A resident of College Station, Texas, pleaded guilty on May 26, 2017 to conspiring to defraud the United States by using offshore accounts in Panama to conceal more than $1.3 million in royalty income that she earned from oil wells. According to documents and information provided to the court, Joyce Meads, 73, admitted that…
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Last Chance To Come Clean … Automatic Exchange of Information Reporting Is Imminent!
On May 23, 2017 we posted May 31st Is Deadline For CRS Reporting where we listed the 50 Jurisdictions which will begin to exchange information in 2017. Now HMRC has reminded financial institutions that the deadline for reporting their clients' accounts under the Automatic Exchange of Information rules falls in less than a week's time. Returns must…
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How To Get The IRS To Accept Your Offer In Compromise?
Do you owe a substantial amount of taxes to the IRS? If so, you've likely looked into establishing a payment plan. What if you are simply unable to pay your tax balance? In this case, you might consider requesting an offer in compromise, which is a last-resort option that allows you to settle your account…
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OECD Guidance for CRS Automatic Exchange in Tax Matters
On May 23, 2017 we posted May 31st Is Deadline For CRS Reporting where we discussed that two weeks before the first OECD Common Reporting Standard (CRS) reporting deadline of May 31, there are 47 Reportable Jurisdictions for the 2017 reporting year, in respect of 2016 reportable accounts.On April 6, 2017 the OECD released on new guidance for…
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