The US Internal Revenue Service (IRS) has obtained a 'John Doe summons' against the director of a Panamanian company claimed by the IRS to have helped American taxpayers to set up anonymous offshore accounts. The summons demands all records of Sovereign Management & Legal's clients (SML). The phrase 'John Doe' indicates that the US authorities do…
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IRS Adopts New Offer in Compromise Policy
On February 28, 2017, we posted How To Get The IRS To Accept Your Offer In Compromise? where we discussed: 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,…
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Trump's Budget Is Trouble For the IRS
On December 14, 2016 we posted Trump's Anti-Union Drumbeat Could Be Trouble for the IRS where we discussed that IRS employees could be in for a rocky ride if President-elect Donald Trump and Congress move forward with sweeping pledges to rein in federal employee benefits and cripple unions. Now President Trump's America First, A Budget Blueprint to…
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California Businessman Sentenced to 24 Months For Hiding > $23.5 MM Offshore!
A Los Angeles, California businessman was sentenced to 24 months in prison today for hiding more than $23.5 million in offshore bank accounts and evading more than $8.3 Million in Federal Taxes over seven years. According to court documents, Masud Sarshar, a U.S. citizen, maintained several undeclared bank accounts at Bank Leumi and two other…
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