The IRS issued proposed regulations on Decmeber 14, 2012 for whistleblower awards under Secs. 7623(a) and (b), as well as rules governing the disclosure of return information under Sec. 6103(h) to pursue these claims (REG-141066-09). The proposed regulations provide general rules for submitting information to the IRS, definitions of key terms, rules for administrative…
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Switzerland to Stop Individuals from Depositing UNTAXED Funds in Swiss Accounts.
Swiss government has prepared draft regulations intended to stop individuals depositing untaxed funds in Swiss bank accounts or other financial instruments. The federal finance ministry announced plans for new ‘enhanced due diligence’ requirements in a consultation document published in February this year. The draft code has now been written to take into account criticism from…
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An Interview with Jon McBride and the Hidden Facts behind his FBAR Judgment!
Anthony Parent's post FBAR Defendant Jon McBride warns others to come clean regarding his interview with Jon McBride about the facts surrounding his FBAR penalty judgment is worth reading. What he did could have happened to anybody. Victimized in a ponzi-scheme, he claims the IRS taxed him on income he never received. And then because he…
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IRS SFR Unit Not Accepting International Case Closures
In SBSE-05-1112-086, Scott Reisher, Director, Collection Policy, instructed the ASFR unit not to currently accept international standalone case closures. This memorandum indicates that all cases meeting Automatic Substitute For Return criteria (ASFR), will be referred to IRS's campus in Memphis, Tenn. The ASFR Unit is currently not accepting international standalone del ret closures under IRM 5.1.11.6.3.1. All Cases meeting…
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