FBAR Filing Deadline Extended for Certain Financial Professionals
WASHINGTON — The Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN) today announced that a small subset of individuals with only signature authority required to file the...
View ArticleIRS Responds to Indian-American Community’s Concerns Over OVDI (8/17/11)
August 4, 2011 Mr. Inder Singh Chairman GOPIO International P.O. Box 560117 New York, NY 11356 Dear Mr. Singh: I am responding to your letter to Secretary Geithner dated June 27, 2011. You asked about...
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Mailing Is Not Enough For Sept. 9 OVDI Deadline
In the old days, April 15th and other key tax filing deadlines were met with extended hours at the post office. A few hardy souls in big cities would even make drive-by drop-offs at central post...
View ArticleIRS Shows Continued Progress on International Tax Evasion
WASHINGTON — The Internal Revenue Service continues to make strong progress in combating international tax evasion, with new details announced today showing the recently completed offshore program...
View ArticleIRS Unveils Big Relief Program For Worker Status
When the IRS says “voluntary” it can sound scary. The IRS is unlikely to use this word unless the potential liability is serious. The IRS would much rather have you come forward. If you do, you’re...
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Oh Canada! Hating FBARs And FATCA
FATCA, the Foreign Account Tax Compliance Act, is no one’s darling. But while European banks, governments and expats everywhere rail against it, it’s easy to overlook our next door neighbors to the...
View ArticleDual Citizen Tax Relief From IRS
The IRS has released a “fact sheet” with favorable guidance for U.S. citizens residing abroad who failed to file U.S. tax returns and those pesky little FBARs (Treasury Forms TD F 90-22.1) for foreign...
View ArticleInformation for U.S. Citizens or Dual Citizens Residing Outside the U.S.
FS-2011-13, December 2011 The IRS is aware that some taxpayers who are dual citizens of the United States and a foreign country may have failed to timely file United States federal income tax returns...
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Apple, Google Among Top U.S. Companies Parking Cash Offshore To Reduce Taxes,...
Apple may get the brunt of the attention for its use of offshore havens to offset the taxes it pays in the U.S., but it’s hardly alone. Six of the biggest names in technology – Apple, Microsoft, IBM,...
View ArticleTax Compliance for Undisclosed Foreign Income and Assets
The Finance Minister, in the budget speech this year, had announced that a comprehensive new law to deal with black money stashed away abroad would be enacted. The Bill to enact the proposed new law...
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