On the subject of taxpayer advocacy, the National Taxpayer Advocate delivered it’s annual report to Congress last week. Which actually turns out to be quite an eye-opener for a number of reasons. The report’s number one recommendation was the need for tax...
Just as a footnote to the delay in the FATCA effective due date, I note no word from the IRS about an extension to the Offshore Voluntary Disclosure Initiative (OVDI). This is currently set to expire on August 31, 2011. If you are unsure about what this means for you,...
One of the new additions to the reporting requirements for United States taxpayers with financial assets located outside the United States is a new form 8938. It is currently being developed by IRS and is effective for taxable years beginning on or after January 1,...
We have just published our February newsletter. If you are not receiving our newsletters by email and would like to, please sign up using the form in the footer of this website. Topics for February include: 1. IRD’s new debt collection initiative 2. Gross income...
The IRS is really ramping up its international enforcement, today announcing the OVDI pursuant to the 2009 disclosure programme (OVDP) in relation to offshore bank account disclosures. The deadline for this new initiative is 31 August 2011. I am writing a newsletter...
