OVDI Update: IRS Gives Offshore Account Holders Yet Another Chance

We recentlly announced that the IRS is extending its Offshore Voluntary Disclosure Intiative (OVDI). Since September 2011, we have received hundreds of calls from offshore account holders who wanted to get into the OVDI program. Unfortunately, until now, we have had to tell them that it was too late. Once again, if you have a… Continue reading OVDI Update: IRS Gives Offshore Account Holders Yet Another Chance

IRS OFFSHORE VOLUNTARY DISCLOSURE AMNESTY

Peter Pappas discusses the IRS’s extension of the Offshore Voluntary Disclosure Intiative (OVDI).  Taxpayers with unreported foreign accounts and unreported foreign income are urged to come forward and participate in the OVDI program to avoid serious civil and criminal penalties. This is a great opportunity and one that every offshore account holder should seriously consider. Call… Continue reading IRS OFFSHORE VOLUNTARY DISCLOSURE AMNESTY

Florida Man Convicted for Unreported Foreign Account

If you own or have signature authority over a foreign account and put in the name of another entity in order to hide it from the IRS or avoid the FBAR disclosure requirements, you can count on a criminal prosecution if the IRS catches you. Wolfgang Roessel has been convicted of filing a false tax return, a… Continue reading Florida Man Convicted for Unreported Foreign Account

Top Twelve Tax Scams

The IRS has released (IR-2012-23) its annual “dirty dozen” list of tax scams. Here are the top 12 for 2012: Identity Theft Phishing Return Preparer Fraud Hiding Income Offshore “Free Money” from the IRS

Former IRS Agent & Tax Preparer Orders Hit on Former Clients

Fox News reports that a former IRS agent whose tax preparation business catered to a wealthy  clientele is accused of ordering at least two former customers killed as they  prepared to testify against him

Florida Doctor Convicted of Federal Tax Crimes

The United States Department of Justice reports that Dr. Patricia Lynn Hough, of Englewood, Fla., was convicted by a jury in Fort Myers, Fla., of conspiring to defraud the Internal Revenue Service (IRS) by concealing millions of dollars in assets and income in offshore bank accounts at UBS and other foreign banks, and of filing false individual income… Continue reading Florida Doctor Convicted of Federal Tax Crimes

Ex-IRS Agent Defrauded Clients then Hired Hit Man to Kill Them

“Ex-IRS agent sentenced to prison in murder-for-hire plot A former IRS agent who opened a tax preparation business was sentenced Friday to nearly 24 years in prison for defrauding clients out of more than $11 million and then attempting to hire a hit man to kill four of them. Steven Martinez, 51, of Ramona was… Continue reading Ex-IRS Agent Defrauded Clients then Hired Hit Man to Kill Them

IRS Says Yankees Owe $670,000

Reuters reports that the U.S. has sued New York Yankees co-owner Hal Steinbrenner and his wife seeking more than $670,00 in taxes, saying that amount was erroneously refunded to the baseball team

280,000 Federal Workers are Tax Deadbeats

Paul Caron reports that nearly 280,000 current and former federal workers are delinquent in their tax obligations: Over 279,000 federal workers and retirees owed more than $3.4 billion in back income taxes in 2010

Good Riddance: J.K. Harris Shuts Down

The second unscrupulous player in the tax resolution business has been forced to shut its doors as a result of thousands of consumer complaints and several government investigations