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