On April 2, 2009, the IRS announced they will reduce the penalty for not filing a Report of Foreign Bank and Financial Account, known as a FBAR Form. The current penalty is up to fifty percent (50%) of the highest annual balance of each account for each of the last 3 years. The 50% penalty … Read more
Article by Elaine Voncannon Anyone who purchases property understands the importance of making smart financial investments. In real estate, homebuyers and sellers have the same goal – to build wealth. There are many strategies that can help real estate investors maximize their investment potential and increase their return on investment (ROI). A popular strategy that … Read more
Offshore International Today Aug 2011 Lance Wallach You may want to think about participation in the IRS’ offshore tax amnestyprogram (called the Offshore Voluntary Disclosure Initiative). Do you want to play audit roulette with the IRS? Some clients think they are too small to be prosecuted. They are wrong. To the average businessperson, only … Read more
The Method of IRS Bank Account Levy An IRS bank account levy or bank account garnishment is among the toughest as well as heartless recovery components utilized by the Internal Revenue Service. Should you be underneath the supposition the IRS will recognize you will not have the ability to nourish yourself or even fit a … Read more
On April 2, 2009 the U.S. Treasury rolled out a Voluntary Disclosure program (expiring on September 22, 2009). The goal of this program is to bring into the fold undisclosed foreign bank accounts and with them, a lot of tax revenue. The voluntary disclosure program is confiscatory and will be a tough pill to swallow … Read more