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Voluntary Disclosure Program: You Must File Before the IRS Contacts You

July 1, 2011 by admin

Article by Kevin Thorn The deadline to apply to the IRS Voluntary Disclosure Program now over; however U.S. taxpayers still can file a voluntary disclosure under the IRS normal procedures. In 2009, the IRS and U.S. Department of Justice began its highly publicized investigation into Swiss bank UBS AG and U.S. accountholders who hid these … Read more

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I.R.S. Penalties For Late Filing and Late Paying On Offshore Income

April 6, 2011 by admin

Doing business outside of the U.S.?  Have an Offshore bank account or Brokerage Account? Own more than 10% of a foreign country legal entity? (and some rules apply to even lower levels of ownership). The I.R.S. maze of rules and arsenal of penalties is overwhelming; even for CPAs and tax lawyers who work on international … Read more

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