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Archive by Month: August 2011 - Page 4

OVDI Deadline has been extended!

Offshore Account Update

Posted on August 6, 2011

Due to the potential impact of Hurricane Irene, the IRS has extended the due date for offshore voluntary disclosure initiative requests until September 9, 2011.

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One Week Until 2011 IRS Amnesty Program Deadline

Offshore Account Update

Posted on August 5, 2011

More than ever, it appears the best alternative for taxpayers with undisclosed bank accounts is to enter into the IRS 2011 Offshore Voluntary Disclosure Initiative (OVDI).  But time is quickly running out to take advantage of the OVDI – the deadline for entering the “amnesty” program is next week.  The OVDI may well be the last chance for U.S. taxpayers with undisclosed offshore accounts to benefit from pre-determined penalties and reduced criminal exposure, but only if the taxpayer comes forward before the deadline of August 31, 2011.

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U.S. Persons with Undisclosed Offshore Accounts Take Action Against High IRS Penalties

Offshore Account Update

Posted on August 4, 2011

Many Indian Americans that have either heard of or have entered into the 2011 OVDI know of the outrageously high civil penalties they could face by maintaining undisclosed foreign bank accounts; now, these Indian Americans are taking action with the U.S. Government to lessen their penalties.

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Credit Suisse in Serious Trouble: Account Holders Next as 1 Month for Amnesty Remains

Offshore Account Update, UBS / HSBC

Posted on August 2, 2011

The Department of Justice has made it clear Credit Suisse is in serious trouble and that these are very serious allegations that relate to conduct extending beyond a tax conspiracy and into a broader range of criminal activity.  Specifically, conduct concerning possible destruction of records and helping people even evade the Department of Justice investigations.  Even worse conduct than UBS!

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