OVDI

Feds Push Jail For Tax Crimes: Like Your Cell, Keep Your Cell

Does jail work is a large and complex question. But prosecutors are trained to want it and to push hard, in some sectors more than others. Tax charges are [...]

Beanie Babies creator gets probation for tax evasion

(Reuters) - The billionaire creator of Beanie Babies, Ty Warner, will serve two years of probation, including mentoring high school students, following his [...]

Push for FATCA Agreements Continues With 12 Pacts Signed, More Under Way

By Alison Bennett Dec. 10 – The push for agreements to implement the Foreign Account Tax Compliance Act continues as the U.S. government works with dozens [...]

IRS not fully ready for law against offshore tax evasion: watchdog

WASHINGTON (Reuters) - The Internal Revenue Service has spent 19 months and more than $8.6 million getting ready to enforce a new law against offshore tax [...]

What To Say When (Not If) Your Offshore Bank Asks, ‘Are You Compliant With IRS?’

More than 7 million Americans live abroad, and most have bank accounts there. Many other Americans have overseas bank accounts too. Most are receiving [...]

What’s FATCA? Global Banking Meets NSA But Reports To IRS

FATCA was quietly enacted in 2010 in a big messy bill called the Hiring Incentives to Restore Employment Act of 2010 (P.L. 111-147). Who names these bills? If [...]

U.S. Inks FATCA Tax Deals With 9 Nations, Pursues 80 More During 6 Month Reprieve

The war on tax evasion is no secret. It started with the U.S., which is still the big driver. But the war extends outward like the spokes of a wheel. And the [...]

FATCA’s Bleak Choices For Accounts, Income, Disclosure

Is any offshore income, account or trust still secret? The only safe assumption is no. And contrary to public opinion, it is not merely a prospective problem. [...]

Is Filing Your First FBAR Admitting To A Crime?

Is filing your first FBAR admitting to a crime? Hardly, but this is a common worry. Perhaps you learned only recently that you had to file annual FBARs for [...]

Beware Global IRS Reach – And Very Long Memory

Does the IRS forgive or forget? Rarely, and when it comes to offshore accounts, even more seldom. The IRS quest for offshore accounts–some call it a [...]