Now that the voluntary disclosure programs (OVDI / VDP) have ended, tax professionals are wondering what’s going to happen next. With OVDI participants facing stiff penalties, the IRS must either increase penalties for voluntary disclosers going forward or risk angering … Continue reading
The Taxpayer Advocate Service (TAS) is, according to its tagline, “your voice at the IRS.” It’s a government body tasked with ensuring fairness and proper conduct from the Internal Revenue Service.
David Voreacos has written an article hailing the success of the IRS’s charges against banks like UBS (which has made it nearly impossible for expats living in Switzerland to find banks willing accept them as customers).
A recent report from the Treasury Inspector General for Tax Administration (TIGTA) found that nearly half of their absurdly small sample size of closed cases were improperly transcribed, and the review itself suffered from several fatal flaws. Despite this, TIGTA … Continue reading
To bring people back into compliance, the IRS instituted the Overseas Voluntary Disclosure Program (OVDP) in 2009, a program that the American Citizens Abroad (ACA) has termed a “scam.”