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 participants who will rightfully feel that they were deliberately entrapped by unfulfilled promises of leniency. 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. Continue reading
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). Continue reading
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 has declared the 2009 Offshore Voluntary Disclosure Initiative (OVDI) a success. Continue reading
In interacting with US expats around the world, the single greatest complaint I hear coming from the UK is that their government is doing little to support them. Continue reading
If you follow the comments on this site, you may be familiar with Cafreeb. Like many US citizens living in Canada, she is very concerned about FATCA and the privacy concerns of FBAR, and she has created a BlogTalk show to address these issues. Continue reading
The IRS has finally opened a hotline to address FBAR concerns. Though much delayed, this should at least give expats an opportunity to get much needed clarification and help.
To reach the FBAR and Title 31 Helpline, dial (866) 270-0733 for toll-free calls within the U.S., or (313) 234-6146 for callers outside the U.S. The latter is not a toll-free phone number.
Read the full article here.
Although it says that the toll-free number is within the US only, American toll-free numbers usually work in Canada too (and visa versa). It may be worth giving that a try first, assuming it all goes to the same call centre.