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.
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
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 … Continue reading
Several politicians will be speaking with the press later today on the IRS’s overreaching into Canada.
FATCA would require every bank in the world to report to the IRS on accounts associated with US citizens. The IRS, figuring that it would only be fair to return the favour, proposed a new regulation that would force US … Continue reading