201808.26
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(Updated) OVDP Guide for Revised Offshore Disclosure Practices

(Updated) OVDP Guide for Revised Offshore Disclosure Practices The IRS has issued a memorandum detailing the updated voluntary disclosure procedures. We have summarized the process and procedures for you below) Updated IRS Disclosure Procedures The IRS has announced a new set of rules involving OVDP and the IRS Voluntary Disclosure practices.  While the general practice…

201808.23
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Civil Tax Fraud vs. Criminal Tax Evasion, What’s the Difference?

Civil Tax Fraud vs. Criminal Tax Evasion, What’s the Difference? Civil Tax Fraud can be Civil or Criminal. Typically, it will depend on your facts and circumstances. When it is criminal, it is usually referred to as “Tax Evasion.” Common Tax Fraud/Evasion issues include: Unreported Income Underreporting Income Fraudulent Deductions Unreported foreign Accounts Unreported foreign…

201808.21
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Manafort (Update) – How You Avoid Criminal Charges for Foreign Accounts

Manafort (Update) – How You Avoid Criminal Charges for Foreign Accounts After several days of deliberations, the Manafort jury came back with a guilty verdict on eight (8) separate charges, including: Filing False tax returns (1040, Schedule B) Failing to Report his Foreign accounts (FBAR) Bank Fraud FBAR & Foreign Accounts Oftentimes, even the most…