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? In recent years, the IRS had been cracking down on Tax Fraud (Civil or Criminal) and Tax Evasion (Criminal). While the IRS handles the civil aspects of Fraud (and quasi-criminal investigations) through the criminal investigation unit (aka IRS Special Agents) — criminal violations are…

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…