201809.27
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OVDP Ends Tomorrow – IRS Disclosure of Unreported Money Continues

OVDP Ends Tomorrow – IRS Disclosure of Unreported Money Continues Yes, the traditional OVDP ends tomorrow. No, Offshore Disclosure is not going anywhere. Even after OVDP ends, the IRS has indicated you will still have time to disclose your offshore/foreign accounts…even if you are willful. Don’t Rush into OVDP Just Because… If you KNOW you…

201809.24
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Beverly Hills FBAR Conviction & Prison Sentence (Dubai Account $1M+)

Beverly Hills FBAR Conviction & Prison Sentence (Dubai Account $1M+) As OVDP is close to ending (9.28.2018), the U.S. Government is turning up the heat on FBAR violations, and is pushing more and more for criminal prosecution. In recent months, the DOJ has been aggressively pushing for willful penalties and criminal convictions against any individuals caught…

201809.23
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Attorney Indicted in Offshore Tax Scheme – $18M in Foreign Accounts

Attorney Indicted in Offshore Tax Scheme – $18M in Foreign Accounts Nobody is safe from the U.S. Government’s intense drive to enforce international tax related violations.  The momentum continues, as the DOJ charges another individual with Tax Evasion (this time, it was an Attorney).  *An indictment merely alleges that a crime has been committed. A…

201809.18
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FATCA Fraud Leads to Criminal Conviction for Overseas Bank Executive

FATCA Fraud Leads to Criminal Conviction for Overseas Bank Executive When it comes to Offshore and Foreign Account Penalties, FATCA (Foreign Account Tax Compliance Act) is not typically the basis for a criminal conviction. Usually, a person knowingly/willfully fails to file an FBAR, Form 5471, Form 3520-A, etc., and that is the catalyst which sparks a criminal…