201811.20
0

DOJ Offshore Compliance Conviction (Danger of FBAR/FATCA Delay)

DOJ Offshore Compliance Conviction (Danger of FBAR/FATCA Delay) Just knowing about the IRS Offshore Voluntary Disclosure Program, but failing to take action is not the best strategy for compliance. Especially since the IRS, (and U.S. Government as a whole) continue to make offshore compliance a key enforcement priority. The most recent conviction comes by way…

201811.18
1

Foreign Bank Wants You To Sign a FATCA Non-Compliance Statement?

Foreign Bank Wants You To Sign a FATCA Non-Compliance Statement? Unfortunately, the enforcement of FATCA, coupled with the inherent fear that many Foreign Financial Institutions have about being out of compliance with U.S. FATCA Reporting laws has left many U.S. Account Holders in jeopardy with the IRS. Some of these foreign banks and investment firms are…

201811.16
0

Golding & Golding Gets Client a Full Waiver of an OVDP Penalty

Golding & Golding Gets Client a Full Waiver of an OVDP Penalty We are pleased to announce that Golding & Golding successfully had a client removed from the OVDP penalty structure, with no penalty issued. We worked closely with the IRS Agent assigned, who was very fair and understood our client was pushed into OVDP…

201811.13
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DOJ May Offer Non-Prosecution Agreements to Other Foreign Countries

DOJ May Offer Non-Prosecution Agreements to Other Foreign Countries Before there were the Panama Papers, Paul Manafort and other recent international tax enforcement activities, there was Switzerland and Offshore Banking. Offshore Banking was one of the catalysts that led to the development of FATCA – and subsequent enforcement by the IRS, DOT and DOJ. And,…

201811.08
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IRS Rejects Creating a Cryptocurrency Voluntary Disclosure Program

IRS Rejects Creating a Cryptocurrency Voluntary Disclosure Program At a recent symposium in Texas, Mr. Daniel N. Price of the IRS Office of Chief Counsel was apparently the bearer of pretty devastating news (at least if you own cryptocurrency, and are out of compliance). While there were previously rumblings of a specific Voluntary Disclosure program…