Finance & Banking, Wills, Trusts, & Estate Planning, Criminal Law

IRS Announces Information Sharing Agreement With Australia And The UK To Combat Tax Evasion

by David Gair | Looper Reed & McGraw, P.C. on 5/13/2013

The IRS continues to aggressively pursue offshore tax evasion. Another example of which is plan to share tax information with Australia and the United Kingdom....more

Elder Financial Abuse

by Jonathan Foxx on 7/23/2012

The Consumer Financial Protection Bureau is involved in providing financial protection against elder abuse; indeed, it is specifically tasked with that responsibility. The Bureau's Office of Older Americans is charged by the...more

Divorce can be costly, especially when it reveals undisclosed foreign assets. [Video]

by Sanford Millar on 7/14/2012

Divorce is one of the major triggers that ends up revealing foreign assets. And the problem for divorcing couples is even if they agree on the division of assets, it can be difficult if not illegal, to try and do it...more

IRS Announces New Voluntary Disclosure Program for Offshore Accounts and Assets

by Michael T. Mazzone, C.P.A., J.D., LL.M. on 2/1/2012

On January 9, 2012, the Internal Revenue Service (“IRS”) reopened an Offshore Voluntary Disclosure Initiative (“OVDI”) to give U.S. taxpayers with offshore accounts a third opportunity to disclose such accounts, pay any taxes...more

IRS Announces New Voluntary Disclosure Program for Offshore Accounts and Assets

by Gabriel G. Tsui on 2/1/2012

On January 9, 2012, the Internal Revenue Service (“IRS”) reopened an Offshore Voluntary Disclosure Initiative (“OVDI”) to give U.S. taxpayers with offshore accounts a third opportunity to disclose such accounts, pay any taxes...more

More IRS Offshore Penalties May be Coming!

by Sanford Millar on 11/22/2011

Taxpayers with certain foreign held assets will be required to describe those assets on a new form which must be attached to their 2011 Form 1040 individual income tax returns. The new form, still in draft format is Form...more

CROSS-BORDER TAXATION - IRS Tax Amnesty For Failure To Report Foreign Accounts About To Expire

by Dickinson Wright on 8/1/2011

Picture the following ....... A young man born in the United States, while vacationing in Canada, meets and falls in love with a Canadian woman. They get married and thereafter make their home in Vancouver, Canada, for the...more

Offshore Tax Penalties May Be Lowered

by Darrin Mish, Tampa Tax Attorney on 3/1/2011

The latest IRS amnesty program that gives you the chance to declare your previously undeclared offshore assets to the IRS is on now through August 31. But this latest IRS program is less tolerant of the fact that it would...more