Topic
Offshore Accounts
144 published works
Asset Protection Law Journal
Mitt Romney Keeps Funds in Cayman Islands and Switzerland
By Ken Laino
As I have mentioned in many other posts, there is nothing wrong with using Swiss bank accounts or offshore entities. A recent front page article in the New York Times…
Tax, Trusts & Estates Law
IRS Announces Third Offshore Voluntary Disclosure Program
The IRS announced a third voluntary disclosure program for offshore accounts recently. The IRS has conducted two prior voluntary disclosure programs – one in 2009 and one in 2011. According…
European Union and Italian International Tax Law Blog
IRS Announced Reopening of Tax Amnesty Program For Undisclosed Foreign Financial Accounts
By Marco Rossi
On January 9, 2011 the Internal Revenue Service reopened the offshore voluntary disclosure program to help people hiding offshore accounts get current with their taxes and announced the collection of…
European Union and Italian International Tax Law Blog
2012 New Self-Reporting Requirements For Foreign Financial Assets
By Marco Rossi
Starting with the tax year 2011, the new IRS Form 8938 must be filed by all U.S. persons if total foreign financial assets exceeded $50,000 at any point during the…
Pennsylvania Fiduciary Litigation
Going Once, Going Twice
The Department of Justice, the Internal Revenue Service, and Congress have all identified "offshore tax evasion" as a primary enforcement target. The success of the enforcement effort so far has…
Tax, Trusts & Estates Law
New IRS Guidance in the 2011 IRS Offshore Voluntary Disclosure Initiative
In February 2011 the IRS announced the Offshore Voluntary Disclosure Initiative (OVDI) for taxpayers with undisclosed foreign accounts. This program was a follow up to a program initiated by the…
Corporate & Securities Law Blog
IRS Announces Second Special Voluntary Disclosure Initiative for Taxpayers With Undisclosed Offshore Accounts
The Internal Revenue Service announced on February 8, 2011 the creation of a second special voluntary disclosure initiative for U.S. taxpayers with undisclosed foreign bank and other financial accounts. This new…
Latin American Blog
IRS Announces Second Special Voluntary Disclosure Initiative for Taxpayers With Undisclosed Offshore Accounts
The Internal Revenue Service announced on February 8, 2011 the creation of a second special voluntary disclosure initiative for U.S. taxpayers with undisclosed foreign bank and other financial accounts. This new…
European Union and Italian International Tax Law Blog
IRS Launches a New Offshore Voluntary Disclosure Program
By Marco Rossi
IRS launched a new program for the voluntary disclosure of offshore accounts. The program ends on August 31 and provides for reduced penalties for pas non compliance
Wills, Trusts & Estates Prof Blog
New Reporting Rules for Offshore Accounts
New tax reporting rules make it more difficult for wealthy taxpayers to hide assets overseas. A taxpayer with more than $10,000 offshore is currently required to file a Report of…