Archive for the ‘Streamlined’ Category.

Streamlined Disclosure in U.S. v. Brian Nelson Booker

The case of the U.S. vs Brian Nelson Booker a Florida based CPA the first person criminally charged by the Department of Justice (DOJ) with allegedly making false statements in connection with the IRS’s Streamlined Domestic Offshore Program (SDOP), reminds us that filing a Streamlined su...

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The Pitfalls of Streamlined Foreign Account Disclosures

A terrific read on what Streamlined is and when Streamlined can be used without going to the more over reaching OVDP Offshore Voluntary Compliance Program, including some facts that may not support non-willful behavior.g The Pitfalls of Streamlined Foreign Account Disclosures Tax professio...

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Assessing the options when a client has unreported foreign assets

Recently, many tax return preparers have learned that a number of their clients failed to report their interest in a foreign bank account, corporation or trust to the IRS. Because the Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions to report their U.S. de...

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An alternative to Streamlined

An Alternative to Streamlined It can take months to get a nonfiler back into compliance with the IRS. By Jim Buttonow, CPA/CITP November 7, 2016 - See more at: http://www.journalofaccountancy.com/newsletters/2016/nov/bring-nonfiler-bac-into-compliance.html   The IRS estimate...

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US expat taxpayers: How to pay off IRS tax debts

Written by Phil  Bradford Are you an American expat who owe money to the IRS? Or, are you thinking of escaping your US tax debt by moving abroad? If so, then beware! The IRS won’t leave you without grabbing its money. It’s because, the US has tax treaties with more than 42 countrie...

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