Compliance Issues OVDI Streamlined Procedure Tax Amnesty Tax Compliance

Panama Papers: Department of Justice Continues Investigation on U.S. Citizens

In early May, a massive leak of documents from the Panamanian law firm Mossack Fonseca & Co. known as the Panama Papers showed evidence of the firm creating hundreds of…

Compliance Issues OVDI Streamlined Procedure Tax Amnesty Tax Compliance

Panama Papers: Department of Justice Investigates Mossack Fonseca Employees

Documents, known as the Panama Papers, from the Panamanian law firm Mossack Fonseca & Co., showed evidence of the firm creating hundreds of thousands of shell companies and offshore accounts…

International Taxation OVDI Tax Amnesty

Tax Evaders Come Clean in Germany

In 2014, Uli Hoeness, a celebrity soccer manager in Germany, was sentenced to three and a half years in prison for evading € 28.3 million in taxes.  The case was…

FATCA OVDI Streamlined Procedure Tax Amnesty

More Banks Added to IRS’ Disclosure Blacklist

The IRS maintains a list of Foreign Financial Institutions or Facilitators, essentially a blacklist of institutions which have been determined to be complicit in evasion of U.S. taxes.  While taxpayers…

Foreign Tax Preparation OVDI

IRS Issues New Rules for Offshore Voluntary Disclosure

The IRS has announced (IR-2014-73) changes to its offshore voluntary compliance programs. These changes provide new options for taxpayers residing overseas and in the United States come into compliance their…

Foreign Tax Preparation OVDI Tax Amnesty

Declaring Your International Assets Under a Tax Amnesty Program

Tax evasion and falsified tax returns are now being addressed with the US Tax Amnesty Program. Severe penalties come with such a felony, including criminal prosecution and imprisonment. State governments…

Foreign Tax Preparation OVDI Tax Amnesty

OVDP, OVDI, Offshore Voluntary Disclosure Program

In today’s globalized economy, with the mobility of individuals, many members of wealthy families have bank accounts, rental properties, stocks and securities and assorted other assets spread across the globe. …