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News & Events

Archive by Year:2009 - Page 2

IRS To Target Employers With Tax Audits: Know Your Rights!

Articles & Publications

Posted in on December 3, 2009

The IRS initiated a new National Research Program Initiative in November 2009 simply known as the Initiative: an industry wide detailed audit of employment taxes for 6,000 randomly selected businesses for the duration of the next three years. The intent of the Initiative has two aspects: ONE: assess systemic employment tax compliance; and TWO: collect assessments from delinquent employers.

 

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After Voluntary Disclosure Initiative Closes, IRS Moves On To Information Document Requests For Offshore Account Holders

Press Releases

Posted in on December 3, 2009

In the wake of the UBS AG fallout and the closing of its Offshore Voluntary Disclosure Initiative on October 15, 2009, the IRS continues to wage its attack on offshore tax evasion. One IRS tactic is to issue an Information Document Request – or IDR – to taxpayers suspected of having unreported foreign bank accounts requesting documents and materials related to the foreign accounts. DC tax attorney Kevin Thorn discusses the potential for more IDRs to be issued as the result of information received by the IRS from UBS and the significant participation in the Voluntary Disclosure Initiative.

 

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Next Step after UBS: IRS Moves onto using Civil Information Document Requests for Undisclosed Offshore Accounts

Articles & Publications

Posted in on November 30, 2009

In the wake of the Internal Revenue Service (IRS) Offshore Settlement Initiative Voluntary Disclosure Program and UBS AG investigation, there will likely be a surge in IRS Information Document Requests focusing on offshore bank accounts.  Offshore tax evasion remains a top enforcement priority for the IRS, which will continue to step up pressure on U.S. taxpayers with undisclosed offshore accounts.  The Information Document Request will be the next step in the IRS’s enforcement strategy. 

 

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Missed the IRS Offshore Settlement Initiative Deadline? U.S. Taxpayers Can Still File a Voluntary Disclosure

Articles & Publications

Posted in on November 23, 2009

Taxpayers who missed the deadline for the Internal Revenue Service (IRS) Offshore Settlement Initiative Voluntary Disclosure Program can still file a traditional Voluntary Disclosure under the IRS’s normal filing strictures.  It is clear that offshore tax evasion remains a top enforcement priority for the IRS and the IRS will continue to step up pressure on U.S. taxpayers with undisclosed offshore accounts.  Voluntary disclosure provides U.S. taxpayers with previously undisclosed offshore accounts a way to avoid the harshest penalties and potential criminal prosecution.

 

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Nearly 15,000 Americans admit offshore tax cheating

Articles & Publications, News

Posted in on November 18, 2009

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