IRS Re-Opens Offshore Voluntary Disclosure Program


The Internal Revenue Service announced Jan. 9th, the reopening of its successful Offshore Voluntary Disclosure Program (OVDP), designed to encourage people hiding offshore accounts to pay what they owe and avoid potentially ruinous penalties and possible criminal prosecution. While similar

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Payroll Tax Compliance – IRS Offers Non-Compliant Employers Pre-Holiday Gift


Just in time for the holiday season, the IRS recently gave employers the perfect gift. It launched a new voluntary compliance program to give businesses that misclassified workers as independent contractors the opportunity to come into compliance for just short

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The Tax Man Cometh – The IRS Steps Up Enforcement Here and Abroad


The Internal Revenue Service is making headway on closing the estimated $345 billion tax gap, and doing so in dramatic fashion both at home and abroad. In the U.S., marked increases in seizures, liens and levies have come at a

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FATCA – With the FATCA in the Fire, IRS Makes the Right Move


The recent IRS announcement that it would phase in requirements of the Foreign Account Tax Compliance Act (FATCA) is a bow to sanity. It’s also good policy for taxpayers and the government, not just banks. Requirements for this sweeping law,

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