IRS Has a New Audit Strategy – Focus OVDP Withdrawals and Declines

US Tax

Internal Revenue Service’s (IRS) Large Business and International (LB&I) Division now has a new audit strategy known as “campaigns.” For the past several years, the LB&I Division has […]

Read More…

FBAR Penalty: IRS Has No Sympathy for Taxpayer When Accountants’ Made Continual Errors

By now readers of my blog know of the possible draconian penalties that can be assessed for failure to file a so-called FBAR (Report of Foreign Bank and […]

Read More…

OVDP and Streamlined Efforts Net $10 Billion & Over 100,000 Taxpayers

The Internal Revenue Service (IRS) announced on October 21, the results of updated “Offshore Voluntary Compliance Program” (OVDP) and Streamlined Procedure data.   Since the inception of the OVDP […]

Read More…