by Igor Drabkin | Apr 11, 2018 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
On April 10, 2018, just before the tax filing deadline, the U.S. Department of Justice issued an announcement, reminding the public of tax obligations and highlighting a number of criminal tax cases. The DOJ reminds that evading one’s tax obligations could end... 
by Igor Drabkin | Mar 13, 2018 | FBAR, Internal Revenue Service, Offshore Income
In the news release issued today, March 13, 2018, the Internal Revenue Service announced that the Offshore Voluntary Disclosure Program (OVDP) will close on September 28, 2018. The deadline gives U.S. taxpayers with non-compliant undisclosed foreign accounts and... 
by Igor Drabkin | Jan 8, 2018 | FBAR, Internal Revenue Service, Offshore Income, Tax Litigation
In Rafizadeh v. Commissioner, 150 T.C. No. 1, the Tax Court issued an important decision for the taxpayers, holding that the six-year statute of limitations with respect to income attributable to certain “specified foreign financial assets”, is effective only for... 
by Igor Drabkin | Apr 25, 2017 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
Three Orange County, California residents, Dan Kalili, his brother David Kalili, and David Azarian, were sentenced to prison today for willfully failing to file Foreign Bank Account Reports (FBAR), disclosing their secret accounts in Switzerland and Israel. The three... 
by Igor Drabkin | Jan 25, 2017 | FBAR, Internal Revenue Service
Beginning this year, reporting for the 2016 calendar year, the due date for filing Foreign Bank Account Reports (FBAR) changes from June 30th (which applied to all the previous tax years) to the same filing deadline as individual income tax returns, April 15. Like... 
by Igor Drabkin | Nov 2, 2016 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
On October 21, 2016, the IRS issued a news release, announcing new data on the Offshore Voluntary Disclosure Procedures, which were put in place by the IRS in order to bring taxpayers with undisclosed foreign accounts and offshore assets into compliance. According to...