by Gary Slavett | Sep 23, 2009 | FBAR
Over the past 5 months, the IRS has issued 52 answers to frequently asked questions regarding the IRS’ Offshore Voluntary Disclosure Program. The questions and answers provide valuable guidance into the offshore voluntary disclosure program and should be... 
by Igor Drabkin | Sep 21, 2009 | FBAR, Offshore Income
The Internal Revenue Service announced on September 20, 2009, a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. These taxpayers now have until Oct. 15, 2009 to make a voluntary... 
by Gary Slavett | Sep 10, 2009 | FBAR, Offshore Income
On August 25, 2009, the IRS updated its FAQs to the Offshore Voluntary Disclosure Program (“VDP”) to include additional information regarding UBS Account holders and their eligibility to participate in the offshore VDP. As part of the agreement with the Switzerland... 
by Gary Slavett | Jul 29, 2009 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
July 28, 2009 – The U.S. Department of Justice and the IRS announced today that Jeffrey P. Chernick, of Stanfordville, N.Y., pleaded guilty to charges of filing a false tax return. Chernick, who owns a corporation which represents toy manufacturers in China and...