IRS Targets Offshore Accounts and Income in Dirty Dozen Tax Scams for 2015

The Internal Revenue Service (IRS) continues to remind taxpayers of the danger of hiding money or assets in unreported offshore accounts. The IRS has been very focused on this issue now for over 5 years. Violations of U.S. global tax reporting and FBAR filing laws can be criminal and there are severe civil penalties even for […]

Whistleblower and Tax Cheat Receives $104m Reward from the IRS

The Internal Revenue Service (IRS) has awarded Bradley Birkenfeld – a tax cheat and whistleblower – $104 million for providing information about UBS’s promotion of secret offshore accounts to U.S. taxpayers.  Mr. Birkenfeld had recently been released from jail after serving a portion of a 40-month sentence after pleading guilty to withholding information about his […]

IRS assistance for delinquent U.S. taxpayers living abroad? Sort of.

The IRS is still in the midst of its third Offshore Voluntary Disclosure Program.  This program allows U.S. taxpayers who have failed to report foreign financial accounts and income to become compliant and avoid facing criminal prosecution.  However, now the IRS has announced an additional program to assist U.S. taxpayers living abroad to become compliant.  […]