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Posts tagged "penalty"

Expanded amnesty for some undisclosed offshore accounts

The recent changes to the limited-amnesty program discussed on this blog contained good and bad news. Our previous post explained how penalties are going to increase for some taxpayers in the Offshore Voluntary Disclosure Program.

Increasing IRS penalties for offshore account holders

In a recent advisory, the Internal Revenue Service announced changes to its Offshore Voluntary Disclosure Initiative. For those who hold accounts at 10 international banks currently under investigation, the message was: come forward before August 4 or face much greater penalties.

Climate change: offshore accounts in a new era, part 1

The phrase “global warming” is an oversimplified misnomer. Most experts agree that what we are really experiencing is the much broader phenomenon of climate change. That change means not only generally warmer weather; it means more extremes, such as drought, torrential rain, and unpredictable swings in temperature.