Settling Back Tax Debt: The Good and Bad News

Last year, I expressed skepticism over the  IRS’ claim that it would be more understanding regarding collections matters. Here and here. So what do the numbers for 2011 show? Did the IRS ease up a bit? Anyone wondering if now is the time to settle back tax debt with the IRS, should read this …

Offshore Voluntary Disclosure Program Q & A

The IRS ended the Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. However, not every actually needs OVDP to clear up past mistakes. Sometimes there are better ways to deal with unreported overseas accounts and income. Yet, there still remains a path open for those worried about criminal exposure.

IRS Audit Process: Mostly Conducted by Mail

Most taxpayers have absolutely zero desire to think about the IRS. As someone who has spent my entire career staving off the IRS as they hone in on people who make mistakes, I get that. Not only do I understand it, but I would be shocked to find that taxpayers were sitting around actively …

Form 8938 FAQ

The IRS has a new information reporting form that taxpayer are required to use starting in the 2012 tax filing season to report specified foreign financial assets for tax year 2011.

OVDI Extended: No, It Is Not Too Late To Disclose

Update 2017: Read about the current Offshore Disclosure Programs here.


With offshore account crackdowns in the news, such as today's stories that HSBC is giving up clients' names and Wegelin and Co. is under investigation, we talk to taxpayers everyday wondering if it is too late to utilize the OVDI, even if their bank is under investigation. However, the good news is that with the OVDI extended – no, it's not too late.

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