OVDP FAQ 29: Think Before You Leap

It’s no secret that many US persons who have been intentionally hiding income from the IRS have used shell companies, such as foreign corporations, trusts and partnerships. I claim no clairvoyance on the possibility of avoiding detection, but I’ve been told by people within the IRS that the IRS suspects that the vast majority of people who haven’t come clean with unreported accounts and income are hoping that their use of these foreign shell companies will protect them from detection.

CT Tax Amnesty: Can You Use It For Your Business?

If your business has been tagged with an existing tax liability to the State of Connecticut, you have hopefully seen the notices of the newest CT Tax Amnesty Program. If you haven’t wanted to see the bills and have left the envelopes unopened, you may not yet know that this is an excellent …