The 2014 OVDP Pre-clearance: Significant changes

On June 18, 2014, the IRS announced significant (and mostly helpful) changes to all Offshore Voluntary Disclosure Programs (OVDPs). Update February 2017: There have been few pre-clearance changes to speak of since 2014. Once difference is that the IRS says it will start auditing those who filed a pre-clearance and nothing else along with…

IRS Payroll Tax Problems? This too, will pass

If you have ever run a business, and if you ever ran a little bit short in the cash flow department, you likely know the temptation of paying your employees their net pay, but shorting the government its “fair share” in the form of 941 payroll taxes.  It is sort of like a guaranteed loan — with a 100% …