Category: Settling with the IRS

11.5 million documents in the Panama Papers Corruption

To date, 11.5 million documents have been revealing offshore bank accounts and tax havens of innocent investors who did not cheat anyone have also been caught in the corruption trap of anonymous Panamanian corporations that are no longer anonymous.

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Videos Explaining United States Taxation

Tax Lawyer Richard S. Lehman, Esq., Offers Tax Webinars and Training on Relevant Tax Issues Please note: once you pick your presentation you will be taken to USTaxLawSeminars.com website (a Richard S. Lehman website) to view and download materials. U.S.

Posted in Domestic Taxation, Exporting Tax Benefits The IC-DISC, Foreign Investors in United States Real Estate, IRS Amnesty, OVDP, Bank Deposits, Foreign Assets, Streamlined Compliance, Ponzi Scheme, Clawback, Refund of Losses, Pre-immigration income tax planning, Settling with the IRS, United States Taxation of Foreign Investors Tagged with: , ,

The FATCA Team Approach; The Role of Lawyer and Accountant

FATCA and the Team approach

There are several new laws in place to implement the reporting of these foreign bank accounts and to permit U.S. taxpayers to “clear the record” in the event they have not reported these accounts in the past.

Posted in Domestic Taxation, IRS Amnesty, OVDP, Bank Deposits, Foreign Assets, Streamlined Compliance, Settling with the IRS Tagged with:

The New IRS Streamlined Filing Compliance Procedures

Here are frequently asked questions about the IRS changes to the Offshore Bank and Foreign Asset Disclosure Programs. Question 1. Will a taxpayer qualify for either of the Streamline Program or the Offshore Voluntary Disclosure Program that permits Taxpayers to

Posted in Domestic Taxation, IRS Amnesty, OVDP, Bank Deposits, Foreign Assets, Streamlined Compliance, Settling with the IRS Tagged with: ,

Tax Planning for Expatriation from the United States

Bloomberg Business reports today that “There are an estimated 6 million U.S. citizens living abroad. More than 10,000 Americans living overseas have given up their passports over the past five years.” The taxation of Americans and long term green card

Posted in Domestic Taxation, Settling with the IRS Tagged with: , , ,

The Concept Of Willfulness, In The Eyes Of The IRS, by Richard S. Lehman, Esq.

In tax law “willfulness” has its own definition and it is an important definition for every taxpayer. That is because a taxpayer who “willfully” filed or did not file accurate tax information can be subjected to numerous very expensive penalties

Posted in Domestic Taxation, IRS Amnesty, OVDP, Bank Deposits, Foreign Assets, Streamlined Compliance, Settling with the IRS Tagged with: , , ,

IRS just announced major modification regarding the Offshore Voluntary Disclosure Procedure (OVDP)

These new IRS modifications are very significant. It is absolutely critical to understand these important IRS changes, please contact veteran tax attorney Richard S. Lehman Esq., today. The new Internal Revenue Service ruling greatly reduces offshore voluntary disclosure procedure for

Posted in Domestic Taxation, IRS Amnesty, OVDP, Bank Deposits, Foreign Assets, Streamlined Compliance, Settling with the IRS Tagged with: , , , , , ,

IRS Foreign Bank Deposit Amnesty Offshore Voluntary Disclosure Initiative

Most U.S. taxpayers are now aware of all of the new requirements for U.S. Information Returns that will alert the Internal Revenue Service to the amounts and nature of most foreign assets and foreign bank deposits owned by U.S. taxpayers. 

Posted in Domestic Taxation, Settling with the IRS

Update on the IRS open-ended amnesty program

 We are having success in getting penalties eliminated or reduced. I want to make you aware of the best guidance that one can get regarding the new IRS open-ended Amnesty program.  These questions from the IRS deal with the Amnesty

Posted in IRS Amnesty, OVDP, Bank Deposits, Foreign Assets, Streamlined Compliance, Settling with the IRS Tagged with: