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HSBC Client Pleads Guilty to Conspiring to Hide Indian Accounts From IRS

Search Results for: sfop/planning-for-tax-minimization/irs-streamlines-its-streamlined-offshore-procedures-with-more-user-friendly-forms

HSBC Client Pleads Guilty to Conspiring to Hide Indian Accounts From IRS

17 April, 2011

...offshore amnesty program. Patel Law Offices is a law firm dedicated to helping clients resolve complicated tax, criminal tax, and international tax problems. Our firm assists (and defends) clients and...

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IRS list of “dirty dozen” tax scams

15 April, 2011

...the IRS. The IRS continues to see instances in which people file false or fraudulent tax returns to try to obtain improper tax refunds. The IRS takes refund fraud seriously,...

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Foreign bank account reports (FBARs) and the 2011 Offshore Voluntary Disclosure Initiative (2011 OVDI)

11 April, 2011

...eligible for the 2011 OVDI, so long as they follow the procedures, and meet the August 31, 2011, deadline, thereunder. Taxpayers who reported and paid tax on all their taxable...

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IRS’ Takes Legal Action Against Offshore HSBC Indian Accounts

10 April, 2011

...U.S. taxpayers have opened bank accounts with HSBC India since 2002. Federal law requires U.S. taxpayers to pay federal income taxes on all income earned worldwide. U.S. taxpayers must also...

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Post IRS Audit Strategic Options: The IRS’ 30 Day Letter

9 April, 2011

...the Proposed Tax Liability — the taxpayer, having read the 30-day letter, may reconsider and pay the proposed liability to end the matter. Contest the Findings with the IRS Appeals...

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New Jersey Division of Taxation Now Issuing Letter Rulings

3 April, 2011

...the taxpayer. Letter rulings are published by the Division. However, the Division would redact all identifying taxpayer information. Rulings can be found at: http://www.state.nj.us/treasury/taxation/pub_letter_index.shtml A taxpayer may withdraw a letter...

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New Law’s Reporting Requirements Make It Very Likely That the IRS Will Now Know About Your Foreign Account

2 April, 2011

...enter the 2011 Offshore Voluntary Disclosure Initiative (2011 OVDI) program and avoid criminal prosecution. Patel Law Offices is a law firm dedicated to helping clients resolve complicated tax, criminal tax,...

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Charitable Remainder Trust: Frequently Asked Questions

22 March, 2011

1. What is a Charitable Remainder Trust? A Charitable Remainder Trust is a special tax-exempt irrevocable trust arrangement written to comply with federal tax laws and regulations. You transfer cash...

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Financial Crimes Enforcement Network (FINCEN) Issue Final Rules

21 March, 2011

...firm dedicated to helping clients resolve complicated tax, criminal tax, and international tax problems. Our firm assists (and defends) clients and their advisors to legally disclose (and legitimize) foreign accounts....

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Abatement of the NJ Amnesty Non-Participation Penalty is Still Possible for Some Taxpayers

14 March, 2011

...Services Co. v. Director, Div. of Taxation, 25 N.J. Tax 1 (Tax 2009)) which involved a taxpayer that was issued an assessment after amnesty had already closed. In UPS, the...

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Passwords and Estate Planning

4 March, 2011

The best way to address concerns raised by assets in the electronic age from an estate planning and estate administration perspective is to employ some practical advice: •Each spouse keeps...

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Adult Children Need Estate Planning Too

1 March, 2011

...you can get a health-care proxy for free at any hospital and most doctor offices. They are simple to complete and require only two witnesses. Power-of- attorney forms are a...

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