19 March By Christina Weed | mendasweed

Offshore Voluntary Disclosure Program Ending – Taxpayers Urged to Come Forward ASAP

globe and international currency
The IRS has announced that the Offshore Voluntary Disclosure Program is coming to an end September 28, 2018.  https://www.irs.gov/newsroom/irs-to-end-offshore-voluntary-disclosure-program-taxpayers-with-undisclosed-foreign-assets-urged-to-come-forward-now Taxpayers with undisclosed foreign assets are urged to come forward and disclose those assets now.   “Taxpayers have had several years to come into compliance with U.S. tax laws under this program,” said Acting IRS Commissioner David Kautter. “All along, we have been clear that we would close the program at the appropriate time, and we…
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24 July By Christina Weed | mendasweed

The Importance of Disclosing Offshore Accounts and Assets

Christina Weed can help you with disclosure of your offshore accounts and assets
  If you have offshore accounts or assets, it’s important for you to be aware of the standard protocol related to disclosing them to the Internal Revenue Service (IRS). Any money, trusts, inheritance, or corporate earnings that you have in a foreign bank account or foreign financial account is subject to reporting to the IRS. If you do not disclose your offshore accounts, you could face fines, penalties, and even criminal charges that can severely…
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15 May By Christina Weed | mendasweed

I Haven’t Reported My Foreign Accounts and Assets. How Can I Come into Compliance and Avoid Harsh Penalties?

Forgot to report your foreign assets or accounts? We can help.
  For many people, taxes can be a daunting process. When you add on the stress of having to report income earned from foreign accounts, pursuant to Federal Law, the process can be downright stressful and a hassle. It was Not My Intent to Fail to Report My Foreign Accounts and Assets It’s not uncommon for some people to make a mistake when it comes to reporting their income from foreign sources. For the most…
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