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November 21, 2010

Current Status of IRS Offshore Voluntary Disclosure Program and Possible Future Program

The IRS has told the Wall Street Journal about the current  status of their initial Offshore Voluntary Disclosure Program.  The IRS has  also stated there may be a future program with  higher penalties than the original program which expired of October 15, 2009. Click here to read the Wall Street Journal Article 

November 11, 2010

2010 Year End US Income Tax Planning

Its time to try to reduce your taxes for 2010 by doing year end tax planning.  Our year end tax planning letter is on our website. Click Here to Get Year End Tax Planning Ideas

IRS PRESSURES FOREIGN BANKS TO DISCLOSE DATA ON US TAXPAYERS

The Financial Times reports that the IRS and the US Justice Department are aggressively pushing Foreign Banks to disclose information on US Citizens who have accounts and may be evading taxes. Read More Here

November 10, 2010

See How Your IRS Income Tax Payments Are Spent by Federal Government

The House of Tax and Spend
Fidelity Investment has done a great job of showing how your US income tax payments are spent by the Federal Government.   Fidelity Investments - How Your Tax Dollars are Spent.   It is easy to see where many items could be cut back.