Offshore Voluntary Disclosure Program (OVDP, also was called the Offshore Voluntary Disclosure Initiative – OVDI) was established in 2009 in an effort to eliminate tax evasion from those who invest in offshore accounts. While the program has been modified many times since, the effort to investigate all sources of tax evasion will continue. If there […]
As a citizen of the United States of America, we are required to pay taxes on our income. This even counts for money that is earned outside of the United States for both individuals and corporations. For one reason or another, this doesn’t always happen. Yet there are stiff consequences for tax evasion. Because there […]
According to your Maryland tax attorney, the IRS uses a five step and repeat approach process in regards to OVDP. This process has been quite successful in identifying banks on the blacklist and tax haven jurisdictions. The five step process is as follows: Identify Whether it is OVDP or another type of disclosure program such […]
According to Accounting Today, the Internal Revenue Service is encouraging taxpayers with previously undeclared foreign bank accounts to enter into its Offshore Voluntary Disclosure Program, but there are now choices between a new streamlined version of the OVDP and the regular program that will require careful consideration and advice from your Maryland tax attorney.The program […]
You have indisputable evidence that an employee committed embezzlement against you and/or your company. You’ve terminated him or her immediately so now what? Should you take legal action? Press charges? Emotionally and idealistically, of course, you do. It’s just the right thing to do. If you fail to do so you fail to uphold your […]
If you are finding yourself in need of a fresh start and bankruptcy is your only option our Maryland tax attorney can help you determine if you should file chapter 7 or chapter 13. The major dividing line between the two is income level. If you fall below a certain income level you can qualify […]
Sometimes doing the right thing can be scary especially when it involves the federal government. An individual who notifies the Internal Revenue Service of underpaid taxes or evasion is known as a whistleblower. Whistleblowers have the option to file a lawsuit, which will allow them to receive a percentage of the total amount claimed to […]
Estate planning is the process of planning for your untimely death. This process allows an individual to choose who will take control of all belongings when they pass away. Also, it allows the owner to divide property, possessions, and money among those they love. Estate planning in Washington DC is a necessary, albeit slightly morbid, […]
With tax season quickly approaching it is a good time to learn a little about Maryland tax attorneys. Any time that an individual has a run in with the IRS they should seek out the help of a tax attorney. Tax attorneys specialize in solving tax related problems. Tax laws are incredibly complicated and individuals […]
