The IRS recently released new Frequently Asked Questions (FAQs) for the 2012 Offshore Voluntary Disclosure Program (OVDP).
On June 26, 2012, the IRS made an Announcement IR-2012-65, rolling out the newest program in a plan to help US citizens residing overseas, as well as dual citizens, to catch up with their US tax filing obligations and provide assistance for people with foreign retirement plan issues. T
The deadline for filing a Report of Foreign Bank and Financial Accounts (FBAR) is approaching and the taxpayers should file their FBAR forms (Form TD F 90-22.1) for the 2011 tax year no later than June 30, 2012.
IRS offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers to clear up their tax problems and in many cases more quickly than in the past.
Credit Suisse has provided U.S. investigators with the information related to U.S. account holders.