Attorney Jack Townsend has another must read post about the horrible administration of the IRS offshore voluntary compliance program — a program that treats an expat or green card holder who has tried to pay all taxes due just like it treats a money-laundering tax evader.
I am concerned that the IRS does not have any idea as to the damage it is doing among this group of people whose footfault was small on any relative scale and in many cases non-existent in terms of culpability (they really did not know they had income tax and FBAR reporting obligations).
Read the whole thing. Everything in it is consistent with what I’ve seen.
Related: Offshore account holders: should you use the ‘amnesty’?
Tags: FBAR, FBAR amnesty, OVDI, shooting jaywalkers
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not necessarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to
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