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News & Events

Archive by Year:2018

OVDP Ends in September: What Does This Mean for Offshore Investors?

Offshore Account Update

Posted in on March 30, 2018

If you are obligated to file tax returns and pay taxes in the United States, you have certain obligations with respect to any foreign accounts you maintain. U.S. affiliated taxpayers are expected to declare all of their offshore accounts to the IRS. Taxpayers also must pay taxes on the income they earn through investments in offshore accounts.

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The Paradise Papers Expose the Business Side of Tax Avoidance

Offshore Account Update

Posted in on February 28, 2018

The Paradise Papers included 13.4 million documents about offshore financial accounts that were turned over to reporters. The Paradise Papers followed other leaks of financial information, including the Panama Papers. All of the leaks of offshore accounts are intended to shed light on how wealthy individuals hide their funds and move money around the world in order to avoid paying taxes.

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Will the IRS Allow U.S. Taxpayers With Bitcoins to Declare Them in an Amnesty Program?

Offshore Account Update

Posted in on January 31, 2018

If you are a taxpayer with investments in Bitcoin, it's important to follow the IRS reporting rules. The IRS has begun to crack down on undeclared Bitcoin transactions and those who are concerned they could come under IRS investigation should talk with a New Jersey tax attorney about their options.

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