Tax bureaucracy

Decline of American Civilization, Form 8938 Edition

We’re working on a tax return project. It involves a 2012 Form 8938 (PDF). Forty-six (multi-word obscenity deleted) pages long. That’s how long the Form 8938 is, in draft form. And we ain’t done yet, pardner. This here thing might be getting’ biggerer a’fore we’re done. And of course there’s the FBAR that goes along […]

Note to Concerned Immigrant

A reader who nicknamed himself/herself “Concerned Immigrant” left me a message from the Contact page of this site. Hi Concerned Immigrant. I sent you am email in response. It bounced because you gave an obviously fake email address. Perhaps you just wanted to vent your anger at the FBAR stuff your parents face. Anyway. Here […]

Yet another FBAR minnow to the guillotine

I have permission to post this anonymously. With regards to the US Government/IRS/FBAR/OVDI witchhunt/shakedown, I fit the mantle of victimhood at the hands of our so-called government for the people, of the people and by the people to a T. Whether stupidly or not, I came forth this last March, because I did not disclose […]

is this the OVDI tipping point? This article has more than 300 comments. Finally Mr. Shulman has hit the mainstream consciousness, but not in the way he anticipated. Canada holds the moral high ground here. This may mark the tipping point at which diplomacy and sanity force Mr. Shulman’s retreat. I hope so. Go Canadians. Oh by the way. You […]

Filing late Form 3520’s and the IRS robot

Douglas Shulman thinks everyone knows as much about tax law as he does.*  Shockingly, a lot of regular people walking around the planet are unfamiliar with the nuances of the Internal Revenue Code, and so–innocently and in good faith–they don’t know about some pieces of paper that Douglas Shulman thinks they should. Upshot:  we do […]

Credit Suisse in the crosshairs?

Reading the tea leaves for cases we are handling leads me to this idea. Also the fact that a reliable correspondent got a letter saying all US domiciled persons with accounts are being closed out immediately. (Thanks for the tip!)

The magnificent equality of the FBAR amnesty

While poking around the interwebs looking for the source of Richard Westin’s quote, I came across this: The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread. Anatole France, The Red Lily, 1894, chapter 7. [French novelist (1844 […]

If by “entice” you mean “submit and be assimilated” then yes

We know it is coming.  A new amnesty. (Aside.  The IRS people aren’t supposed to use the word “amnesty” in describing the Offshore Voluntary Disclosure Program.  Just like they’re not allowed to use the words “tax protestor.”) In the Jan. 24, 2011 edition of Tax Notes Today, 2011 TNT 15-1, there is a report from the […]

IRS wants US banks to report interest earned by nonresidents

Our government is in the throes of attempting to force U.S. banks to report interest earned by nonresident depositors.  This is stupid on stilts. Bank interest earned by nonresidents is not taxed in the USA.  This is built into the Internal Revenue Code. If nonresidents have a choice where to put their money (and they […]

New voluntary disclosure amnesty program coming?

The vast, vast majority of Americans with offshore bank accounts did not enter the 2009 Voluntary Disclosure Program.  I would guess that the participation rate is in the low single digits — people who declared previously unreported accounts are probably outnumbered 20 to 1 by the people who have not reported them. The Amnesty Bus […]