It’s a giant data sweep. With a defined aim. Unfortunately, the scheme may be turning out badly, if my experience is typical. Here’s the plan: Announce the amnesty. Yell “Scary Monsters!” as loudly and frequently as you can, and get as much press as you can. Taxpayers apply for the amnesty so they can sleep [...]

Up to now the FBAR amnesty processing dance has been: Step 1. Go to your local IRS Criminal Investigations office. Get cleared there. Step 2. Get your file sent to the IRS Philadelphia unit, where most things international seem to happen. This is where your taxes, penalties, and interest would be calculated. I know it [...]

The IRS process for starting an amnesty application for an offshore bank account has an interesting thing in it. You tell me: sneaky or sloppy? The process up to now The process for an amnesty application up to now has been pretty clean. Start the voluntary disclosure process, go all the way to the end, [...]

The IRS is changing the way this is done.  My guess?  Too much paperwork.  They need triage to sort the voluntary disclosures into the “Woo hoo! We landed a big one!” pile and the “Meh, that’s boring!” pile. We have finally migrated to a formal letter with actual information being asked.  This should eliminate the [...]

It brings to mind Emily Litella.  “Never mind,” says the IRS. The IRS just announced that — despite the changes to the FBAR instructions made effective January 1, 2009 — nonresidents do not have to file Form TD F 90-22.1.  Only citizens, U.S. residents, and domestic entities need to do so. Announcement 2009-51 Temporary Suspension [...]