July 22, 2010 - Phil Hodgen

Pace of offshore account amnesty is dictated by politics

The IRS Commissioner is scheduled to testify before Congress in early October.

He will be pressed to reveal how many cases have been closed under the Voluntary Disclosure Program by the close of the Federal government’s fiscal year, which is 30 September 2010.  Either that or he’s got him some braggin’ he wants to do.  He needs some pelts hanging on the barbed wire out on the back 40, and maybe your pelt is one of them.

For those of you (practitioners and taxpayers) out there on the receiving end of telephone calls from Revenue Agents, this may help you understand.  The Boss Must Look Good.

Voluntary Disclosure