Recent Extension of the OVDI Provides Last Chance for People Hiding Assets Overseas

PRLog (Press Release) - Aug 31, 2011 - The unfortunate natural disaster of Hurricane Irene prompted the IRS to extend the due date for 2011 Offshore Voluntary Disclosure Initiative (OVDI) requests until September 9, 2011. This offers a small extension beyond the original deadline of August 31, 2011.

The IRS is sending a message to taxpayers that they are serious about tax compliance. This is the last opportunity for those participating in tax-avoidance schemes involving offshore activity to come clean, get current and avoid possible criminal prosecution.

Recent cases resulting from the investigation into clients of Union Bank of Switzerland (UBS) include guilty pleas for willfully failing to file Reports of Foreign Bank and Financial Accounts (FBAR) with the IRS, filing false federal income tax returns and income tax invasion. Penalties included civil penalties, back tax payments, probation and home confinement. As stated in IRS Commissioner Doug Shulman's Statement regarding UBS, “We will tirelessly pursue anyone who tries to use international borders to their advantage and cheat honest taxpayers. As I’ve said throughout my tenure as Commissioner, combating international tax evasion will continue to be a top priority.”

Says Nicole Pokusay, Senior Lead Agent for StopIRSDebt.com, “We have been receiving many inquiries from people regarding offshore accounts. It becomes clear that they are hesitant to come clean, fearing the financial penalty.” The IRS believes when people cheat on their taxes, the vast majority of honest U.S. taxpayers suffer the consequences and have to make up the difference. Pokusay continues, “We encourage all our clients to get compliant and have been working hard to file forms by the August 31 deadline. This small extension will allow us to serve more people who had been procrastinating taking part in the 2011 OVDI.”

Taxpayers should be aware that the Sept. 9, 2011, extension also applies to taxpayers filing delinquent FBARs.

About StopIRSDebt.com - StopIRSDebt.com offers tax relief services for both state and federal tax debt. The team at StopIRSDebt has assisted thousands of customers and can service clients throughout the United States. From tax preparation to lifting wage garnishments, our team of tax professionals is ready to assist you. www.StopIRSDebt.com or 1-888-9-STOP-IRS

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Peliculas Online

Common IRS Extension Misconceptions Leave Many Americans Seeking Tax Relief

PRLog (Press Release) - Aug 02, 2011 - StopIRSDebt.com, experienced tax debt relief firm, shares a simple reminder to Americans about IRS extensions. Extensions, like the automatic extension provided to taxpayers abroad who missed the June 15 deadline to file their 2010 federal income tax returns, does not mean you have an extension to pay any taxes owed.

Taxpayers who take advantage of the filing extensions, but don’t pay their estimated taxes due, begin getting charged interest, compounded daily.  “Many taxpayers are unaware that the filing extensions offered by the IRS apply only to the actual tax return filing, not the payment.  The resulting interest and penalties make their tax debt grow to an amount that becomes difficult for the average American to pay off,” says Atyria Clark, Lead Attorney for StopIRSDebt.com.

The current interest rate is four percent per year, compounded daily to any payment made after April 18, 2011.  Late payment penalties are usually .5 percent per month and apply to payments made after June 15, 2011.  Says Clark, “Many of our clients had intentions of paying their taxes, but took advantage of the extension without making a payment.  By not understanding the laws, they quickly found themselves unable to pay their tax debt and had to turn to us to negotiate a tax relief plan with the IRS on their behalf.”

As noted on the IRS site, “Please be aware that an extension of time to file your return does not grant you any extension of time to pay your tax liability.”

About StopIRSDebt.com - StopIRSDebt.com offers tax relief services for both state and federal tax debt.  The team at StopIRSDebt has assisted thousands of customers and can service clients throughout the United States.  From tax preparation to lifting wage garnishments, our team of tax professionals is ready to assist you.  www.StopIRSDebt.com or 1-888-9-STOP-IRS

View the original article here

Peliculas Online