A second Special Voluntary Disclosure Initiative has been announced by the IRS to bring offshore accounts back into the US tax system. The new program will be available through August 31, 2011.
According to IRS Commissioner Doug Shulman, “This new effort gives those hiding money in foreign accounts a tough, fair way to resolve their tax [...]
Despite calls for simplifying the tax laws, they have actually been made much more complicated in the last few years. Year after year, there have been numerous tax changes that even some professionals have a tough time keeping up with. This filing season is no different. The 2010 Form 1040 reflects a number of new [...]
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