Security Clearance for Government Workers with Unfiled Tax Returns and Tax Issues

Government workers and contractors with tax issues or unfiled returns are often at risk of losing their high-level security clearances. At Rosefelt & Associates, our dual licensed tax attorney and CPA understands the impact this can have on your career, as well as on you and your family’s financial security. Our firm is experienced in resolving tax issues and getting clients back into compliance to preserve or facilitate the renewal of security clearances. Government Gets Tough On Investi...

Qualifying for Innocent Spouse Relief While Going Through Divorce

Divorce often causes a significant financial burden, in addition to serious tax implications. Divorce proceedings often lead to spouses becoming aware for the first time of their joint tax issues with an ex-spouse. At Rosefelt & Associates, our professional dual licensed tax attorney and CPA assists clients in addressing and resolving these types of issues. In many cases, you may be eligible for innocent spouse relief for some or all of your financial responsibility in the tax debts your for...

IRS Announces OVDP Success

Today, the Internal Revenue Service (IRS) is drawing attention to the success of its efforts in bringing taxpayers with unreported offshore accounts back into tax compliance. Since 2009, around 100,000 U.S. taxpayers have utilized the IRS Offshore Voluntary Disclosure Program (OVDP) and its streamlined counterpart to report previously undisclosed foreign accounts, allowing the IRS to collect an approximate $10 billion in taxes, interest and penalties. The passing of the Foreign Account Tax Compl...

Ex-UBS Banker Advocates for Whistleblower Protections

Former UBS banker turned whistleblower Bradley Birkenfeld has called for changes in the Swiss law to protect whistleblowers, as detailed in a recent interview with Bloomberg BNA. Birkenfeld was awarded $104 million in 2012 by the U.S. government for testifying about Swiss bank UBS’s asset protection programs for U.S. taxpayers. His testimony led to wide-ranging probes by the U.S. government into UBS’s activity and culminated in the collection of more than $5 billion in penalties by the U.S. gove...

The 2015 Maryland Tax Amnesty Program

The Maryland General Assembly recently passed a bill on April 6th, 2015, providing tax amnesty to qualifying taxpayers from September 1st, 2015, through October 30th, 2015. Approved by Governor Larry Hogan Jr. and scheduled for enactment on June 1st, 2015, the Tax Amnesty Program will “waive certain penalties and interest imposed for the nonpayment, non-reporting, or underreporting of certain taxes under certain circumstances.”   These penalties and interest include all civil penalties except fo...