The IRS Officer is the Criminal?

It seems as if former IRS employee Missy Sledge tried to pull the wool over the eyes of her former employer. Sledge, who was responsible for conducting due diligence on “suspicious” looking tax returns, was arrested at her desk in Atlanta, Georgia on November 26, 2013 and charged with one count of mail fraud and one count of aggravated identity theft, to which she later plead guilty on February 18, 2014 according to Bloomberg Daily. Missy conspired alongside several other individuals, who remai...

45,000 Taxpayers Participate in IRS Offshore Voluntary Disclosure Producing $6.5 Billion in Tax Revenues

Stopping offshore tax cheating and bringing individuals, especially high net-worth individuals, back into the U.S. tax system has been a top priority of the Internal Revenue Service for several years. IRS offshore voluntary disclosure programs are designed to encourage taxpayers with undisclosed offshore assets to become current with their tax liabilities. These programs have been part of a wider effort to stop offshore tax evasion, which includes enhanced enforcement, criminal prosecutions and...

IRS Commissioner John Koskinen Announces Important Changes to Offshore Account Compliance Programs

On June 18, 2014, IRS Commissioner John Koskinen announced a number of important changes to the IRS offshore account compliance program that the IRS believes will lead to a significant increase in the number of U.S. taxpayers coming forward to report on undisclosed foreign accounts. The steps outlined by the IRS include an expanded streamlined filing compliance process and important modifications to the IRS Offshore Voluntary Disclosure Program, or OVDP. The combined effect of these revisions wi...