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Is the IRS Offshore Voluntary Disclosure Program or OVDP the Right Alternative for FBAR Compliance?

FATCA has completely changed the international financial landscape - from FBAR crackdowns to the "Panama Papers."  Recently, many people have asked "Is the IRS Offshore Voluntary Disclosure Program or OVDP the right alternative for FBAR compliance or should I/we consider the streamlined application?  The central question from the perspective of...

Don’t Let IRS Impeachment Hearings Fool You – The IRS Offshore and FBAR Audits Aren’t Going Anywhere but Up

Don't be distracted by the US House of Representatives hearings where they are attempting to impeach IRS Commissioner John Koskinen.  The commissioner stands accused of many allegations including lying to congress, abuse of power and other acts that diminish confidence in one of the US Government's most powerful agencies.   Meanwhile,...

US Justice Department Wins First FATCA Legal Victory – Shell Company and Its Nominees

Last week, the US Justice Department announced its first FATCA Legal Victory when it announced that Gregg R. Mulholland, owner of an offshore investment management company based out of Panama and Belize has plead guilty to money laundering and conspiracy.  The firm was accused of fraudulent behavior, manipulating the value of...