We’ve written before about attorneys using fear of criminal prosecution to pressure people to enter the IRS Offshore Voluntary Disclosure Program (OVDP). For instance, we recently wrote:Continue Reading
2013 Year End Notes, Part 3: Offshore Considerations
During 2013, the IRS and U.S. Department of Justice (DOJ) continued to successfully attack offshore banking “secrecy”. The IRS’ success against UBS and other banks eroded Swiss banking secrecy, effectively ending “going offshore” to hide money from the IRS. Going offshore for asset protection from civil creditors, however, is still viable and effective, but must be tax-compliant.Continue Reading