Comments on: IRS Plays Chicken with Taxpayers http://www.taxgirl.com/irs-plays-chicken-with-taxpayers/ Paying taxes is painful... but reading about them shouldn't be. Sun, 12 Feb 2012 17:55:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Roth & Company, P.C. http://www.taxgirl.com/irs-plays-chicken-with-taxpayers/comment-page-1/#comment-11488 Roth & Company, P.C. Thu, 20 Aug 2009 15:42:35 +0000 http://www.taxgirl.com/?p=3850#comment-11488 <strong>UBS Settlement: Russian Roulette for offshore investors?...</strong> The IRS will settle for getting the names of 4,450 of the 52,000 or so UBS Swiss bank account holders...... UBS Settlement: Russian Roulette for offshore investors?…

The IRS will settle for getting the names of 4,450 of the 52,000 or so UBS Swiss bank account holders……

]]> By: Kelly http://www.taxgirl.com/irs-plays-chicken-with-taxpayers/comment-page-1/#comment-11484 Kelly Thu, 20 Aug 2009 14:16:45 +0000 http://www.taxgirl.com/?p=3850#comment-11484 Couple of things but the biggie is that, under the Tax Code, taxpayers are required to report worldwide income whether or not it's taxable. Some of the income may qualify for tax treaty treatment or tax credits but it doesn't excuse the taxpayer from reporting the income. My guess is that with 4,500 account holders hiding more than $18 billion, a number of them are likely over the credit amounts... ;) Additionally, there is a requirement to report foreign accounts exceeding $10k under FBAR. Couple of things but the biggie is that, under the Tax Code, taxpayers are required to report worldwide income whether or not it’s taxable. Some of the income may qualify for tax treaty treatment or tax credits but it doesn’t excuse the taxpayer from reporting the income. My guess is that with 4,500 account holders hiding more than $18 billion, a number of them are likely over the credit amounts… ;)

Additionally, there is a requirement to report foreign accounts exceeding $10k under FBAR.

]]> By: UBS Taxpayer Disclosure Update http://www.taxgirl.com/irs-plays-chicken-with-taxpayers/comment-page-1/#comment-11475 UBS Taxpayer Disclosure Update Thu, 20 Aug 2009 04:34:28 +0000 http://www.taxgirl.com/?p=3850#comment-11475 [...] a blog post titled IRS Plays Chicken with Taxpayers, Tax Girl Kelly Phillips-Erb advances the theory that the IRS is stringing out the disclosure of [...] [...] a blog post titled IRS Plays Chicken with Taxpayers, Tax Girl Kelly Phillips-Erb advances the theory that the IRS is stringing out the disclosure of [...]

]]> By: Time Matters Tip - Connecting Existing Matters to a New Form Style : Jeff Krause’s Practice Management Blog http://www.taxgirl.com/irs-plays-chicken-with-taxpayers/comment-page-1/#comment-11469 Time Matters Tip - Connecting Existing Matters to a New Form Style : Jeff Krause’s Practice Management Blog Wed, 19 Aug 2009 23:09:35 +0000 http://www.taxgirl.com/?p=3850#comment-11469 [...] Survivor Update.  Tax Girl has an interesting post on how the IRS is offering a Voluntary Disclosure Program for [...] [...] Survivor Update.  Tax Girl has an interesting post on how the IRS is offering a Voluntary Disclosure Program for [...]

]]> By: D Nemer http://www.taxgirl.com/irs-plays-chicken-with-taxpayers/comment-page-1/#comment-11463 D Nemer Wed, 19 Aug 2009 18:41:14 +0000 http://www.taxgirl.com/?p=3850#comment-11463 What is the theory of taxpayer liability? What is the theory of taxpayer liability?

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