Offshore Hide and Seek with the IRS is Coming to an End
StopIRSDebt.com helps taxpayers hiding assets offshore come clean by stressing the importance of meeting the August 31, 2011 filing deadline for the 2011 Offshore Voluntary Disclosure Initiative (OVDI).
Los Angeles, CA, July 14, 2011 --(PR.com)-- www.StopIRSDebt.com, experienced tax debt relief firm, stresses the importance of meeting the August 31, 2011 filing deadline for the 2011 Offshore Voluntary Disclosure Initiative (OVDI). With the goal of bringing offshore money back into the U.S. tax system, this initiative offers benefits to encourage taxpayers who have undisclosed foreign accounts to become compliant with U.S. tax laws.
Taxpayers using undisclosed foreign accounts to avoid paying their tax liability who miss this deadline will risk IRS detection and possible criminal prosecution. "We have seen an influx of clients who would like to take advantage of this initiative, but feel overwhelmed because they have not claimed the income for many years and fear the financial burden the disclosure may cause," says Nicole Pokusay, Senior Lead Agent for StopIRSDebt.com.
The penalties in most cases are 25% of the amount in the foreign bank accounts in the year with the highest aggregate account balance in the 2003 – 2010 time period. Some taxpayers may qualify for lower rates under certain criteria. Participants must also pay back-taxes and interest for up to eight years as well as paying accuracy-related penalties. Says Pokusay, “To avoid prosecution and much more severe penalties and fees, we are assisting our clients with all necessary forms, letters and amended tax returns to meet the August 31 deadline.”
Combating international tax evasion is a top priority for the IRS. As IRS Commissioner Doug Shulman noted, “For those hiding cash or assets offshore, the time to come in is now. The risk of being caught will only increase.”
About StopIRSDebt.com:
StopIRSDebt.com offers tax relief services for both state and federal tax debt. The team at StopIRSDebt has assisted thousands of customers and can service clients throughout the United States. Visit us on Facebook or follow us on Twitter. From tax preparation to lifting wage garnishments, our team of tax professionals is ready to assist you at 1-888-9-STOP-IRS.
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Taxpayers using undisclosed foreign accounts to avoid paying their tax liability who miss this deadline will risk IRS detection and possible criminal prosecution. "We have seen an influx of clients who would like to take advantage of this initiative, but feel overwhelmed because they have not claimed the income for many years and fear the financial burden the disclosure may cause," says Nicole Pokusay, Senior Lead Agent for StopIRSDebt.com.
The penalties in most cases are 25% of the amount in the foreign bank accounts in the year with the highest aggregate account balance in the 2003 – 2010 time period. Some taxpayers may qualify for lower rates under certain criteria. Participants must also pay back-taxes and interest for up to eight years as well as paying accuracy-related penalties. Says Pokusay, “To avoid prosecution and much more severe penalties and fees, we are assisting our clients with all necessary forms, letters and amended tax returns to meet the August 31 deadline.”
Combating international tax evasion is a top priority for the IRS. As IRS Commissioner Doug Shulman noted, “For those hiding cash or assets offshore, the time to come in is now. The risk of being caught will only increase.”
About StopIRSDebt.com:
StopIRSDebt.com offers tax relief services for both state and federal tax debt. The team at StopIRSDebt has assisted thousands of customers and can service clients throughout the United States. Visit us on Facebook or follow us on Twitter. From tax preparation to lifting wage garnishments, our team of tax professionals is ready to assist you at 1-888-9-STOP-IRS.
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Contact
Green Candy Media
Nicole Pokusay
(323) 936-0409
www.StopIRSDebt.com
Nicole Pokusay
(323) 936-0409
www.StopIRSDebt.com
Contact
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