tag:blogger.com,1999:blog-1519969502186924526.post1373981327326473120..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: For Taxpayers and Practitioners Who Cannot Make the 12/8/11 OVDI Deadline (12/7/11)Jack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-1519969502186924526.post-51777127326050140342011-12-09T05:57:55.834-06:002011-12-09T05:57:55.834-06:00Thanks all for the advice. I have filed my 2010 r...Thanks all for the advice. I have filed my 2010 return to the NC service center and a copy was submitted with the package yesterday. This blog is god sent - Jack thanks for hosting it and doing such a big public service. I realize, how precious time is - so really appreciate the effort. I had small foot fault but decided to do the right things. My taxes, penalty and in-lieu penalty is just under 10 thousand, but attorney and accountant fee will add up to a higher #.<br /><br /> Also, I am glad to see that IRS is waking up to the collateral damage of OVDI. If I was living in US, and had missed reporting the income, all I would have paid was less than half the amount of the check I wrote.<br /><br />Wish commissioner Shulman gets an expat assignment, misses out reporting small amounts and can then relate to what we are going through.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-37509215457002921632011-12-08T11:14:31.448-06:002011-12-08T11:14:31.448-06:00To Roy Berg at 12/8/11 10:30 am:
As I understand ...To Roy Berg at 12/8/11 10:30 am:<br /><br />As I understand it the IRS has given out inconsistent answers on this and perhaps have now resolved the inconsistency for the later date. In any event, I don't they they will footfault 12/9 submissions. (Really doubt that they would footfault later submissions with some reasonable explanation and/or groveling, but only the IRS can make that determinations.)<br /><br />Jack TownsendJack Townsendhttps://www.blogger.com/profile/14469823736335455874noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-1245745236296950322011-12-08T10:39:24.560-06:002011-12-08T10:39:24.560-06:00I would file through the IRS service center and se...I would file through the IRS service center and send a copy with your OVDI to be on the safe side.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-87802967356425921912011-12-08T10:30:06.798-06:002011-12-08T10:30:06.798-06:00The recording on the Hotline says that packages mu...The recording on the Hotline says that packages must be submitted by December 9.Roy Berghttp://www.moodystax.comnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-88168954191608547382011-12-08T09:00:05.776-06:002011-12-08T09:00:05.776-06:00Re Anonymous December 8, 2011 7:12 AM
Hi I was ...Re Anonymous December 8, 2011 7:12 AM <br /><br />Hi I was also tax "compliant" for 2010 and filed the return electronically the regular way. <br /><br />I sent a copy of the 2010 return with the OVDI package. This was based on advice from my tax attorney and OVDI hotline. In fact, my tax attorney told me that there was no need to send the 2010 tax return as part of OVDI package. I did so in any case.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-24258811356508973912011-12-08T07:12:07.919-06:002011-12-08T07:12:07.919-06:00All,
I am in OVDI and ready to submit the package...All, <br />I am in OVDI and ready to submit the package. I have a question on 2010 return. My 2010 return is on an extension thro Dec 15 as I live overseas and I am tax compliant for 2010. Our attorney is saying to file the 2010 return along with OVDI package. <br />I am wondering if we file 2010 return with the package, how long will it take for it to be assessed and is this the way to go? Or, should we file the 2010 return separately (under standard practice of filing extended returns at NC service center), and also send a copy with OVDI package. I just want to make sure my 2010 return is not judged to be delinquent because it may take several months for an OVDI examiner to be assigned my case.<br /><br />Will really appreciate any advice.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-87877135906236524542011-12-07T17:28:14.895-06:002011-12-07T17:28:14.895-06:00One person noted that the telephone number for Car...One person noted that the telephone number for Carl Barkow of Austin OVDI was incorrect. It indeed was. I have corrected the text. The number is is (512) 460-8953.Jack Townsendhttps://www.blogger.com/profile/14469823736335455874noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-80565194240595079822011-12-07T15:32:12.613-06:002011-12-07T15:32:12.613-06:00We are faced with this situation for a number of O...We are faced with this situation for a number of OVDI clients. I think it will come down to good faith attempts to comply on time. I would submit as much possible by Dec 8. For what is missing, can the taxpayer provide documentation of his/her attempts to comply? For instance, a record of correspondence to the foreign financial institution requesting the account records. If the taxpayer can show multiple attempts to get the documentation, and these attempts date back months (not on the eve of the deadline), then the taxpayer may demonstrate reasonable efforts to comply. Also, if the taxpayer can make an advance payment of his tax liability by December 8, then that would show good faith.Asher Rubinsteinhttp://www.assetlawyer.comnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-50892360198733920322011-12-07T15:25:26.851-06:002011-12-07T15:25:26.851-06:00Jack: I tried calling (512)460-7325 several times...Jack: I tried calling (512)460-7325 several times and all I got was the fax machine sound. Was there a misprint in the number for Mr. Barkow? Thank you.Anonymousnoreply@blogger.com