tag:blogger.com,1999:blog-1519969502186924526.post2667440016687008635..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: HSBC Depositor Pleads Guilty to Conspiracy (1/7/13)Jack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1519969502186924526.post-45860116129681460932013-03-07T15:59:49.657-06:002013-03-07T15:59:49.657-06:00The answer varies by state. In my state (apparent...The answer varies by state. In my state (apparently) it's the same years as OVDI plus interest but no accuracy related penalty. I'm saying apparently because I haven't gotten a clear answer, so I'd rather not identify the state.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-66436480469566581822013-03-05T16:25:57.071-06:002013-03-05T16:25:57.071-06:00Thanks, tj. Good information.
Jack TownsendThanks, tj. Good information.<br /><br />Jack TownsendJack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-14190146258859988002013-03-05T14:46:58.865-06:002013-03-05T14:46:58.865-06:00My understanding is that you will pay back state t...My understanding is that you will pay back state tax plus interests and accuracy penalty for all the years that you have opened for OVDI. There is no other penalty (like offshore penalty for state). The interest rate would be much higher than that of IRS. I found it ridiculous that some states would impose 8% on interest rate.ijhttp://ij.org/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-75899655531214432552013-03-04T19:58:02.184-06:002013-03-04T19:58:02.184-06:00We entered the OVDI 2011. Looks like we will be pa...We entered the OVDI 2011. Looks like we will be paying 25% FBAR penalty in addition to the tax, interest plus 20% penalty on the tax. Now, being an Illinois resident, we will have to ammend the Illinois 1040's for 2003 through 2010. Does anyone have gone through Illinois ammends for 2003-2010? How much interest (what is the website to calculate the interest on the Illinois past due tax?) and penalty if any?Please help.....almost broke after the OVDI experience.anon-illinoisnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-66051657436472154142013-03-01T13:19:23.987-06:002013-03-01T13:19:23.987-06:00Thanks, I just posted it.Thanks, I just posted it.Jack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-83405950205405574512013-03-01T12:15:14.127-06:002013-03-01T12:15:14.127-06:00There was another HSBC client plea few days ago.
S...There was another HSBC client plea few days ago.<br />See<br />http://www.justice.gov/usao/nj/Press/files/Gupta,%20Sameer%20Plea%20News%20Release.html<br /><br /><br />Is this related to HSBC India crackdown or a side effect?Mikenoreply@blogger.com