tag:blogger.com,1999:blog-1519969502186924526.post533119361536517106..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: Writ Ne Exeat Republica to Restrain from Foreign Travel as Tax Collection Tool (2/11/14)Jack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1519969502186924526.post-68592932183169961452014-03-22T10:48:39.199-05:002014-03-22T10:48:39.199-05:00If this where China or Russia I would not be surpr...If this where China or Russia I would not be surprised but this is the US legal system we are talking about ! What a sad story .<br /><br />1. The Barrett’s we detained five days with out due process and with out legal defense. <br />2. .....Mrs. Barrett could not be located in the system for 3 days. Mr. Barrett for two....<br />3. ..... they were being detained - there were no charges......<br />4. .....the company Mr. Barrett worked for due to harassment by IRS withdrew its financial support for legal assistance for the Barretts....UStaxnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-18412697165641354262014-03-04T11:17:15.364-06:002014-03-04T11:17:15.364-06:00Thank you Mr. Agostino for posting this. I have r...Thank you Mr. Agostino for posting this. I have read it. <br /><br />The report focuses primarily on tax debts and doesn't say much about non-tax (i.e. FBAR) debt. It's not clear what remedies the IRS would have where only FBAR fines are at issue.<br /><br />As to forfeiture of correspondent bank accounts, it seems to me that there are a lot of mental gymnastics that go into arguing that a correspondent account of a foreign bank can be seized because someone has an account at that foreign bank's office. If the bank's correspondent account holds $1 million, and there are 5 accountholders each with a $1 million account at the foreign office, how can the same money belong to each of them? Furthermore, if the (preposterous and illogical, I think) argument is made that the bank's correspondent account belongs to a foreign accountholder and can be seized, couldn't the accountholder make the (equally preposterous) argument that the money is really in the US and therefore no FBAR violation occurred?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-13152611274863734842014-02-11T15:26:54.515-06:002014-02-11T15:26:54.515-06:00Our open source outline summarizes recent IRS and ...Our open source outline summarizes recent IRS and DOJ manual changes for International Tax Collection appears @ https://docs.google.com/file/d/0B719qAMBEjGQaGJ0cFhBb2ViWUU/edit. Comments will be incorporated in future editions.Frank Agostinonoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-74996806291004768242014-02-11T13:51:34.741-06:002014-02-11T13:51:34.741-06:00Small fish need not be concerned, but even larger ...Small fish need not be concerned, but even larger fish if they have not behaved very badly. The taxpayers in the cases have gone far beyond simply failing to report or pay their taxes -- even simply intentionally not reporting or paying.<br /><br />Jack TownsendJack Townsendhttp://www.tjtaxlaw.com/noreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-63080619489239541842014-02-11T13:16:57.275-06:002014-02-11T13:16:57.275-06:00There is a very important policy decision involved...There is a very important policy decision involved here. Germany was able to obtain 26,000 disclosures (in a country with 1/4 the US population) and get $4.75 billion, plus the future income stream on the accounts of those 26,000 disclosures, all in just one year.<br /><br />By contrast, the US had only 24,000 disclosures over the period 2009 through 9/30/2013.<br /><br />Germany has a reasonable approach based on past income nonreporting (I think 10 years' worth of back taxes plus interest if you come in voluntarily.) The US does the same for eight years but adds, on top, a penalty of 27.5% of high balance, regardless of whether the unreported amount was huge or de minimis, and opting out can result in, at best, only 3 years' worth of back taxes, at worst a 300% FBAR penalty on top of taxes interest and accuracy penalty. Meanwhile the US has given an incentive to those with foreign accounts to expatriate, draw down their accounts below $50K (which eliminated the FATCA risk but not the FBAR reporting requirements) and so on.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-43864559416948572262014-02-11T13:00:44.499-06:002014-02-11T13:00:44.499-06:00This is something I have thought about, but wasn&#...This is something I have thought about, but wasn't sure at what point of severity this writ is applied. From reading your post it seems that a small fish in the OVDP process is unlikely to be affected by it.Spaghestti Robotnoreply@blogger.com