From the monthly archives:
by Phil Hodgen, Hodgen Law Group PC on September 28, 2009
Everyone we work with wants to know “Am I going to jail?” In almost all of the cases the answer is “Ain’t no way!” Here’s one clue about why. If you have the accounts in your own name, you’re safe(r) and if you used a wedding cake of corporations/etc. you’re (ahem) less safe.
Take a [...]
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by Phil Hodgen, Hodgen Law Group PC on September 27, 2009
October 2, 2009.
If you want to consult with us on a possible voluntary disclosure of offshore bank accounts, that’s the date to focus on. We will not schedule any new consultations after that date. If you want to talk to us about your situation, please call +1-626-689-0060, ext 3 (Ellen Kenney) and schedule your consultation.
Why [...]
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by Phil Hodgen, Hodgen Law Group PC on September 24, 2009
If you’re interested in seeing what you get after you clear Criminal Investigations, I’ve attached a copy of the letter that I like to call a “Ticket to Philadelphia.”
This letter means you were accepted into the voluntary disclosure program and your file will now go to the regular civil audit. Originally the civil audits were [...]
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by Phil Hodgen, Hodgen Law Group PC on September 24, 2009
In almost ever voluntary disclosure program application we have going, and in almost every person we consult with, there is a recurring item: there are people who have signature power over the account, but who don’t own the money.
Children are added to their parents’ accounts;
Husband and wife are on an account together; or
Business accounts [...]
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by Phil Hodgen, Hodgen Law Group PC on September 22, 2009
Many people we consult with say that they had accounts at UBS and elsewhere, but closed them and the money has moved elsewhere. Maybe the account was closed in 2009, maybe in 2008, maybe earlier.
Now that UBS will cough up 4,450 names of their customers, these people are wondering about their exposure. They are ex-customers [...]
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by Phil Hodgen, Hodgen Law Group PC on September 21, 2009
The official word came down, as rumored then later published in various places in the press:
IRS Extends Deadline for Disclosing Hidden Offshore Accounts
IR-2009-84, Sept. 21, 2009
WASHINGTON ─ The Internal Revenue Service today announced a one-time extension of the deadline for special voluntary disclosures by taxpayers with unreported income from hidden offshore accounts. These taxpayers now [...]
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by Phil Hodgen, Hodgen Law Group PC on September 20, 2009
Now that the IRS will extend the deadline for voluntary disclosures of unreported foreign bank accounts, we will be available to take on new consultations. We closed off the pipeline for new business to make sure we handled our existing clients with the care and attention they deserve. Now we will be able [...]
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by Phil Hodgen, Hodgen Law Group PC on September 20, 2009
I received word tonight that the IRS will make an announcement tomorrow. The September 23, 2009 deadline for disclosing offshore bank accounts will be extended to October 15, 2009.
More news tomorrow, either confirming or debunking this rumor.
UPDATE: better to have a press report from Bloomberg than rely in insider rumor.
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by Phil Hodgen, Hodgen Law Group PC on September 19, 2009
Just a quick repeat of an earlier post — we are not taking on any more offshore bank account amnesty clients.
Some people have consulted with us and have not decided what to do. If you are in that boat, we will take you on if you want to file with the IRS. [...]
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by Phil Hodgen, Hodgen Law Group PC on September 18, 2009
Srsly. (I told him I’d post this on the web, partly so he can point his CPA at this for instructions on what to do; partly also because I think this might help someone else out there).
CAUTION – this advice is for the gent I just talked to. This [...]
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