From the monthly archives:
by Phil Hodgen, Hodgen Law Group PC on October 30, 2009
I’ve put up a post over at hodgen.com about an upcoming House Ways & Means hearing that will touch on FBAR matters. The post includes the press release telling you how you can submit written comments.
Meh. Any of you have a teenager who doesn’t need to hear anything from you because he knows [...]
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by Phil Hodgen, Hodgen Law Group PC on October 23, 2009
The TD F 90-22.1 filing requirement. As usual, the Germans have a word to describe this form and the filling in thereof (he said, Biblically):
Arbeitsbeschaffungs-Maßnahmen
Thanks, Arndt!
Arndt provides his own informal definition:
“a measure to attract or create work; used in a cynical manner and the nature of this “work” is most often utterly unnecessary.”
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by Phil Hodgen, Hodgen Law Group PC on October 22, 2009
Based on conversations with people I know . . . .
Accounts closed – even over a year ago – are getting the bad letter. I don’t know how far back in time they’re going, but “closed” isn’t going to protect you.
Account balance seems to go surprisingly low. I have have seen the bad [...]
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by Phil Hodgen, Hodgen Law Group PC on October 19, 2009
Go to my main blog for a post on a call I received this morning from a gentleman who missed the deadline for disclosing signature control over a foreign bank account:
Low balance in the account — high enough to trigger the reporting requirement but low enough so you wonder why the IRS would even care;
It’s [...]
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by Phil Hodgen, Hodgen Law Group PC on October 15, 2009
We faxed off our last application about half an hour ago. All of the people who told us they want to apply — they’re in the pipeline at the IRS.
I got an email from someone a few minutes ago asking for help on an amnesty application that has already been launched. Happy to [...]
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by Phil Hodgen, Hodgen Law Group PC on October 15, 2009
I got a phone call from KPCC this morning. Would I be on a talk show at 11:26 a.m. to talk about the voluntary disclosure program for offshore bank accounts? The host is Larry Mantle and his son and my daughter are in school together. Larry’s a nice guy. His show [...]
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by Phil Hodgen, Hodgen Law Group PC on October 15, 2009
I’m getting calls. Bam. Bam. Bam. Would love to talk but there are people who paid us money to get things done here. We owe them our best efforts.
If you’re in the position that you think you might need to do a voluntary disclosure of an offshore bank account, today [...]
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by Phil Hodgen, Hodgen Law Group PC on October 15, 2009
Yes it is possible to do this and–if things go as hoped–maintain the privacy you expected. I know of a reasonable-sized group of U.S. account holders doing this. I wish them well. It postpones the inevitable, as far as I’m concerned. But maybe you want to do this. Maybe you [...]
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by Phil Hodgen, Hodgen Law Group PC on October 14, 2009
Here’s a lightly adapted version of the letter we use. If you want to launch your own voluntary disclosure for your offshore account, here’s what to do:
Go to the IRS website and find the address and phone number for the IRS Criminal Investigations office for where you live.
Call them and get their fax number.
Do [...]
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by Phil Hodgen, Hodgen Law Group PC on October 14, 2009
I’m sitting at home and the mobile keeps ringing. +1-626-437-2500 until midnight. Go ahead. Call. I’m working at home on the laptop and rocking out to War (“Me and Baby Brother” over and over and over) and Traffic (Low Spark of High Heel Boys when I get sick of War).
People are [...]
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