Gang of Six Tax Reform

A new plan has emerged in Washington in the context of debate over raising the debt ceiling, the legal limit of how much the federal government can borrow.  Lawmakers have proposed several plans that, in addition to raising the debt ceiling, try to address the country’s growing deficit.  Many of theses have ended up bogged down in partisan…

Offshore Disclosure

In 2009 the IRS conducted an Offshore Voluntary Disclosure Program, OVDP for short, in which taxpayers could come clean as it were with the IRS about their offshore accounts and other assets, pay back taxes and other penalties, and thus avoid criminal proceedings.  That program ended October 15, 2009, but this year the IRS has…