I would urge anyone with
offshore accounts holding untaxed income or gains to take advantage of this simple and straightforward scheme.
The IRS has been studying
offshore accounts since October 2000, when the first Federal judge granted it the authority to issue a series of "John Doe" summonses to several financial and commercial businesses, to obtain records of U.
Virtually all
offshore accounts have internet, telephone and fax banking, so it is easy to access your money.
A Canadian bank has said that it would be revealing details of US taxpayers with
offshore accounts in a Caribbean bank in response to a request from the United States Internal Revenue Services.
It's fair to say that things didn't progress from there -
Offshore Account was off track for 15 months from December that year, and is without a win in nine outings since.
One way or another,
offshore account holders - depending on the laws of their home country or current country of residence - will have to pay their dues.
Offshore account holders making disclosures under the NDO face a fixed penalty of ten per cent, but those taxpayers who were informed of the previous ODF by HMRC and who did not come forward under the 2007 ODF will face a 20 per cent fixed penalty.
Meanwhile as the dust settles following the Grand National Charlie Swan is already looking forward to next year's Aintree showpiece for both
Offshore Account and Oodachee.
OFFSHORE ACCOUNT will not race again this season after trainer Charlie Swan yesterday reported that the eight-year-old has had a setback, writes Tony O'Hehir.
If a payment to an
offshore account is normally subject to tax under Sec.
OFFSHORE ACCOUNT has been given the green light to run in next week's John Smiths Grand National at Aintree.
At its most basic a UK domiciled and resident citizen may for example have an
offshore account simply to facilitate the paying of expenses of a holiday home abroad.
