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	<title>Estate Planning, Probate, Tax and Elder Law Center &#187; penalties and interest</title>
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	<description>Your Information Center for wills, trusts, estates, tax, asset protection planning, estate tax minimization, special needs trusts, medicaid planning, succession planning, and estate administration.</description>
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		<title>Analysis of the new 2012 Offshore Voluntary Disclosure Program (OVDP)</title>
		<link>http://www.patellawoffices.com/blog/protecting-your-assets/analysis-of-the-new-2012-offshore-voluntary-disclosure-program-ovdp/</link>
		<comments>http://www.patellawoffices.com/blog/protecting-your-assets/analysis-of-the-new-2012-offshore-voluntary-disclosure-program-ovdp/#comments</comments>
		<pubDate>Tue, 10 Jan 2012 13:53:36 +0000</pubDate>
		<dc:creator>Parag Patel, Attorney</dc:creator>
				<category><![CDATA[Asset Protection Against Risks]]></category>
		<category><![CDATA[Defending and Planning Against Taxes]]></category>
		<category><![CDATA[amnesty]]></category>
		<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[FBAR]]></category>
		<category><![CDATA[foreign account]]></category>
		<category><![CDATA[hsbc]]></category>
		<category><![CDATA[offshore]]></category>
		<category><![CDATA[offshore accounts]]></category>
		<category><![CDATA[opt out]]></category>
		<category><![CDATA[ovdi]]></category>
		<category><![CDATA[OVDP]]></category>
		<category><![CDATA[penalties and interest]]></category>
		<category><![CDATA[tax]]></category>
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		<category><![CDATA[voluntary disclosure]]></category>

		<guid isPermaLink="false">http://www.patellawoffices.com/blog/?p=624</guid>
		<description><![CDATA[Yesterday the Internal Revenue Service opened its Offshore Voluntary Disclosure Program (OVDP) to encourage more taxpayers with assets in undeclared foreign bank accounts to come forward.  While the OVDP was not expected by most tax lawyers and professionals, it may be welcomed by many of our clients who missed the recently closed 2011 OVDI program. [...]]]></description>
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		<title>IRS Reminds U.S. citizens and dual citizens about U.S. filing requirements</title>
		<link>http://www.patellawoffices.com/blog/protecting-your-assets/irs-reminds-u-s-citizens-and-dual-citizens-about-u-s-filing-requirements/</link>
		<comments>http://www.patellawoffices.com/blog/protecting-your-assets/irs-reminds-u-s-citizens-and-dual-citizens-about-u-s-filing-requirements/#comments</comments>
		<pubDate>Tue, 13 Dec 2011 01:55:59 +0000</pubDate>
		<dc:creator>Parag Patel, Attorney</dc:creator>
				<category><![CDATA[Asset Protection Against Risks]]></category>
		<category><![CDATA[Defending and Planning Against Taxes]]></category>
		<category><![CDATA[foreign account]]></category>
		<category><![CDATA[ovdi]]></category>
		<category><![CDATA[penalties and interest]]></category>
		<category><![CDATA[voluntary disclosure]]></category>

		<guid isPermaLink="false">http://www.patellawoffices.com/blog/?p=612</guid>
		<description><![CDATA[In a fact sheet (IRS FS-2011-13) released last week, the IRS reminded U.S. citizens and dual citizens of the United States and foreign countries who live abroad about U.S. filing requirements, including Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR).  No new developments are provided, only reminders of existing laws and [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Another Bank Discloses Accountholders: Credit Suisse to Turn Over U.S. Account Data</title>
		<link>http://www.patellawoffices.com/blog/protecting-your-assets/another-bank-discloses-accountholders-credit-suisse-to-turn-over-u-s-account-data/</link>
		<comments>http://www.patellawoffices.com/blog/protecting-your-assets/another-bank-discloses-accountholders-credit-suisse-to-turn-over-u-s-account-data/#comments</comments>
		<pubDate>Tue, 29 Nov 2011 03:50:19 +0000</pubDate>
		<dc:creator>Parag Patel, Attorney</dc:creator>
				<category><![CDATA[Asset Protection Against Risks]]></category>
		<category><![CDATA[Defending and Planning Against Taxes]]></category>
		<category><![CDATA[amnesty]]></category>
		<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[foreign account]]></category>
		<category><![CDATA[hsbc]]></category>
		<category><![CDATA[offshore]]></category>
		<category><![CDATA[offshore accounts]]></category>
		<category><![CDATA[penalties and interest]]></category>
		<category><![CDATA[ubs]]></category>
		<category><![CDATA[voluntary disclosure]]></category>

		<guid isPermaLink="false">http://www.patellawoffices.com/blog/?p=609</guid>
		<description><![CDATA[Earlier this month Credit Suisse Group AG, Switzerland’s second-biggest bank, told U.S. clients it is giving confidential client account data to the Swiss tax authorities, who will decide whether to disclose it to the Internal Revenue Service. The U.S. is probing whether Credit Suisse helped Americans evade taxes, and the IRS used a 1996 tax [...]]]></description>
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		<title>The Risks of &#8220;Opting Out&#8221; of OVDI</title>
		<link>http://www.patellawoffices.com/blog/protecting-your-assets/the-risks-of-opting-out-of-ovdi/</link>
		<comments>http://www.patellawoffices.com/blog/protecting-your-assets/the-risks-of-opting-out-of-ovdi/#comments</comments>
		<pubDate>Sat, 29 Oct 2011 22:18:16 +0000</pubDate>
		<dc:creator>Parag Patel, Attorney</dc:creator>
				<category><![CDATA[Asset Protection Against Risks]]></category>
		<category><![CDATA[Defending and Planning Against Taxes]]></category>
		<category><![CDATA[amnesty]]></category>
		<category><![CDATA[FBAR]]></category>
		<category><![CDATA[foreign account]]></category>
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		<category><![CDATA[opt out]]></category>
		<category><![CDATA[ovdi]]></category>
		<category><![CDATA[penalties and interest]]></category>
		<category><![CDATA[tax crime]]></category>
		<category><![CDATA[voluntary disclosure]]></category>

		<guid isPermaLink="false">http://www.patellawoffices.com/blog/?p=592</guid>
		<description><![CDATA[Under the 2011 OVDI voluntary disclosure program, the penalties for failing to timely file Foreign Bank Account Reports, (FBAR’s) and the penalties for failure to file information returns (such as Controlled Foreign Corporation tax returns) were combined into a single miscellaneous civil penalty. The penalty combined the FBAR penalty which is established under the Bank [...]]]></description>
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		<title>What if You Missed the OVDI Deadline?</title>
		<link>http://www.patellawoffices.com/blog/protecting-your-assets/what-if-you-missed-the-ovdi-deadline/</link>
		<comments>http://www.patellawoffices.com/blog/protecting-your-assets/what-if-you-missed-the-ovdi-deadline/#comments</comments>
		<pubDate>Sat, 08 Oct 2011 01:47:09 +0000</pubDate>
		<dc:creator>Parag Patel, Attorney</dc:creator>
				<category><![CDATA[Asset Protection Against Risks]]></category>
		<category><![CDATA[Defending and Planning Against Taxes]]></category>
		<category><![CDATA[amnesty]]></category>
		<category><![CDATA[Asset Protection]]></category>
		<category><![CDATA[FBAR]]></category>
		<category><![CDATA[foreign account]]></category>
		<category><![CDATA[hsbc]]></category>
		<category><![CDATA[ovdi]]></category>
		<category><![CDATA[penalties and interest]]></category>
		<category><![CDATA[tax crime]]></category>
		<category><![CDATA[voluntary disclosure]]></category>

		<guid isPermaLink="false">http://www.patellawoffices.com/blog/?p=569</guid>
		<description><![CDATA[Although the OVDI program has expired, a U.S. taxpayer can still make a voluntary disclosure of foreign accounts pursuant to the IRS’s general voluntary disclosure policy. For over 50 years, the IRS has maintained a voluntary disclosure policy, under which taxpayers can disclose, and rectify, any form of tax noncompliance. To make a voluntary disclosure, [...]]]></description>
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