Sean McMahon, Eric Rietveld and Elissa Sneider Named to Massachusetts Super Lawyers List

D. Sean McMahon Super Lawyers
D. Sean McMahon, Eric Rietveld and Elissa Burton, from the Boston-based tax law firm McMahon & Associates, have been named to the 2017 Massachusetts Super Lawyers and Rising Star lists. Sean McMahon - Massachusetts Super Lawyers List in Tax Sean McMahon has been named to the 2017 Massachusetts Super Lawyers list in the tax area. He has been named to the list since 2013. Sean McMahon specializes in IRS tax disputes, audits, and appeals. He is a former Senior Attorney with the Internal Re...
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New IRS Compliance Campaigns for large businesses and International taxpayers

Boston Tax Attorney IRS Audit
The Internal Revenue Service (IRS) Large Business and International (LB&I) division announced a new series of campaigns targeting fraud and tax evasion by businesses with assets over $10 million and wealthy individuals with international tax compliance obligations. The new strategy moves towards issue-based examinations and a compliance campaign process in which LB&I decides which compliance issues present significant risk to require a response. LB&I identified the 13 campaigns th...
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Justice Department Reaches Final Resolutions Under Swiss Bank Program

Tax investigation
In a press release, the Department of Justice announced that “it has reached final resolutions with banks that have met the requirements of the Swiss Bank Program.  The Program provided a path for Swiss banks to resolve potential criminal liabilities in the United States, and to cooperate in the Department’s ongoing investigations of the use of foreign bank accounts to commit tax evasion.  The Program also provided a path for those Swiss banks that were not engaged in wrongful acts but nonethele...
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33rd Annual National Institute on Criminal Tax Fraud and the Sixth Annual National Institute on Tax Controversy

Bill Lovett and Sean McMahon will be attending the 33rd Annual National Institute on Criminal Tax Fraud and the Sixth Annual National Institute on Tax Controversy. We hope to see you there! Date: December 7-9, 2016 Location: Las Vegas, NV Register Here This program brings together high-level government representatives, judges, corporate counsel, and private practitioners engaged in all aspects of tax controversy, tax litigation, and criminal tax defense. Curriculum topics include:...
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Offshore Voluntary Disclosure and FATCA Stats

Boston Tax Attorney Blog FATCA
The Internal Revenue Service (IRS) has been actively targeting U.S. taxpayers with undisclosed foreign bank accounts for several years. It has promoted the Offshore Voluntary Disclosure Program (OVDP) and the streamlined version of the program to encourage U.S. taxpayers with previously undisclosed foreign bank accounts to come into compliance and pay back taxes while avoiding heavy fines and criminal prosecution. The U.S. government also has been cracking down on foreign financial institutio...
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IRS Urges Taxpayers with International Tax Issues to Come Into Compliance

Offshore Voluntary Disclosure Program OVDP
The Internal Revenue Service's (IRS) offshore voluntary compliance announcement stated that more than 100,000 taxpayers have come into compliance on their international tax obligations since 2009. The IRS has also collected more than $10 billion in tax, interest and penalties since 2009. IRS Commissioner John Koskinen said, “As we continue to receive more information on foreign accounts, people’s ability to avoid detection becomes harder and harder. The IRS continues to urge those people wit...
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30,000 Taxpayers Who Submitted Voluntary Disclosures May Be Subject to Criminal Prosecution

Tax Evasion Boston Tax Attorney
Streamlined Offshore Voluntary Disclosure At Risk 30,000 US taxpayers have submitted streamlined offshore voluntary disclosures since 2012. Now the IRS and Justice Department are “taking all of that data and scrubbing it for leads,” Nanette Davis, a trial attorney in the Justice Department’s tax division, said at the New York University Tax Controversy Forum. As part of the U.S. Government’s efforts to collect unpaid taxes from U.S. taxpayers with undisclosed foreign bank accounts, the IRS o...
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IRS Offshore Voluntary Disclosure Program – McMahon & Associates PC

IRS Offshore Voluntary Disclosure Program Boston Tax Attorney Video
The IRS currently has two categories of the Offshore Voluntary Disclosure Program (OVDP): the regular OVDP program, which will accept any taxpayer not already under investigation, and the easier and less expansive streamlined OVDP program, which is simpler and quicker. The penalties and qualifying requirements vary greatly between the programs and it is imperative that you select the right one as you only get one shot at applying. Failure to select the right program would result in crimin...
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Introducing McMahon & Associates IRS Tax Attorneys – Video Series

McMahon & Associates IRS Tax Attorneys
  When you need heart surgery, you want a heart surgeon, not your primary care physician. When the IRS comes knocking at your door, you want experienced tax counsel. McMahon & Associates exclusively handles IRS tax disputes. It the IRS is coming after you for an audit, an undeclared foreign bank account or trying to seize your property, you need a tax specialist who knows the IRS inside and out. Visit McMahon & Associates for more information. Watch more videos: ...
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I Just Received a Letter from my Bank about FATCA and my Connection to the U.S.

FATCA Bank Letter
International Banks Requesting U.S. Tax Documentation Banks and financial institutions around the world are mailing letters to account holders requesting U.S.  tax documentation. If you have received a letter similar to this one from your foreign bank, it is because the bank is complying with the Foreign Account Tax Compliance Act or FATCA. FATCA FATCA was enacted by Congress in 2010 as a way to target U.S. taxpayers using offshore bank accounts to avoid paying taxes. FATCA requires foreign f...
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