IRS Plans Webcast On Offshore Voluntary Compliance Initiative

by Mike Godfrey, Tax-News.com, Washington

10 February 2003

It emerged on Friday that the Internal Revenue Service is planning a webcast this week designed to assist tax advisors and legal professionals in bringing their clients into compliance with the US tax code.

The 'Tax Talk Today: Tax Schemes and Scams - Save Your Client the Trouble' online broadcast follows the recent announcement that the IRS is prepared to allow those who have used undeclared offshore credit cards and bank accounts to evade taxes to escape criminal charges, if they come forward before April 15.

According to Yahoo News, Steven Burgess, compliance area director of the Small Business/Self-Employed Division of the IRS, and Nancy Jardini, deputy chief of the tax agency's Criminal Investigation Division will be among the panelists discussing the newly launched Offshore Voluntary Compliance Initiative for the benefit of US tax lawyers on February 11.

Speaking last week, moderator of the discussion and 23-year veteran of the IRS, Les Witmer explained that:

'This Tax Talk Today webcast will provide valuable information for professionals with clients who used offshore financial arrangements to hide their income and want to get back into compliance. The voluntary compliance initiative offers a way they can get their clients back into the system - and avoid criminal prosecution.'

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