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orangearrows
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Hiding money offshore ? Last Chance

submitted on March 25, 2011 by orangearrows in "Member's Lounge"
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The IRS has announced a special voluntary disclosure initiative to return offshore money back into the U.S. tax system and help taxpayers with offshore accounts get compliant. The new initiative is called the 2011 Offshore Voluntary Disclosure Initiative (OVDI) and is similar to the 2009 Offshore Voluntary Disclosure Program (OVDP), the last such amnesty program for taxpayers with international accounts.


Read more here > http://www.walletpop.com/2011/.....oney-offs/
        

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  • 108828
    CouponNut
    deity
    23 14 8
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    Posted by CouponNut on March 25, 2011
    [reply] 2 0
    Personally I think people with out of U.S. tax system dollars own real property & foreign business corporations in other countries all over the world which allows them to continually transfer U.S. funds abroad.
  • 108830
    YanBz
    admin
    Posted by YanBz on March 26, 2011
    [reply] 3 0
    Our corporate tax law is totally screwed up: GE claimed $14.2 bln profits in 2010 but paid $0 taxes. In fact they even claimed a tax return of $3.2 bln! Evil

    Considering all rich guys have their assets in corporations this mean anyone with the money can exploit the laws to the extend that they can avoid taxes altogether

    http://www.nytimes.com/2011/03.....25tax.html
      108835
    • josetring
      master
      Posted by josetring on March 26, 2011
      [reply] 2 0
      Paid zero taxes?, thats screwed up. sucks!!

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