C&H Blog

IRS issued a news release on February 8, 2011:  Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 Deadline.  Most taxpayers who have improperly reported their foreign bank accounts have done so unknowingly, and not as a result of trying to "hide assets." However, the IRS is still targeting those taxpayers, and they would be well advised to consult legal counsel to determine whether they have properly reported foreign bank and brokerage accounts, as well as foreign assets, and whether they would be candidates for the Second Voluntary Disclosure Initiative. Taxpayers should not delay, as all necessary returns must be filed by the program end date of August 31, 2011.  The tax controversy attorneys at Chicoine & Hallett are available to answer questions and provide additional information on the new program. 

In United States v. Baston, No. 09-50238 (June 21, 2010), the Ninth Circuit decided that district courts may order restitution as a condition of supervised release for tax crimes (offenses under Title 26 of the United States Code) under authority granted by the "Supervised Release Statute," 18 U.S.C. Sect. 3583(d).  The Circuit rejected the argument that district courts' restitution orders were limited to those falling under the Victim and Witness Protection Act or the Mandatory Victims Restitution Act (neither of which include restitution for tax crimes).  However, the amount of the resitution must be directly related to the offense of conviction, as long as the offense of conviction does not involve an element of a scheme or conspiracy. 

Chicoine & Hallett recently became aware that Ron Strawn, South Coast, and/or Columbia Financial has been marketing a tax transaction referred to as "Tahoe" or "Blackbriar" and representing that Chicoine & Hallett, P.S. was affiliated with the transaction.  Chicoine &Hallett had no involvement in the preparation of the communication regarding the Tahoe/Blackbriar FAQ.  Chicoine & Hallett does not and did not condone, authorize, or agree to the representations made in the communication or the use of its name in any way.  Chicoine & Hallett is not affiliated with Mr. Strawn, South Coast, or Columbia Financial as a business or tax advisor.