ACA has written to Treasury and IRS officials recommending a proposal for a Comprehensive Compliance Program (actually an interim streamlined program) to Enable Tax Compliance by Americans Resident Overseas. You can read the letter here. This is part of the ongoing attempt by ACA to get attention in Congress, and it follows their harsh criticism of FBAR and OVDP abuse.
The key to the ACA proposal is that Americans resident overseas entering CCP will know exactly the amount due to the IRS, including the tax due, interest and penalty, if any. They will not fear that their life savings are at risk. They will not be treated as criminals and will come into compliance.
I hope I haven’t missed this letter being published somewhere else on IBS, but in light of these recent posts on IBS I have been ‘skimming’ this morning before I head out on the Pacific Crest Trail, I thought I would post it for greater visibility and discussion.
Tax lawyer Virginia La Torre Jecker interviews former #IRS attorney Bill Yate
Taxpayer advocate continues criticism of IRS execution of voluntary disclosure programs
#IRS abuse of Americans Abroad – The greater the effort! The greater the punishment!
and the recent article in Tax Notes…
The Personal Impact of Offshore Enforcement
Below are the ACA Conclusions