r2i forum

By 'go after', i mean IRS keeps track of the accounts for future audits or violations. My attorney says traditional VD has the same auditing chnaces as that of OVDI. So thereis not much of any advantage with OVDI as far as audit is concerned. It is just a different program with different conditions ...

That is for subscribers and i cannot read. After i turned few pages, it requires me to subscribe. [QUOTE=zen;403411]India Abroad, the Rediff.com editorial has a detailed article on OVDI in their August 5 newspaper. You all can read it at [URL]http://www.indiaabroad-digital.com/indiaabroad/20110805 ...

Greyfri, So do you think a case has more chance for an audit because i go with traditional VD. I haven't filed FBARs, but accounts have > 75K but the earned income is very less which i didn't report. My attorney says, since i don't have any previous issues with IRS and since they have to actually ...

I talked to him if there is any advantage following OVDI for my case. He said there is none, so he doesn't think gold account will be excluded. Only advantage is 0% CI against less than 3% CI with traditional VD with reduced penalties. He is in favour of T-VD, as he doesn't see anything i did come ...

I talked to an experienced attorney and he studied my case and said it is good for me to file under traditional VD, rather than OVDI. So i am thinking on going along that route. He said he is waiting for IRS to start the traditional VD process very soon after OVDI is closed. He even said, it is ...

Thanks greyfri. I called one high professional attorney here and she says as long as the transactions can be done, goldmoney is very much reportable. So i am going to report it at the cost of very high penalty to keep me safe from future CI. The other financial account is a regular bank account and ...

Hello, I would appreciate if you can help with the following questions. I have 2 foreign accounts, one is a bullion account which doesn't earn any interest and i never sold any bullion to report any earnings. I didn't disclose this account nor filed FBAR on this. Another account is a foreign bank ...

Is it necessary to get a pre-clearance. One of the CPA's i talked, she told it is not necessary and we can file directly. The other attorney i talked, he said that it is taking a long time for clearance and i may not be able to get OVDI done now. I haven't yet started the process and i am talking to ...

greyfri, Thanks for the reply. Do you have a link of FinCEN about gold held with a foreigh institution is FBAR reportable? I will ry to search it myself. The goldmoney account can be linked to an offshore account as well. My account is linked to US bank account from where i can wire the amount ...

rayerall,
Can you PM me the names of the reputed lawyers you contacted or you can provide here. I am also searching for someone who can
answer my questions on account with bullion storage accounts.

If any one of you have any info on the FBAR on such accounts, please reply..Many thanks!