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TIGTA calls on IRS to enhance OVDP noncompliance

Over the last few years, the Internal Revenue Service has granted noncompliant taxpayers with foreign bank accounts multiple reporting options via its Offshore Voluntary Disclosure Program. Specifically, these options enabled taxpayers to escape significant fines and other associated penalties by coming forward of their own free will and declaring these foreign assets.

IRS: Companies can no longer deduct FINRA fines, penalties

Over the last few years, it's been all but impossible to pick up the business section of the paper without encountering some story about a major corporate entity either under investigation or reaching a settlement with the federal government over purported malfeasance.