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January 2012

Jim Walsh Named a Fellow of the Bar Foundation for Howard County
Howard County, Walsh & Company News    January 30, 2012

Jim Walsh was recently nominated and approved as a fellow of the Bar Foundation for Howard County, Maryland, Inc. The Bar Foundation is a non-profit charitable corporation founded in 2001 that works to improve the public’s knowledge of the law and to improve the administration of justice in Howard County.

FACTA: More IRS Disclosure Requirements for Foreign Accounts
Jonathan E. Greenstein, Tax    January 13, 2012

In recent years, ownership of foreign investments and financial accounts has become of increasing concern to U.S. taxpayers.  For a long time, bank secrecy laws in certain countries turned “offshore” financial institutions into tax havens, enabling U.S. taxpayers to avoid reporting foreign-based income or paying tax on that income.  As the result of far-reaching investigations […]

Jim Walsh Re-Appointed to Board of Appeals

Jim Walsh was recently re-appointed by the Howard County Council to serve a second five-year term on the Howard County Board of Appeals.  The Board of Appeals is a five member citizen panel that hears appeals from decisions of various Howard County government agencies (primarily planning and zoning).   Jim served as chair of the Board […]

IRS Announces Third Offshore Disclosure Program
Jonathan E. Greenstein, Tax    January 11, 2012

Citing a strong response to two previous disclosure programs, the IRS has just announced a third offshore voluntary disclosure program (OVDP). These disclosure programs are designed to seek taxpayers who are “hiding” offshore accounts that produce unreported taxable income, and bring them back within the U.S. tax system. The lure is the offer to achieve […]