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Government Contracts: Alert - November 12, 2009

On November 30, 2009, the Supreme Court will hear oral argument in Graham County Soil & Water Conservation District v. United States ex rel. Wilson, a qui tam action brought under the False Claims Act (FCA) and appealed from a Fourth Circuit decision. The Court will use the case to resolve a split among the circuits over the scope of the FCA's "public disclosure" bar. A decision affirming the Fourth Circuit could increase qui tam litigation against any organization that does business with, or receives federal money through, federal, state and local governmental entities – and would further expand the reach of the FCA to any state or local program involving the use of federal funds.

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Holland & Knight Forms National Health Care Reform Task Force

As Congress debates the specifics of national health care reform, Holland & Knight has established a Health Care Reform Task Force to help clients around the country address the reform issues and changing federal policy.

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Articles & White Papers

Avoid Criminal Prosecution – IRS Introduces a Six Month Settlement Initiative For those with Unreported Foreign Accounts
 

LISI Estate Planning Newsletter # 1438

April 1, 2009
 
Kevin E. Packman- Miami

On March 23, 2009, the IRS launched the IRS Offshore Incoming Reporting Initiative (the "Initiative"), a settlement for taxpayers to voluntarily disclose of undeclared offshore accounts. The Initiative ends on September 26, 2009, allowing six months for taxpayers to step forward. Those qualified will not be subjected to criminal or civil fraud penalties, but will have to file six years of tax returns and pay all retroactive taxes and interests accumulated.

Packman urges that taxpayers take advantage of the "Initiative" to come forward with any unreported or unfiled foreign accounts. Despite the seemingly harsh penalties, he argues that it is far better than criminal prosecution. Finally, he suggests that if taxpayers do follow through with their disclosure, they should seek legal representation with particular knowledge in this matter. Please click on the below link to view this article.

READ: Avoid Criminal Prosecution – IRS Introduces a Six Month Settlement Initiative For those with Unreported Foreign Accounts

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