The IRS has provided info to clarify the tax
responsibilities of U. S. citizens and dual citizens living
abroad in response to concerns from expatriates about
penalties that might be levied on their unpaid taxes and
undeclared bank accounts. ...
The IRS ease some fears about settlement offer for
Among other things, the IRS Explained that Voluntary
Classification Settlement Program participation won't
trigger a federal audit and that IRS won't share information
about participants with the Department of Labor (DOL) or
state agencies. ...
IRS Allows Tax Break for Bonuses
The Internal Revenue Service has issued a new *2011 revenue
ruling* permitting an employer that is using an accrual
method of accounting to take a deduction in the current year
for a fixed amount of bonuses payable to a group of
employees, even though the employer does not know which of
the employees will receive a bonus or the amount of any
particular bonus until after the end of the taxable year. ...