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  Grand Rapids Business Journal

 

Taxpayers with offshore activities must be careful

 

Earlier this month, many of us filed our tax returns and put another year behind us. Something that may have gone unnoticed in the rush to meet the deadline is that the U.S. government has stepped up its enforcement and administration of certain international reporting requirements of individuals and businesses with an offshore or international connection. This trend is evidenced by the April 15 press releases reiterating a focused effort to enforce the law and regulations with regard to offshore accounts owned or used by taxpayers.

 

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