Washington (Feb. 6, 2003) -- The Internal Revenue Service is making an offer to those involved in offshore payment card and offshore financial arrangement schemes: come clean now and you can avoid criminal prosecution. But this is your last chance.

"Tax Schemes and Scams-Save your Client the Trouble" is the title for this month’s Tax Talk Today Webcast, with the panel discussion focusing on the recently launched Offshore Voluntary Compliance Initiative. The Webcast, co-sponsored by the IRS, will air live from 2-3 p.m. EST on Tuesday, Feb. 11, 2003. The program will be of particular interest to practitioners involved in tax planning and tax controversy for high-income individuals and small businesses.

Steven Burgess, compliance area director of the Small Business/Self-Employed Division, IRS; and Nancy Jardini, deputy chief, Criminal Investigation Division, IRS will discuss this new initiative, which offers taxpayers a "last chance" to return to compliance with U.S. tax law. Joining them for this discussion will be Robert Panoff, P.A., a tax lawyer who limits his practice to litigation and white-collar defense matters, including structuring, money laundering and forfeitures.

"This Tax Talk Today® Webcast will provide valuable information for professionals with clients who used offshore financial arrangements to hide their income and want to get back into compliance," said Les Witmer, the program’s moderator. "The voluntary compliance initiative offers a way they can get their clients back into the system-and avoid criminal prosecution."

-- Electronic Accountant Newswire staff

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