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Am Law 100 firm with practices in Business, Digital Assets and Data Management, Intellectual Property, Labor & Employment, Litigation and Tax.

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Attorneys contribute representations and warranties chapter to healthcare contracts book

Civil price-fixing case may shed light on whether plaintiffs can win where the DOJ has lost

Four decades after AT&T was broken up, is Google headed down that dark road?

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Partner and Co-Chair of Baker Hostetler's nationwide tax controversy practice, <a href="http://www.bakerlaw.com/jamesnmastracchio/">Jim Mastracchio</a> commented on the IRS offshore voluntary disclosure program in national and international media outlets including Reuters, Telegraph India, MarketWatch, FoxNews, CNN and CBS. To encourage U.S. taxpayers living in the United States and abroad to file U.S. tax returns and Report of Foreign Bank and Financial Accounts (FBARs), the IRS has extended the deadline to September 9, 2011 to enroll in the 2011 Offshore Voluntary Disclosure Initiative (OVDI). "The extra time is a positive development for U.S. taxpayers living in the U.S. and abroad who want to come into compliance with U.S. filing obligations," said Mastracchio. "The OVDI program was due to expire [August 31], but the additional time provides several more days for last minute submissions. We have seen an increase in the number of U.S. taxpayers seeking advice about the OVDI, particularly taxpayers who have bank accounts in Asia." One reason may be that HSBC Bank recently notified its customers who hold accounts in India to seek advice from a U.S. tax advisor. The bank's notice states that the IRS served the bank with a summons seeking account information regarding its U.S. customers. "The additional time should help a number of taxpayers who recently received the bank notifications and want to participate in the program," added Mr. Mastracchio.

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International Tax

Mastracchio Comments on IRS Offshore Voluntary Disclosure Program in Reuters and Telegraph India

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