Caplin & Drysdale's Dianne C. Mehany and Zhanna A. Ziering were profiled in an article by CNS Business regarding a free seminar they hosted for U.S. citizens and green card holders residing in the Cayman Islands. Ms. Mehany and Ms. Ziering discussed the legal aspects of U.S. tax filing and reporting requirements under the Foreign Account Tax Compliance Act, the Offshore Voluntary Disclosure Program, and the Streamlined Filing Compliance Program. For the complete article, please visit CNS Business' website.
Excerpt taken from the article.
"Cayman signed an intergovernmental agreement, IGA, with the United States agreeing to cooperate with FATCA and that information sharing will begin this year and the information will be received by the US and people should take action now to come into compliance," said Caplin & Drysdale attorney, Dianne Mehany.
"It's becoming harder and harder to hide and you really want to be ahead of the situation. You don't want the IRS knocking on your door. There are options for you to come forward and come into compliance now before they come to you because once they come to you, it's a very different conversation," added Caplin & Drysdale attorney, Zhanna Ziering.