WASHINGTON: The U.S. Treasury Department has rejected the request of the Indian-American community to extend the deadline for the declaration of offshore accounts as of August 31 to December 31 and the reduction of penalties for non-disclosure.
"At this point, we do not contemplate the granting of an extension of time through-the-board for all taxpayers," the department said in response to a letter to the U.S. The Treasury secretary, Timothy Geithner, the Organization of People of Indian Origin (Gopi) in June.
GOPI Reject request for sentence reduction, said the 2011 Initiative offshore voluntary disclosure (OVDI) "provides a way for taxpayers with undeclared assets offshore to resolve their tax problems."
Referring to the allegation that the Gopi OVDI have not been published in ethnic newspapers and other media of the community in several languages, the Department said it had promoted OVDI knowledge through the publication of information in eight languages OVDI such as Hindi, IRS.GOV.
"We have also published information through traditional media, both national and local and social media sites like Twitter. We will continue this outreach effort wide as the August 31, 2011, deadline nears" said.
The indigenous community groups, however, have decided to continue their efforts to reconsideration by the Treasury and the relief requested in a July 19 letter submitted to President Barack Obama said gopi.
Four organizations leading the movement Gopi, National Federation of Indian Americans (NFIA), American Association of Physicians of Indian Origin (AAPI) and Asian American Hotel Owners Association (AAHOA).
"At this point, we do not contemplate the granting of an extension of time through-the-board for all taxpayers," the department said in response to a letter to the U.S. The Treasury secretary, Timothy Geithner, the Organization of People of Indian Origin (Gopi) in June.
GOPI Reject request for sentence reduction, said the 2011 Initiative offshore voluntary disclosure (OVDI) "provides a way for taxpayers with undeclared assets offshore to resolve their tax problems."
Referring to the allegation that the Gopi OVDI have not been published in ethnic newspapers and other media of the community in several languages, the Department said it had promoted OVDI knowledge through the publication of information in eight languages OVDI such as Hindi, IRS.GOV.
"We have also published information through traditional media, both national and local and social media sites like Twitter. We will continue this outreach effort wide as the August 31, 2011, deadline nears" said.
The indigenous community groups, however, have decided to continue their efforts to reconsideration by the Treasury and the relief requested in a July 19 letter submitted to President Barack Obama said gopi.
Four organizations leading the movement Gopi, National Federation of Indian Americans (NFIA), American Association of Physicians of Indian Origin (AAPI) and Asian American Hotel Owners Association (AAHOA).
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