May 3, 2011 - Advising Clients About the 2011 Offshore Amnesty Program
Advising clients about the 2011 OVDI and offshore enforcement update.
April 14, 2011 - NEW YORK WOMAN PLEADS GUILTY TO FILING A FALSE TAX RETURN;
Josephine Bhasin, a resident of Huntington, N.Y., pleaded guilty before U.S. Magistrate Judge E. Thomas Boyle in Central Islip, N.Y., to filing a false 2008 individual income tax return that did not report her ownership of a bank account in India at the Hongkong and Shanghai Banking Corporation Limited (HSBC India),
April 8, 2011 - Don’t Fall Prey to the 2011 Dirty Dozen Tax Scams
The IRS aggressively pursues taxpayers involved in abusive offshore transactions as well as the promoters, professionals and others who facilitate or enable these schemes. Taxpayers have tried to avoid or evade U.S. income tax by hiding income in offshore banks, brokerage accounts or through the use of nominee entities.
April 7, 2011 - U.S. Seeks HSBC Customers’ Names as Part of Tax Inquiry
The Justice Department asked a federal court on Thursday for permission to force HSBC, the London-based bank, to turn over the names of wealthy American clients suspected of evading taxes through offshore accounts at its affiliate in India.
April 6, 2011 - Prepared Remarks of IRS Commissioner Doug Shulman at the Na
Together we’ve accomplished much over these past three years… from improving service to taxpayers… to cracking down on offshore tax abuse… to launching our initiative to work with the tax return preparer industry to boost compliance and help taxpayers get it right from the start.
April 4, 2011 - Rich Are Targeted in IRS Audit Offensive .
The Internal Revenue Service is stepping up audits of wealthier taxpayers as part of a multiyear effort to crack down on tax avoidance.
March 30, 2011 - Taxpayers Abroad Can Choose IRS Free File; Don’t Forget to
Taxpayers abroad can now use IRS Free File to prepare and electronically file their returns for free, the Internal Revenue Service announced today.
March 23, 2011 - DOJ Offshore Compliance Initiative
The Tax Division’s top litigation priority is the concerted civil and criminal effort to combat the serious problem of non-compliance with our tax laws by U.S. taxpayers using secret offshore bank accounts
March 22, 2011 - Finma Urges UBS,Credit Suisse To Face Capital Rules Soon
"With the inflation genie at least straining to get out of the bottle, the danger of discontinuous changes in some of these markets is high. That is why our message to the large banks isn't just, please start to think about how you will meet the new capital standards by 2019, it is 'the faster, the better'," Finma banks division head Mark Branson said at a briefing.
March 21, 2011 - IRS Commissioner Doug Shulman to Talk Taxes at National Pr
Commissioner of Internal Revenue, Douglas H. Shulman, the 47th IRS commissioner, will speak at a National Press Club Speakers Luncheon on April 6. Mr. Shulman, who is responsible for collecting $2.4 trillion in tax revenues will give a speech titled: "On the Horizon: A Vision for the Future of Our Tax System."
March 17, 2011 -UBS CLIENT SENTENCED IN SAN DIEGO FOR HIDING ASSETS IN SECR
Jeffrey Chatfield of San Diego was sentenced before U.S. District Judge Michael M. Anello to three years probation for hiding assets in secret offshore UBS bank accounts, the Justice Department and the Internal Revenue Service (IRS) announced today. Chatfield was also ordered to pay more than $96,000 to resolve his civil liability with the IRS for failing to file the required Reports of Foreign Bank and Financial Reports (FBARs) on Forms TD F 90-22.1.
March 9, 2011 - Former Ohio Man Pleads Guilty to Failing to Report His Fore
Edward Gurary, formerly of Orange Village, Ohio, pleaded guilty today in federal court in the Northern District of Ohio to filing false personal income tax returns for the years 2004 through 2008, the Justice Department and Internal Revenue Service (IRS) announced.
March 6, 2011 - Former UBS Client Sentenced for Hiding Millions in Offshore
Arthur Joel Eisenberg of Seattle was sentenced today to three years probation by U.S. District Court Judge John Coughenour, the Justice Department and the Internal Revenue Service (IRS) announced today. Eisenberg pleaded guilty in December 2010 to willfully filing a false individual income tax return.
March 4, 2011 - Banks haven't gotten the tax fraud message: prosecutor
U.S. authorities will devote "considerable" resources to go after the banks, the bankers, "and most importantly the clients," Downing said.
February 23, 2011 - Four Swiss Bankers Charged with Helping U.S. Taxpayers
Marco Parenti Adami, Emanuel Agustino, Michele Bergantino and Roger Schaerer, bankers at an international bank incorporated and with its headquarters in Zurich, Switzerland, with offices worldwide, including New York City and Miami, were indicted by a federal grand jury in the Eastern District of Virginia and charged with conspiring with other Swiss bankers to defraud the United States, the Justice Department and the Internal Revenue Service (IRS) announced today.