August 24, 2012 - Prominent Indian-American neurosurgeon convicted of tax f
Ahuja transferred millions of dollars from bank accounts in the US to undeclared accounts located in India at HSBC bank.
August 24, 2012 - Wisconsin Neurosurgeon Convicted of Filing False Tax Retu
Ahuja transferred millions of dollars from bank accounts in the United States to undeclared bank accounts located in India at HSBC bank.
July 31, 2012 - California UBS Clients Sentenced to Prison for Hiding Assse
they failed to report that they had an interest in or a signature authority over a secret Swiss financial account at UBS, which was subsequently transferred to the Swiss branch of a Liechtenstein bank. They also failed to report several other foreign accounts in the Isle of Man, Hong Kong, New Zealand and South Africa.
June 18, 2012 - Details on the FATCA Registration Process for Foreign Finan
In building an online system for foreign financial institutions (FFIs) to register as participating FFIs, the IRS has developed a flexible system that has the ability for the FFI to create accounts, chose login and passwords, create challenge questions and maintain the account once formed.
May 31, 2012 - South Florida Retired Businessman Pleads Guilty to Failing t
a U.S. citizen, maintained bank accounts at UBS AG in Switzerland, which he failed to report on his 2002 through 2007 personal income tax returns.
May 24, 2012 - IRS Announces 43 Small Offices to Close
IRS Announces 43 Small Offices to Close, Others to be Consolidated; Agency Sheds More than One Million Square Feet of Office Space
May 7, 2012 - Businessman with Swiss Bank Account Pleads Guilty to Charge o
For those tax years, 2006 and 2007, the defendant was required to file a United States tax return, to report his worldwide income, and to declare the existence of any foreign based financial account at UBS AG in Switzerland, in which he had an interest and contained assets in excess of $10,000.
April 4, 2012 - Comparison of Form 8938 and FBAR Requirements
The new Form 8938 filing requirement does not replace or otherwise affect a taxpayer’s obligation to file Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts). Individuals must file each form for which they meet the relevant reporting threshold.
Feb 24, 2012 - TENNESSEE COUPLE PLEAD GUILTY TO TAX CRIMES
the Palmers maintained funds in an offshore bank account in the name of The Liahona LLC, an entity of which they were the sole members and managers. Due to the income they received during the prosecution years, the Palmers were required to file tax returns, however, they failed to do so.
Feb 20, 2012 - Treasury, IRS Issue Proposed Regulations for FATCA Implement
The regulations lay out a step-by-step process for U.S. account identification, information reporting, and withholding requirements for foreign financial institutions (FFIs), other foreign entities, and U.S. withholding agents
February 3, 2012 - Swiss Bank Indicted on U.S. Tax Charges
Wegelin & Co., a Swiss private bank, was indicted today for conspiring with U.S. taxpayers and others to hide more than $1.2 billion in secret accounts and the income these accounts generated from the Internal Revenue Service (IRS), the Justice Department announced today.
January 31, 2012 - UBS Clients and Tax Attorney Indicted in Phoenix for Hid
DOJ Press Release: UBS Clients and Tax Attorney Indicted in Phoenix for Hiding Assets in Secret Foreign Bank Accounts
January 18, 2012 - IRS Releases New Tax Gap Estimates
The Internal Revenue Service today released a new set of tax gap estimates for tax year 2006. The tax gap is defined as the amount of tax liability faced by taxpayers that is not paid on time.
January 9, 2012 - IRS Announces New Disclosure Program
IRS Announces New Disclosure Program. 27% percent penalty.....
Jan 4, 2012 - Official Indictment of Bankers who worked for Wegelin
Official Indictment of 3 Bankers who worked for Wegelin