October 13, 2014 - Draft U.S. deal for Swiss banks in tax row seeks 'total cooperation': paper
The U.S. Department of Justice (DOJ) is seeking "total cooperation" from Swiss banks in a draft agreement aimed at allowing the banks to make amends for aiding tax evasion by wealthy Americans, a Swiss newspaper reported on Saturday.
October 13, 2014 - 100 Swiss Banks Get Ultimatum: Hand Over Americans Or Face U.S. Prosecution
The U.S. seeks ‘total cooperation’, and that truly means total. Any American names, details, and more. The Justice Department intends to get it all.
June 18, 2014 - IRS announces TOUGHER Voluntary Disclosure Program Effective July 1, 2014
If you have an undeclared account at Basler Kantonalbank, you should seriously consider filing a request to participate in the IRS offshore voluntary disclosure program before tougher rules and penalties take effect on July 1, 2014.
Call Teig for a consultation NOW at:
June 4, 2014 - IRS Announcing New Voluntary Disclosure Program for Americans Residing Overseas
On June 3, 2014, IRS Commissioner Koskinen announced that the IRS "will soon put forward modifications to the [Voluntary Disclosure & Streamlined] programs currently in place" for U.S. citizens residing overseas.
June 3, 2014 - RPT-Swiss banks risk bigger than expected fines in U.S tax case
"Credit Suisse's lack of effective cooperation was an important additional factor in determining the resolution of the case," U.S. Deputy Attorney General James Cole said on May 21 in a talk at the University of Texas School of Law. "Put simply, cooperation matters." ($1 = 0.8940 Swiss Francs) (Additional reporting by Rupert Pretterklieber and Oliver Hirt in Zurich; editing by Laura Noonan and Tom Pfeiffer)
May 28, 2014 - After Credit Suisse plea deal, top U.S. tax enforcer steps down
"As a result of her determined efforts ... the Tax Division has secured historic gains in our fight to protect the American people from tax fraud and financial misconduct," Attorney General Eric Holder said.
May 28, 2014 - Ex-UBS Banker Lack Avoids Prison for 17-Year Tax Scheme
That bank, not named in the indictment, is Basler Kantonalbank, according to a person familiar with the matter.
May 27, 2014 - Credit Suisse Offers Map to 13 Swiss Banks in U.S. Tax Probe
“We will look at the facts and circumstances of each investigation to determine an appropriate penalty,” Assistant U.S. Attorney General Kathryn Keneally said in an interview. “It should be very clear from the Credit Suisse investigation that cooperation, or the lack thereof, is an important factor.”
May 22, 2014 - Remaining ‘hit list’ banks sweat over US verdicts
“I believe that the cantonal banks will likely resolve their respective cases with non-prosecution agreements or deferred prosecution agreements, unless the actions of a given bank were exceptionally egregious.” Teig Lawrence
May 20, 2014 - Swiss Expect Julius Baer, Basler, ZKB to Strike U.S. Deals Soon
Julius Baer Group Ltd. (BAER), Basler Kantonalbank and Zuercher Kantonalbank are among so-called group 1 Swiss financial firms, investigated by the Department of Justice since 2011 for allegedly helping Americans hide money from the Internal Revenue Service, that are seeking to strike individual agreements to avoid or defer prosecution by the U.S.
February 20, 2014 - Basler Kantonalbank Says Profit Halved on U.S. Tax Provision
a Swiss regional state-controlled lender, said profit more than halved after a 109 million-franc ($122 million) provision in relation to a U.S. probe into tax evasion by Americans.
December 24, 2013 - TLPA Consulting On Swiss Bank Disclosure Program
Teig Lawrence is available to consult with Swiss Banks of all sizes with respect to satisfying the compliance requirements of this Swiss Bank Voluntary Disclosure Program.
December 23, 2013 - Basler Kantonalbank to take $112.74 million provision f
Credit Suisse, which took a 295 million franc provision two years ago, and Julius Baer, which has not set anything aside, declined to comment on Thursday.
December 19, 2013 - Basler Kantonalbank to take 100 mln Sfr provision for U
Basler Kantonalbank said it will take a 100 million Swiss franc ($112.74 million) provision against full-year earnings to cover legal costs and fines from a U.S. crackdown on tax evasion.
December 16, 2013 - Several Swiss cantonal banks to join U.S. tax deal
Banque Cantonale Vaudoise (BCV), Banque Cantonale de Geneve (BCGE), St. Galler Kantonalbank, Zuger Kantonalbank, Luzerner Kantonalbank and Graubuendner Kantonalbank said they were participating in the program.