December 9, 2013 - Switzerland Urges Banks to Meet U.S. Disclosure Deadline
“The government is convinced the U.S. program allows the banks to settle the past,” she said today in Parliament in the Swiss capital Bern.
December 6, 2013 - Swiss banks prepare to bow to U.S. demands, grudgingly A
“It’s really an elaborate game theory going on right now,” said one U.S. lawyer working for Swiss banks.
December 2, 2013 - Swiss Authorize Group of Banks to Cooperate With U.S.
“The Federal Council gave various banks authorization to cooperate,” the government in Bern said in a statement on its website today, without disclosing the number or names of lenders. Banks were “encouraged” to give “serious consideration to their participation in the program and to make their decisions in this regard in a timely manner,” it said.
November 21, 2013 - How Germany's taxman used stolen data to squeeze Switze
German states would go ahead with deals, buying at least five sets of data since 2008 according to media announcements they made; the data was stolen from banks including UBS, Julius Baer and HSBC. The banks declined further comment or said they had resolved the issues.
November 13, 2013 - Court Authorizes IRS to Issue Summonses for Records.
entered an order today authorizing the IRS to issue summonses requiring Mellon, Citibank, JPMorgan Chase Bank NA (JPMorgan), HSBC Bank USA NA (HSBC), and Bank of America NA (Bank of America) to produce similar information in connection with undisclosed accounts at The Bank of N.T. Butterfield & Son Limited and its affiliates (collectively, Butterfield) in the Bahamas, Barbados, Cayman Islands, Guernsey, Hong Kong, Malta, Switzerland, and the United Kingdom.
November 13, 2013 - IRS Issues John Doe Summonses To Citibank, Chase, BoA,
the court went further, allowing the IRS to issue John Doe Summonses to Mellon, Citibank, JPMorgan Chase, HSBC and Bank of America to produce data on undisclosed accounts at Bank of N.T. Butterfield & Son Limited in the Bahamas, Barbados, Cayman Islands, Guernsey, Hong Kong, Malta, Switzerland, and the United Kingdom
November 1, 2013 - Offshore Tax Scorecard: UBS, Credit Suisse, HSBC, Julius
Below is a summary of U.S. federal court cases:
October 21, 2013 - Swiss Bank Blames DoJ Tax Investigation For Shutdown
Frey & Co.'s Executive Board, together with shareholders, came to the decision last week. Frey & Co. is currently the subject of a DoJ investigation, meaning that it is unable to take advantage of a settlement deal offered by the DoJ to Swiss "Category 1" banks.
October 18, 2013 - Swiss Bank Frey To Close Over IRS Investigation
Bank Frey’s “Truly Swiss, Truly Private” slogan could soon be “Truly Closed.” The bank is one of 14 under investigation for allegedly helping Americans evade taxes.
October 18, 2013 - Belgian police raid HSBC clients’ homes amid tax probe
Belgian police raid HSBC clients’ homes amid tax probe
October 8, 2013 - Shutdown slows US bilateral talks to fight offshore tax
The federal government shutdown has interrupted US efforts to negotiate agreements with other countries on implementing an anti-tax evasion law that is to take effect next year, tax lawyers said on Friday.
October 3, 2013 - Beanie Baby Creator Pleads Guilty to Swiss Bank Tax Dodge
“I am pleading guilty because I am guilty,” Warner, 69, told the judge, leaning close to a lectern microphone as his voice choked with emotion.
September 30, 2013 - U.S., Panama in talks on tax evasion pact -Treasury
The United States and Panama are in talks on a tax evasion agreement, the U.S. Treasury Department said on Friday, a sign of U.S. progress in implementing a crackdown on U.S. tax cheats.
September 26, 2013 The DOJ Ratchets Up Its Crackdown On Swiss Bank Account
Recent developments in the government’s war on offshore accounts suggest that taxpayers bent on avoiding detection of their assets will need to find a new vehicle soon.
September 24, 2013 - FATCA's Bleak Choices For Accounts, Income, Disclosure
Is any offshore income, account or trust still secret? The only safe assumption is no.