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 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)
June 2, 2014 - Credit Suisse (NYSE: CS) Shows Way to Other Swiss Banks Under US Tax Scanner
Zuercher Kantonalbank, Julius Baer Group Ltd. and the Swiss branch of HSBC Holdings Plc (NYSE: HSBC) are included among the banks, which seek to avoid a guilty plea for assisting US citizens so that they can swindle the Internal Revenue Service.
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.
January 15, 2014 - H. Ty Warner Sentenced to Probation After Paying $80 Million in Taxes and Penalties for Tax Evasion on Funds Hidden in Secret Swiss Bank Accounts
Instead of opening the ZKB account in his own name, Warner opened the account in the name of a purported Liechtenstein entity, the “Molani Foundation,” which effectively concealed his identity as the account holder.
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 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.
December 6, 2013 - -Swiss banks prepare to bow to U.S. demands, grudgingly
“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 13, 2013 - Feds expand hunt for offshore tax evaders
The five include Bank of New York Mellon, Citibank, JPMorgan Chase Bank, HSBC Bank and Bank of America.
November 13, 2013 - Bank Records Sought in Offshore Tax Inquiry
Judge Richard M. Berman of the United States District Court in Manhattan told the banks — Citigroup, Bank of New York Mellon, JPMorgan Chase, HSBC and Bank of America — to produce details about American clients who may be evading taxes through the Bank of N.T. Butterfield & Son.