April 30, 2013 - Court Authorizes Summons FirstCaribbean Int'l Bank
The IRS summons seeks records of FCIB’s United States correspondent account at Wells Fargo N.A., which will allow the IRS to identify U.S. taxpayers who hold or held interests in financial accounts at FCIB
April 29, 2013 - Report to Congressional Requesters
IRS Has Collected Billions of Dollars, but May be Missing Continued Evasion
April 29, 2013 - IRS Has Collected Billions of Dollars, but May be Missing
GAO recommends that IRS (1) use offshore data to identify and educate taxpayers who might not be aware of their reporting requirements; (2) explore options for employing a methodology to more effectively detect and pursue quiet disclosures and implement the best option; and (3) analyze first-time offshore account reporting trends to identify possible attempts to circumvent monies owed and take action to help ensure compliance. IRS agreed with all of GAO's recommendations.
April 16, 2013 - Arizona Businessmen and California Attorney Convicted for
“Clients, as well as promoters, of international tax fraud are under the watchful scrutiny of the IRS.” said Richard Weber, Chief, IRS-Criminal Investigation. “
April 11, 2013 - JUSTICE DEPARTMENT HIGHLIGHTS TAX DIVISION’S ENFORCEMENT R
The Tax Division continues to play a leading role in investigations and prosecutions involving the use of foreign tax havens.
March 27, 2013 - IRS Releases 2012 Data Book
This Annual Report explains the issues facing the IRS and how the IRS is resolving problems such as offshore compliance and identity theft.
March 18, 2013 - GAO Report on IRS Controls
The General Accounting Offices Reports of IRS Controls and Security Concerns
March 6, 2013 - Massachusetts Man Sentenced In Manhattan Federal Court For
Taxpayer held an account in his own name at Credit Suisse, a Swiss bank with its headquarters in Zurich, Switzerland. In June 2006, with the assistance of Singenberger, Taxpayer opened an undeclared account at Credit Suisse in the name of a sham corporation formed under the laws of Hong Kong, Ample Lion Ltd. (“Ample Lion”).
March 5, 2013 - Wegelin Sentenced to Pay $58 Million
Assistant Attorney General Keneally said: “When the IRS offered the opportunity to come into compliance through the Offshore Voluntary Disclosure Initiative, some people thought that they could beat the system... we are following that money, and time is rapidly running out for taxpayers who think that they can still hide.”
January 21, 2013 - New FATCA Regulations
Regulations Relating to Information Reporting by Foreign Financial Institutions
and Withholding on Certain Payments to Foreign Financial Institutions and Other
Foreign Entities
January 10, 2013 - Taxpayer Advocate Report on Voluntary Disclosure Program
The IRS’s Offshore Voluntary Disclosure Programs Discourage
Voluntary Compliance by Those Who Inadvertently Failed to
Report Foreign Accounts
January 4, 2013 - Swiss Bank Pleads Guilty Court To Conspiracy
U.S. Attorney Preet Bharara said: “There is no excuse for wealthy Americans flouting their responsibilities as citizens of this great country to pay their taxes, and there is no excuse for foreign financial institutions helping them to do so..."
November 5, 2012 - Kathryn Keneally Assistant Attorney General
Kathryn Keneally was sworn in as the Assistant Attorney General for the Tax Division on April 6, 2012
October 10, 2012 - Shulman to Finish His Term as IRS Commissioner on Nov. 9
Under the law, IRS commissioners are nominated by the President and confirmed by the Senate for a term of up to five years with their terms
September 6, 2012 - New Streamlined Filing Compliance Procedures for Non-Re
On June 26, 2012, the IRS announced new streamlined filing compliance procedures for non-resident U.S. taxpayers to go into effect on September 1, 2012.