Janaury 29, 2015 - Swiss private banks fight to survive
The sudden appreciation of the Swiss franc has intensified pressure on Switzerland’s private banks, raising the prospect of job cuts and bankruptcies.
January 29, 2015 - Hiding Money or Income Offshore Among the “Dirty Dozen” List of Tax Scams for the 2015 Filing Season
"The recent string of successful enforcement actions against offshore tax cheats and the financial organizations that help them shows that it’s a bad bet to hid
January 29, 2015 - The era of offshore bank secrecy is dead
Almost every day brings new evidence that the era of bank secrecy for tax evaders using Swiss and “offshore” bank accounts in “tax havens” is over. Both tax aut
January 19, 2015 - WikiLeaks Banker Convicted of Breaching Swiss Financial Secrecy
Rudolf Elmer, a former employee of Julius Baer Group Ltd. (BAER), was given a suspended fine of 16,800 Swiss francs ($19,397) under a system that allows Swiss c
Janauary 13, 2015 - Swiss Banker to Appear in U.S. Court on Tax Charge
A Swiss banker who was denied assurances he requested about his bail conditions will take the unusual step of appearing in a U.S. court to face a charge of aidi
January 7, 2015 - HSBC and Hong Kong Targeted By IRS Looking For American Tax Evaders
U.S. Internal Revenue Service officials are stepping up an international tax evasion investigation into HSBC Holdings and the city of Hong Kong in an effort to
December 30, 2014 - IRS Hikes Offshore Account Penalty To 50% For Bank Leumi, Sovereign, 10 Others
The IRS updated (12/23/14) its list of so-called bad foreign banks where offshore accounts trigger a 50% (rather than 27.5%) penalty in the Offshore Voluntary D
December 23, 2014 - Israel's Bank Leumi Settles U.S. Tax Charges For $400M, Gives Depositor Names
The bank must hand over the names of more than 1,500 U.S. account holders and must help the U.S. in other investigations.
December 22, 2014 - IRS Issues John Doe Summons To FedEx, DHL, UPS, HSBC In Massive Offshore Account Hunt
A federal judge approved the IRS issuing summonses requiring FedEx, DHL, UPS, and a bevy of other handlers to produce information about U.S. taxpayers who used
December 8, 2014 - Israel tax evasion probe at UBS leads to 28 arrests
"During the investigation it was revealed ... that at UBS in Switzerland thousands of accounts held by Israelis are being managed, and it is suspected that the
November 28, 2014 - Argentina Accuses HSBC of Aiding People in Tax Evasion
Argentina’s tax agency accused the HSBC bank on Thursday of helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts.
November 24, 2014 - Credit Suisse Sentenced for Conspiracy to Help U.S. Taxpayers Hide Offshore Accounts from Internal Revenu
At sentencing in the U.S. District Court for the Eastern District of Virginia, U.S. District Chief Judge Rebecca Beach Smith entered judgment and conviction and
November 24, 2014 - Russia Cracks Down On Offshore Tax Havens
There is nothing new about offshore tax shelters. In ancient Athens, after the government decided to levy a 2% tax on all trade operations, merchants started av
November 17, 2014 - Another Swiss Banker Indicted For U.S. Tax Crimes
The alleged techniques included accounts in the names of sham foundations in Liechtenstein. When that became too hot, the feds say sham foundations in Panama we
November 17, 2014 - Swiss banker indicted for helping clients hide money
After the US authorities began cracking down on tax avoidance, in 2009 Dunki and co-conspirators took the money from clients' accounts and used it to buy gold a