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Category: Offshore Account Update - Page 29

The Automatic Exchange of Bank Data: Deal Expected Between the Swiss and U.S.

Offshore Account Update

Posted on January 20, 2017

The United States government has been aggressively pursuing undeclared revenue by cracking down on offshore bank accounts. There are numerous tools that the U.S. government has been using to find out details on accounts kept offshore that have not been properly declared, including a program by which Swiss banks were offered amnesty from crimes related to facilitating tax evasion if they came forward, reported accountholders and provided details about transactions.

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Tax Crimes and the Penalties That Result From Them

Articles/News, Offshore Account Update

Posted on December 30, 2016

Authorities throughout the United States have been aggressively pursuing individuals suspected of tax evasion, along with the institutions that helped them. Among recent criminal cases include convictions against individuals who helped clients to file fraudulent tax returns; convictions against individuals who ran a fraud ring and collected refunds inappropriately using information from deceased individuals; and a conviction against a man who embezzled $3 million from clients and failed to report the income to the IRS.

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Bitcoin Customer Info Sought Via John Doe Summons

Hot Topics, Offshore Account Update

Posted on December 16, 2016

The IRS has been aggressive in trying to identify hidden funds and collect back taxes. In response to intense offshore investigations which adversely impacted accountholder privacy, many individuals began trading in virtual currencies instead of investing funds offshore.  Now, however, the IRS is aggressively investigating currency trading platforms and is pursuing legal means to obtain information on accountholders.

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Swiss Court Rules on Privacy Issues Related to Tax Evasion

Offshore Account Update

Posted on October 31, 2016

Boston international tax lawyers provide assistance to individuals who have undeclared offshore funds or who are concerned that U.S. taxing authorities are going to obtain information about their offshore investments.  If you want assistance with protecting your financial situation and avoiding or minimizing losses due to tax penalties, you should get legal advice as soon as possible.

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Offshore Accountholders Take Note: More Tax Havens Are Being Uncovered

Offshore Account Update

Posted on October 21, 2016

For those with offshore funds, privacy was often one of the leading reasons for investing in foreign countries. Unfortunately, the long traditions of banking privacy in many offshore financial meccas is quickly coming to an end.  Because of the Swiss Bank Program, many banks from Switzerland are making deals with U.S. authorities for banks to avoid criminal prosecution by providing account holder info to the U.S. government. An increasing number of countries are also entering into agreements to exchange information about offshore accounts in order to try to stop tax evasion.

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