First Indictment for FATCA Violation Announced

Federal prosecutors charged six men Tuesday with running a complicated offshore scheme that allegedly enabled clients to manipulate stocks, avoid U.S. taxes and launder hundreds of millions of dollars.  An indictment unsealed in federal court in Brooklyn alleged the men

Watch Out for Letters From Your Foreign Bank Requesting Information On Your U.S. Residency

Numerous foreign banks are sending letters to their customers demanding personal information to ascertain whether the customer is a U.S. citizen or a U.S. resident. The foreign banks typically state they are required to obtain such personal information pursuant to the U.S. Foreign Account