...result of this probe. Taxpayers are ineligible to participate in the IRS’s offshore voluntary disclosure program (OVDP) for undeclared offshore accounts if U.S. authorities already have their names. The program...
...advantage of tax treaty benefits, the taxpayer must also file IRS Form 8833 (Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b)). The below steps should be followed: Check the...
The Republican Party is expected to approve a resolution calling for repeal of an Obama administration law that is designed to crack down on offshore tax dodging. In what would...
...and capital payments, according to the IRS. In IRS Notice 2013-43 “Revised Timeline and Other Guidance Regarding the Implementation of FATCA”, the IRS indicates that withholding agents generally will be...
...signed an intergovernmental agreement (“IGA”) with the US regarding the US Foreign Account Tax Compliance Act (“FATCA”). FATCA requires U.S. financial institutions to impose a 30 percent withholding tax on...
...can receive amnesty from criminal prosecution for their previously unreported offshore bank accounts in exchange for filing amended tax returns and FBARs, and paying all back taxes, interest, and penalties....
A host of Swiss banks have signaled their readiness to work with U.S. officials in a crackdown on wealthy Americans evading taxes. Many more are expected to follow in the...
...helping wealthy Americans evade taxes through hidden offshore accounts. Unlisted Geneva-based Lombard Odier with in client assets is the biggest privately-held firm so far to say publicly it will take...
Last week, the U.S. signed six more intergovernmental agreements with a half dozen jurisdictions, including several traditional offshore tax havens, to implement the Foreign Account Tax Compliance Act, or FATCA....
...Offices is a law firm dedicated to helping clients resolve complicated tax, criminal tax, and international tax problems. Our firm assists (and defends) clients and their advisors to legally disclose...
...result of an intense campaign by U.S. officials against offshore tax evasion that took shape after Swiss banking giant UBS admitted in 2009 that it helped U.S. taxpayers hide money...
...partner at a Swiss law firm, pleaded guilty to conspiring with U.S. taxpayer-clients and others to help U.S. taxpayers hide millions of dollars from the IRS in offshore accounts and...
