ThornTaxLaw

U.S. Taxpayers with Undisclosed Offshore Accounts Beware: Swiss Government Authorizes Swiss Banks to Turn-Over Names of Professionals to U.S. Internal Revenue Service

2012-04-17 16:45:00

The release of such information will likely contribute to establishing cases against those U.S. taxpayers currently under investigation.

Hollis Man Placed on Probation for Tax Evasion through Swiss Bank UBS

2012-03-30 16:42:00

Lothar Hoess sentenced to three years of probation after pleading guilty to a single charge of failure to file a report of foreign bank account and financial accounts.

Swiss Banks to Provide U.S. with Client Information on Undisclosed Accounts

2011-10-27 17:20:00

European banks ready to pay billions to the United States, as well as disclose U.S. clients’ names to the Internal Revenue Service (IRS) and the Department of Justice (DOJ).

HSBC: One of the Eight Under Grand Jury Investigation?

2011-09-30 16:01:32

India-American charged for evading taxes through the HSBC India branch!

Credit Suisse in Serious Trouble: Account Holders Next as 1 Month for Amnesty Remains

2011-07-28 13:55:39

Time running out for Credit Suisse undisclosed account holders!

HSBC Severs Ties with Undisclosed Offshore U.S. Account Holders

2011-07-21 16:14:38

HSBC India has mandated that all ties with U.S. Clients and anyone associated with U.S. persons are to be severed!

DOJ Opens Criminal Investigation into Credit Suisse Undisclosed Foreign Accounts

2011-07-15 11:56:26

Credit Suisse receives formal letter from the U.S. Department of Justice for improper offshore banking practices.

HSBC Prepares to Turn Over U.S. Client Names to Comply with U.S. Government

2011-07-06 16:32:00

Time running out for HSBC clients with non-compliant accounts.

NY lawyer admits hiding $26.4 million in Offshore Bank Account

2011-06-27 23:17:20

Pleads guilty to criminal charges of tax evasion.

Two more pled guilty to filing false return in California.

2011-06-23 12:35:08

Secret Swiss financial account at UBS the culprit.

Another HSBC Undisclosed Account Holder Charged!

2011-05-19 14:52:06

Crackdown continues for offshore account holders failure to file FBAR's

HSBC Account Holder Pleads Guilty to False Filings

2011-04-19 19:42:36

HSBC offshore account holder to serve 3 years in prison. Beware!

HSBC: Judge Grants ‘John Doe’ Summons for HSBC Undisclosed Offshore Accounts

2011-04-08 20:12:19

Internal Revenue Service given the right to serve a summons on HSBC USA.

HSBC: Next Offshore Bank Account Target

2011-04-07 17:52:00

DOJ announces it's expanded its focus to include undisclosed foreign bank accounts with HSBC.

IRS Indicts Undisclosed Offshore Account Holders: Time Is Running Out!

2011-03-24 10:25:00

Pressure to intensify going forward as the government obtains more information from banks and often from other taxpayers.

UBS Account Holder Slammed With High FBAR Penalty

2011-03-11 16:27:00

Charged of willfully filing a false tax return and failure to disclose an interest bearing offshore account.

Credit Suisse: Offshore Bankers Indicted

2011-03-02 16:54:00

Credit Suisse International Bankers have recently been indicted on charges of illegal cross-border banking.

HSBC Banker Charged in NJ for Undisclosed Offshore Account

2011-01-26 16:26:00

The first U.S. taxpayer was charged today for keeping an undisclosed bank account with HSBC.

IRS Extends its Reach to Leumi - Urging all U.S. Clients to Come into Compliance

2010-12-09 12:35:02

IRS and DOJ continuing to investigate offshore accounts held at HSBC and UBS, and Bank of Leumi.

U.S. Government Continues to Crack Down on UBS Undisclosed Offshore Accounts

2010-11-24 09:25:00

Government continues to move forward on undisclosed offshore UBS cases.

UBS Completes Terms of DPA Agreement: All 4,450 Names Released

2010-10-29 16:19:00

The Department of Justice dismisses criminal charges against UBS which had been accused of aiding U.S. account holders evade as much as $20 billion of combined taxes.

Swiss Parliament Gives Green Light to Disclose United States Taxpayers’ Names to Internal Revenue Service

2010-06-17 17:00:00

Swiss tax authorities are working to gather the information required by the U.S. – UBS deal for delivery to the IRS before the August deadline.

Offshore Accounts: Swiss Parliament Votes to Allow Disclosure of UBS Accounts

2010-06-15 17:53:00

The Swiss Parliament has resolved its split over the UBS account information disclosure issue.

Swiss Parliament Temporarily Split on Whether to Allow UBS Disclosure

2010-06-09 10:43:45

Lower and Upper house of the Swiss Parliament disagree on UBS U.S. accountholder disclosure.

As Swiss Parliament Vote Approaches: US Taxpayers Continue to Disclose Accounts!

2010-05-27 13:06:06

Less than two weeks remain before the Swiss Parliament will vote!

Swiss Sign Protocol to UBS Agreement: Keeps Disclosure Process Moving

2010-03-31 09:23:00

The Swiss are at it again!

Swiss Parliament announces it will help with Disclosure of Information concerning Undisclosed Offshore Bank Accounts

2010-02-25 09:13:28

Another twist in the ongoing drama between the U.S. and Swiss government over the Swiss id's of U.S. account holders at mega-bank UBS.

Swiss Federal Adminsitrative Court Halts Disclosure Of Offshore Account Names

2010-01-31 22:16:09

On January 22, 2010, a Swiss Administrative Court ruled, that the failure by US citizens to complete certain tax forms (like W9's) or to declare income does not constitute "tax fraud".

IRS Discloses What It Considers Tax Evasion By Persons With Offshore Accounts

2009-11-24 13:08:37

Thanks to UBS, we now have a blueprint of how the IRS and DOJ will shape their tax evasion investigations vis-a vis offshore accounts.

Voluntary Disclosures Still Encouraged For U.S. Taxpayers With Offshore Accounts

2009-11-23 21:49:09

The IRS Offshore Account Voluntary Disclosure Program (the “Program”) is over. But that does not mean U.S. taxpayers with undisclosed foreign bank accounts should stay in hiding. In fact, the relative success of the Program makes it imperative for people with still undisclosed accounts to come forward and make a voluntary disclosure.

Terms of UBS Agreement Offer Insight Into U.S. Tax Evasion Campaign

2009-11-20 08:51:45

Now we know how UBS will determine which U.S. clients to turn over to the IRS.

Deadline Fast Approaching for US Taxpayers with Undeclared Offshore Accounts to Enter IRS Settlement Program

2009-08-30 22:22:38

IRS Commissioner Douglas Schulman announced that the September 23 deadline for U.S. taxpayers with undisclosed foreign bank accounts to come forward and participate in the Offshore Account Settlement Initiative will not be extended. Thus, U.S. taxpayers with accounts in foreign banks have just three weeks to make a voluntary disclosure of their accounts to the IRS or risk facing increased monetary penalties and potential criminal prosecution.

UBS reached a final deal with the US Department of Justice and the Internal Revenue Service: it will disclose the names and account details for more than 4,450 Americans suspected of tax evasion

2009-08-20 10:03:52

This number is a marked-decrease from the US Government's initial request to UBS for approximately 50,000 names and accounts.

UBS Settlement Details Are In - Will Disclose 4,500 Names

2009-08-20 09:46:27

IRS released some details of its settlement with UBS regarding the bank's disclosure of account holder information.

US PREPARING TO PROSECUTE 150 WITH UNDISCLOSED FOREIGN ACCOUNTS

2009-08-15 21:55:03

It appears the US government is preparing to prosecute 150 US citizens with undisclosed UBS offshore accounts.

US Confirms Settlement with Swiss in UBS Offshore Account Battle

2009-08-13 00:30:32

US confirms it has reached a settlement agreement with the Swiss government in the battle over names of holders of UBS offshore accounts. Details to come soon! Which foreign bank is next?

US & Switzerland Reach Deal In UBS Litigation

2009-08-07 18:13:44

The U.S. and Swiss governments have reportedly reached a deal in the on-going UBS litigation saga.

According to Swiss newspapers, UBS will not have to pay a fine

2009-08-07 18:08:09

According to Swiss newspapers, UBS will not have to pay a fine as part of the settlement concerning the undisclosed offshore accounts.

For all those US citizens with undisclosed UBS accounts

2009-07-31 11:19:07

FYI, for all those US citizens with undisclosed UBS accounts.