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News & Events

Category: Offshore Account Update - Page 36

IRS EXTENDS OFFSHORE ACCOUNT VOLUNTARY DISCLOSURE DEADLINE TO OCTOBER 15

Offshore Account Update

Posted in on November 10, 2009

As anticipated, undisclosed government sources have confirmed that the IRS is extending the deadline for U.S. taxpayers with undisclosed foreign bank accounts to come forward and participate in the special voluntary disclosure settlement initiative.

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U.S. Aggressively Pursuing Taxpayer Information from Other Countries

Offshore Account Update

Posted in on September 15, 2009

U.S. authorities have been very busy negotiating agreements with other counties that will make it easier for the U.S. to identify and prosecute U.S. taxpayers hiding money and assets overseas.

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New IRS Unit Dedicated to Investigating U.S. Taxpayers with Undisclosed Offshore Accounts

Offshore Account Update

Posted in on September 14, 2009

The IRS recently reaffirmed its commitment to combating offshore tax evasion by forming a new elite unit of professionals dedicated to investigating and auditing offshore tax evasion by U.S. taxpayers.

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

Offshore Account Update, UBS / HSBC

Posted in on September 11, 2009

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. - See more at: https://www.thorntaxlaw.com/blog-cat.php?category_id=13#sthash.Zwlo8rQx.dpuf

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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

Offshore Account Update, UBS / HSBC

Posted in on September 8, 2009

But do not breathe a sigh of relief just yet.  The criteria used to refine the list is a closely-guarded secret.  Any UBS depositor is still at risk.  We simply cannot know for sure for whom or what the US government is looking. 

 

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