It was reported that on June 23, 2016  that the UBS Group AG has ended a legal fight with the Internal Revenue Service, agreeing to hand over records on an American client’s account in Singapore as U.S. authorities seek to move beyond Switzerland in their fight against offshore tax evasion. The case involves information that […]

Criminal investigators from the US Internal Revenue Service (IRS) are investigating whether a Singapore asset-management firm accepted transfers from undeclared Swiss accounts closed by US taxpayers, the Wall Street Journal reported. Lawyers who spoke to the Journal on the matter declined to name the Singapore firm being probed but said a handful of clients were […]

The Department of Justice announced today that two banks, Rothschild Bank AG and Banca Credinvest SA, have reached resolutions under the department’s Swiss Bank Program. http://www.justice.gov/tax/pr/united-states-and-switzerland-issue-joint-statement-regarding-tax-evasion-investigations “The days of safely hiding behind shell corporations and numbered bank accounts are over,” said Acting Assistant Attorney General Caroline D. Ciraolo of the Department of Justice’s Tax Division. “As […]

After a six year long criminal investigation by the U.S. Department of Justice, Credit Suisse AG pleaded guilty in federal court on May 19, 2014 to federal charges that it had engaged in a decades long criminal conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the […]

Some of the folks down at the IRS may have been ‘confused‘ about how to apply the tax exempt organization rules, especially those rogue employees in Cincinnati. But the IRS isn’t confused at all about the power of FATCA, the Foreign Account Tax Compliance Act. It is America’s global tax reporting law. Never before has […]

London’s Mayor Boris Johnson needs an American tax lawyer, and I’m volunteering. Fresh off his American tour promoting his Churchill book, Mayor Boris has a bone to pick with the IRS. Where do these Yanks get off taxing me? The tousled blond mayor says he refuses to pay an IRS tax demand. Mayor Johnson has […]

Joshua Vandyk, an investment advisor, was sentenced today to serve 30 months in prison for conspiring to launder monetary instruments, the Justice Department and Internal Revenue Service (IRS) announced. Vandyk, a U.S. citizen, and Eric St-Cyr and Patrick Poulin, Canadian citizens, were indicted by a grand jury in the U.S. District Court for the Eastern […]

There seems an increased use of undercover agents by the IRS and other tax authorities in offshore jurisdictions. US v. Robert Bandfield, et al. The indictment in September 2014 of a Belize corporate service provider (CSP) and investment management company in the US is evidence of this trend. In the case US v. Robert Bandfield, […]