Offshore Account Cheats Seek Dismissal of U.S. Indictment
In recent Credit Sussie news, the Swiss bank accused of aiding Americans in cheating taxes with offshore accounts is seeking a dismissal of their indictment by the Justice Department.
In an article by David Voreacos titled Credit Sussie Bankers Said to Seek Dismissal of U.S. Indictment on Bloomberg, Voresacos discusses the bank’s current predicament and the chances of a dismissal of the indictment. According to the article, Credit Sussie is cooperating with the U.S Justice department. The lawyers for the bankers charged in the case want to resolve the case as part of a U.S. settlement with the Swiss government. However, experts agree that the likelihood of the Justice Department’s tax division to give a pass to Credit Sussie is pretty slim.
“The indictment traces how the bankers helped 35 American customers hide their funds in undeclared accounts from the Internal Revenue Service. One of clients, identified as Customer 17, secretly carried $250,000 from the U.S. to Switzerland by hiding the cash in nylon pantyhose wrapped around their body.”
The recent aggressive enforcement of US tax collection attempts is signaling a tough-as -nails crackdown on tax havens such as Credit Sussie. This is an important time for any U.S. taxpayer involved with offshore accounts (especially those with accounts with Credit Sussie) and delinquent taxes to step up and report now rather than later….but consider getting expert tax representation so you are not going it alone with the IRS.
In one of our recent press releases, I advise clients with offshore holdings that it’s always better to report income to the IRS than try to hide it, late or not. As the latest crackdown regarding offshore bank accounts shows, no one is safe from IRS reach – they’re more motivated than ever to investigate and force into compliance wealthy individuals, both at home and overseas. It is imperative for those individuals who have not already reported, to do so now, because doing nothing has them looking at severe fines, penalties and possible criminal prosecution and indictment.
For more information on the Credit Sussie case, read the article Credit Sussie Bankers Said to Seek Dismissal of U.S. Indictment.
If you have unreported offshore accounts, you may not want to go to the IRS alone. Feel free to contact us for a consultation.
More Tax Help, IRS News and Tax Relief Tips:
- Swiss Pressured to Reveal All Offshore Accounts
- Treasury Proposes Multilateral Agreement for Offshore Compliance
- IRS Tax Relief News: Tax Case Convictions on the Rise For Americans with IRS Problems
- Retire Your IRS Back Taxes Forever: How Tax Resolution Services Helped Save a Taxpayer $130,000
- Tax Help for IRS Scrutiny-Retirement Income
Tags: Credit Sussie, IRS help, irs problems, Michael Rozbruch, offshore bank accounts, offshore tax account, offshore tax cases, offshore tax dodgers, tax advice, tax expert, tax news
