Posts Tagged ‘off shore banking’

Recent Swiss Bank Disclosure Urges Account Holders to Act Now

Friday, November 18th, 2011

Credit Suisse Group, the second largest bank in Switzerland, announced last Tuesday, November 8 that it was handing over to the IRS the names of offshore bank account holders suspected of tax evasion. Credit Suisse, (the second Swiss bank in the last two years) caved under IRS pressure to collect from financial institutions signifying, quite possibly, the beginning of the end of tax shelters.
Given the aggressive nature of US tax
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Tags: certified tax resolution specialist, delinquent taxes, Foreign Bank and Financial Accounts (FBAR), IRS enforcement, IRS penalties, off shore banking, off-shore accounts, tax attorney, tax cheat, tax evasion, tax expert, tax help, tax problems, tax professional, tax resolution expert, tax settlement, tax shelters
Posted in Tax Problem FAQs | No Comments »

Voluntary Disclosure Offers Income Tax Relief and Chance to Avoid Criminal Prosecution to Off Shore Account Holders

Thursday, May 14th, 2009

The IRS has announced a six-month Voluntary Disclosure program that offers lower penalties to those who come forward and pay taxes due on the secret holdings in offshore accounts. Until now, the IRS could impose penalties of at least 50% for all years in which an account wasn’t disclosed. In some cases, that could exceed the value of the offshore holdings.
The announcement comes amid a U.S. legal battle to
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Tags: amending tax returns, back tax, filing tax returns, income tax relief, IRS help, IRS penalties, irs problems, IRS tax problems, Michael Rozbruch, off shore banking, quiet disclosures, tax attorney, tax evasion, tax expert, tax resolution, tax resolution services, UBS legal battle, Voluntary Disclosure
Posted in Tax news and tips, Voluntary Disclosure | 1 Comment »