The NYTimes reported a recent case where a wealthy investor in Virginia pleaded guilty to tax evasion charges involving his undisclosed foreign funds. One thing that distinguishes this investor from the many taxpayers who have been prosecuted by the IRS for hiding funds abroad was that this investor’s money was not hid in UBS.
Indeed, the IRS is expanding its reach to other banks beyond UBS that are helping wealthy Americans
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You don’t have to be a wealthy jet-setter to get caught in the IRS crosshairs - especially as they are aggressively going after million in back taxes from undisclosed fund in foreign bank accounts.
My associate Brian Compton is one of the nation’s leading offshore tax evasion defense experts. He was recently interviewed by Joe Mont for an article in The Street.com, Overseas Bank Sting Ensnares Average Joes. That’s right- NO
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Internal documents reveal IRS has made offshore tax evasion its highest-priority target; investigators will focus on unreported income
By Michael Rozbruch
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The memo sent to examination staff of the Internal Revenue Service was clear.
Investigators should make sure offshore tax cases “receive priority treatment.”
Indeed, internal documents released by the tax-collecting agency, coupled with public comments from IRS Commissioner Doug Shulman, leave little doubt the government will focus the brunt of its enforcement efforts
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In a blow to tax cheats, Switzerland’s largest bank agrees to divulge the names of those suspect of using offshore accounts to evade U.S. taxes
By Michael Rozbruch
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In the world of tax cheats, the news doesn’t get much bigger.
UBS, the largest bank in Switzerland, agreed to provide to the U.S. government with the names of those it suspects of using its accounts to evade paying taxes in the United States. The
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The IRS announced new voluntary disclosure practices for offshore account holders. Voluntary disclosure can help taxpayers avoid prosecution for possible tax evasion and reduce taxes, penalties, and interest owed.  The IRS offers leniency for voluntary disclosure and Americans with IRS tax problems should take advantage of this policy to mitigate legal problems later.
While taxpayers can participate in the voluntary disclosure program before the IRS has initiated a civil or criminal
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The IRS has is reportedly going after the relatives of Holocaust survivors and refugees who hid money in Switzerland before World War II broke out.
Reports out of Zurich indicate the Swiss government has agreed to give the IRS information about some overseas accounts for people trying to avoid U.S. banking laws. The development stems from a U.S. Justice Department investigation of UBS’ alleged courting of wealthy Americans for such
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