Search Results for: Internal Revenue Service
UBS investigated for tax fraud and money laundering in Belgium
February 29th, 2016
Swiss bank giant UBS is being investigated over money laundering and serious organised tax fraud in Belgium. A statement from prosecutors said: “The Swiss bank is suspected of having directly, and not via its Belgian subsidiary, approached Belgian clients ...
Swiss bank cooperates with US as 2 ex-bankers plead guilty
February 5th, 2016
Swiss bank Julius Baer, facing a criminal charge, has agreed to pay $547 million and cooperate for three years with American authorities to shut down accounts that enabled wealthy Americans to evade taxes, authorities announced Thursday. Before lawyers for ...
Which country is the World’s Favorite New Tax Haven?
January 28th, 2016
The World’s Favorite New Tax Haven Is the United States Moving money out of the usual offshore secrecy havens and into the U.S. is a brisk new business. Last September, at a law firm overlooking San Francisco Bay, Andrew ...
US Swiss bank program reaches $1B in fines
December 28th, 2015
US officials announced settlements with four more Swiss banks Wednesday to lift the total fines in the two-year disclosure program to more than $1 billion from 75 banks. “With today’s resolutions under the Swiss Bank Program, the department has ...
Bitcoin At Tax Time: What You Need To Know About Trading, Tipping, Mining And More
December 17th, 2015
If you have come into possession of Bitcoin or any other digital currency such as Ripple or Litecoin that is “convertible” to a real currency or can be used to pay for goods and services, it may seem virtual. But ...
Yahoo Board to Weigh Sale of Internet Business
December 2nd, 2015
Board to discuss whether to proceed with a plan to spin off its investment in Alibaba, find a buyer for its core business, or both, sources said Yahoo Inc.’s board is planning a series of meetings this week to consider ...
Deutsche Bank’s Swiss Unit to Pay $31 Million in Tax Case
November 27th, 2015
U.S. has reached non-prosecution deals with 57 Swiss banks Firms have paid a total of $570.4 million in tax accords Deutsche Bank AG’s Swiss unit agreed to pay $31 million to receive a non-prosecution agreement in a U.S. probe ...
IRS: Offshore Compliance Programs Generate $8 Billion
November 16th, 2015
With more than 54,000 taxpayers coming in to participate in offshore disclosure programs since 2009, the Internal Revenue Service today reminded U.S. taxpayers with undisclosed offshore accounts that they should strongly consider existing paths established to come into full ...
IRS Extends FATCA IGA Compliance Deadline
October 26th, 2015
Within its Notice 2015-66, the Internal Revenue Service (IRS) has provided for a delay to the provision of information under Model 1 Foreign Account Tax Compliance Act (FATCA) intergovernmental agreements (IGAs) signed by other jurisdictions with the United States. ...
Over $31 Million in penalties for Fraud and Ponzi Scheme Operator
October 21st, 2015
In a Related Criminal Action, John R. Bullar was sentenced to 8 Years 4 Months in Prison and Ordered to Pay over $6 Million in Criminal Restitution The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Michael ...
