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Results: 1-10 of 23

Grand jury indicts Swiss lawyer and banker in tax evasion scheme

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 26 2013

A New York federal grand jury recently indicted a Swiss lawyer and bank executive for their roles in allegedly assisting US citizens with hiding

In Re: Grand Jury Subpoena, 5th Cir., No. 11-20750 (09212012)

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • November 15 2012

The Fifth Circuit Court of Appeals reversed the district court's denial of the government's motion to compel production of foreign bank account records required to be kept under Treasury Department regulations by the target of a grand jury investigation (the "witness"

What does the flap over Romney’s tax returns suggest about disclosure of his Swiss account?

  • Morvillo Abramowitz Grand Iason & Anello PC
  • -
  • USA
  • -
  • August 8 2012

As the “will he or won’t he” controversy continues to swirl around demands that Mitt Romney release multiple years of his federal income tax returns, some commentators have speculated that Governor Romney’s reluctance to produce those returns relates to his Swiss bank account

Switzerland responds to Wegelin indictment and DOJ’s relentless pursuit of offshore bank account information

  • Sheppard Mullin Richter & Hampton LLP
  • -
  • Switzerland, USA
  • -
  • March 19 2012

On February 2, 2012, Wegelin & Co., Switzerland’s oldest private bank, became the first overseas bank to be indicted by the United States for aiding tax fraudbut it may not be the last

Out of sight isn’t out of (the IRS’s) mind: the expanding universe of foreign disclosure requirements

  • Baker Donelson Bearman Caldwell & Berkowitz PC
  • -
  • USA
  • -
  • July 27 2011

Taxpayers who fail to comply with U.S. income tax and foreign asset reporting requirements face draconian civil and criminal penalties, and enforcement of these requirements remains a priority for the IRS

August 31 amnesty deadline for Indian bank accounts: DOJ and IRS pair up to target Indian off-shore bank accounts at HSBC

  • Foley & Lardner LLP
  • -
  • USA
  • -
  • July 8 2011

Anyone with an off-shore bank or brokerage account in India who has not yet reported the account on his or her tax return has until August 31, 2011 to take advantage of a U.S. government-sponsored amnesty program to remedy that situation

FBAR filing deadline for extensions for certain individuals with signature authority

  • McDermott Will & Emery
  • -
  • USA
  • -
  • June 29 2011

The Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Treasury Department, and the Internal Revenue Service (IRS), recently issued three notices, FinCEN Notices 2011-1 and 2011-2 and IRS Notice 2011-54

Two more extensions: IRS and FinCEN issue extensions for certain FBAR filers in IRS Notice 2011-54 and FinCEN Notice 2011-2

  • Morgan Lewis & Bockius LLP
  • -
  • USA
  • -
  • June 20 2011

On June 16, the Internal Revenue Service (IRS) issued Notice 2011-54, which provides that U.S. persons having signature authority over, but no financial interest in, foreign financial accounts in 2009 or earlier calendar years for which the reporting deadline was extended by Notice 2009-62 or Notice 2010-23 will now have until November 1, 2011 to file Foreign Bank and Financial Accounts (FBARs) with respect to those accounts

FBAR filing deadline extended for certain persons

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • June 20 2011

On June 16th, the Internal Revenue Service and the Financial Crimes Enforcement Network extended to November 1, 2011, the deadline by which persons having signature authority over, but no financial interest in, a foreign financial account in 2009 or earlier calendar years must filed a Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts ("FBAR"

FinCEN issues extension for certain FBAR filers

  • Morgan Lewis & Bockius LLP
  • -
  • USA
  • -
  • June 3 2011

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department issued Notice 2011-1 (the Notice) on May 31, providing a filing extension until June 30, 2012 for certain U.S. persons with signature authority over, but no financial interest in, foreign financial accounts of their employers and entities related to their employers, who are required to file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR

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