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Recent Tax Court Case Rules on Treatment of Madoff Account
  • Bryan Cave LLP
  • USA
  • October 3 2016

In a recent Tax Court decision, Harry H. Falk, and Steven P. Heller, Co-Executors, v. Commissioner of the Internal Revenue, the United States Tax

How to protect against 'trust busting' by the US authorities - lessons learned from the Wyly case
  • Taylor Wessing
  • USA
  • September 30 2016

Texas investors, Sam and Charles Wyly amassed vast wealth from various investments and business ventures including those in technology, restaurant

Judge Batts: Investors in Madoff Feeder Fund Lack Standing to Sue Fund Managers and Auditors
  • Steptoe & Johnson LLP
  • USA
  • September 22 2016

In an opinion yesterday, Judge Batts dismissed claims by investors in a Madoff feeder fund against the fund’s managers and auditors because, under

Greenfield': Act of Production Doctrine Is Alive and Well
  • Morvillo Abramowitz Grand Iason & Anello PC
  • USA
  • September 15 2016

In their ongoing pursuit of taxpayers who use undisclosed offshore accounts to conceal assets and evade taxation, the Internal Revenue Service and the

New York DFS Issues $180M BSAAML Penalty
  • Manatt Phelps & Phillips LLP
  • Panama, USA
  • September 15 2016

New York's banking regulator cracked down on enforcement of the state's anti-money laundering (AML) law, issuing a $180 million penalty against Mega

US Government Issues Guidance to Reassure US Banks Involved in Foreign Correspondent Relationships
  • Dechert LLP
  • USA
  • September 2 2016

The U.S. Department of the Treasury, together with other U.S. government agencies responsible for enforcing anti-money Laundering (AML) and economic

Singapore and United States Affirm Efforts to Strengthen Sharing of Tax Information
  • Herbert Smith Freehills LLP
  • OECD, Singapore, USA
  • August 15 2016

A joint statement issued by the United States and Singapore suggests that US authorities are seeking to accelerate off-shore tax enforcement aimed at

Panama Papers and US initiatives to identify entity beneficial owners
  • Kozusko Harris Duncan
  • USA
  • August 4 2016

In early April 2016 files leaked from a large Panama-based law firm (known as the 'Panama Papers') brought to the attention of many the ways in which

Panama Papers Should Prompt Compliance Review
  • Womble Carlyle Sandridge & Rice LLP
  • USA
  • August 4 2016

The “Panama Papers” are back in the news with confirmation last week that federal prosecutors are conducting a criminal investigation of individuals

Singapore’s Banking Secrets - Not So Secret Anymore
  • K&L Gates
  • Singapore, USA
  • July 4 2016

Since 2008, the U.S. Government has largely focused its enforcement actions against Swiss banks that may have assisted U.S. taxpayers in evading