slots and table games sign up bonus for slots online roulette for USA players casino paypal you will find best offers from online casino Mac online slots for US players online slot gambling sites best online casinos with high stakes

Archive for category Tax

How Safe Is Your Offshore Account Data? It’s Not

Readers of this blog know that we are always following reports of data leaks and breaches, especially when they concern foreign bank accounts or tax information. Several countries openly pay bank employees to steal and disclose otherwise confidential account information. Those governments aren’t looking to hack accounts or steal; instead they want to know who [...]

No Comments

Swiss Bank Vadian Latest to Cooperate with IRS

According to a wire report from Reuters, Vadian Bank AG, a small bank located in St. Gallen, Switzerland, is the latest bank to cooperate with the U.S. Department of Justice. In 2013, the U.S. government offered a voluntary disclosure program for Swiss banks that helped Americans hide their assets from the IRS. Earlier this spring, [...]

No Comments

Mahany Speaks With IRS About New FBAR Initiatives

Several days ago I had the opportunity to attend an offshore finance conference in Miami. Present were several senior managers and lawyers assigned to the IRS’ Offshore Compliance Initiative. These are the IRS folks in charge of FATCA and FBAR enforcement. After the conference, I also had the opportunity to speak with several of the [...]

No Comments

Court Upholds FBAR Penalties

A federal judge in Seattle upheld the IRS in a closely watched FBAR penalty case. Very few FBAR cases make it to federal court. Most are resolved at the IRS appeals level or in U.S. Tax Court. Earlier this month, a U.S. District Court judge found that the maximum penalties imposed against taxpayer James Moore [...]

No Comments

Swiss Bank BSI Cooperates with IRS

Banca della Svizzera Italiana – BSI for short – is one of the oldest banks in Switzerland. Founded in 1873, the bank has approximately $25.7 billion (USD) in assets and 2000 employees. Today, however, the bank’s balance sheet is a little short… about $211 million less. That’s because yesterday, BSI agreed to an amnesty deal [...]

No Comments

Banker Cooperates with Feds, Avoids Prison (FBAR Post)

Andreas Bachmann, a former Credit Suisse banker, was spared prison and instead received probation after cooperating with the IRS and U.S. Department of Justice. Bachmann was sentenced this month after pleading guilty to conspiracy to defraud the IRS. Prosecutors say he helped wealthy Americans evade U.S. taxes by hiding money in offshore accounts. Owning a [...]

No Comments

IRS Search Leads to Suicide

This is a sad, sad story. It is a reminder of why the government must always be vigilant in how it conducts its business. Particularly, with how the IRS collects taxes and enforces the Tax Code. The story begins in 2007 and is still winding its way through the courts. A recent decision by a [...]

No Comments

Developer Gets Prison in Tax Evasion Case

In the few weeks before the traditional tax due date of April 15th, IRS agents and Justice Department are pushing as many cases into court as possible. The reason is simple. Big tax evasion headlines “scare” people who are otherwise tempted to cheat on their taxes. One Seattle businessman, however, got caught and is now [...]

No Comments

FBAR Wilfullness Penalty Revisited.

The IRS has become too aggressive in its enforcement of the “willfulness provision” for unfiled FBAR forms. Two court decisions in 2012 gave the IRS a green light to pretty much impose strict liability for violations. To best understand the current IRS position, some brief history is required. The Bank Secrecy Act requires most Americans [...]

No Comments

When It Rains, It Pours… HSBC Drowning in Troubles

For over a year, Bank of America seemed to make headline news every day. Unfortunately, none of those headlines were good. Now top honors goes to HSBC. This time it is Argentina claiming that the British banking giant helped clients evade taxes. According to published reports, the Argentine tax authority, Afip, has raided HSBC. Argentinian [...]

No Comments

android surveillance software mobile phone spy software android slots real money play slots no download real money