Due Diligence
Posts Tagged offshore accounts
Right to Remain Silent in Offshore Asset Cases? NO Says Appeals Court!
by Brian Mahany
Our 5th amendment privilege against self - incrimination is a basic fundamental right guaranteed by the Constitution. Americans can trace this protection from government abuse of authority all the way back to 1215 and the Magna Carta. Think of growing up watching TV shows and movies where the cops tell the bad guy [...]
California IRS lawyer, FATCA, FATCA attorney, FATCA lawyer, FBAR, FBAR lawyer, Foreign Account Tax Compliance Act, foreign bank, Foreign Bank and Financial Accounts, IRS, Michigan tax lawyer, Minnesota tax attorney, offshore accounts, offshore voluntary disclosure initiative, OVDI, OVDP, Portland tax lawyer, Swiss bank, tax lawyer, UBS tax evasion, unreported income, Wisconsin tax attorney
$500,000 Penalties On $4000 Tax Case? Unfortunately Yes!
by Brian Mahany
Not a week goes by that we don’t sound the alarm about the penalties for those with unreported offshore accounts. Most people heed our advice when they learn that foreign bank and brokerage accounts must be disclosed annually to the IRS. A few, however, would rather play audit roulette and hope they don’t [...]
California tax attorney, FATCA, FATCA lawyer, FBAR, FBAR lawyer, Foreign Account Tax Compliance Act, Foreign Bank and Financial Accounts, Indian accounts, Indian tax fraud, IRS amnesty, Maine tax attorney, Michigan tax attorney, Minnesota tax attorney, offshore accounts, offshore voluntary disclosure initiative, offshore voluntary disclosure program, OVDI, OVDP, OVDP lawyer, Swiss accounts, ta amnesty, unreported income, Wisconsin tax attorney
What About Hiding My Money in Some of the Lesser Known Places?
by Brian Mahany
“What about hiding my money from Uncle Sam in some of the lesser known countries?” That question has been asked of us from time to time. Of course, we can’t and won’t help people evade taxes.
By now, readers of this blog know that it isn’t safe to hide your money from Uncle Sam [...]
Detroit tax lawyer, FATCA, FBAR, FBAR lawyer, Foreign Account Tax Compliance Act, Foreign Bank and Financial Accounts, Indian tax fraud, Milwaukee tax lawyer, Minneapolis tax lawyer, offshore accounts, offshore voluntary disclosure initiative, offshore voluntary disclosure program, OVDI, OVDP, Portland tax lawyer, San Francisco tax lawyer, Swiss bank accounts, tax amnesty, unreported accounts, unreported income, Wegelin fraud, Wisconsin tax attorney
Beware America? Or Beware Wegelin?
by Brian Mahany
In the aftermath of the indictments against three Wegelin bankers for conspiracy to defraud the U.S. government, I thought it interesting to post the investment “commentary” called “Farewell America” published on the Wegelin website in August of 2009. As of this writing, it is still available for anyone to read. For those not [...]
Detroit tax lawyer, FATCA, FBAR, FBAR lawyer, Foreign Account Tax Compliance Act, Foreign Bank and Financial Accounts, Indian tax fraud, Milwaukee tax lawyer, Minneapolis tax lawyer, offshore accounts, offshore voluntary disclosure initiative, offshore voluntary disclosure program, OVDI, OVDP, Portland tax lawyer, San Francisco tax lawyer, Swiss bank accounts, tax amnesty, unreported accounts, unreported income, Wegelin fraud, Wisconsin tax attorney
Swiss Account Holders Beware!
by Brian Mahany
UBS is old news. In recent months we have reported on investigations by the IRS and the U.S. Department of Justice into Credit Suisse, Wegelin, Kantonbank, Clariden Leu, Basler and Julius Baer. In November a former Justice Department official said the list was up to 17 banks. According to a new article by [...]
California tax attorney, FATCA, FATCA lawyer, FBAR, FBAR lawyer, Foreign Account Tax Compliance Act, foreign bank accounts, Foreign Bank and Financial Accounts, IRS, IRS lawyer, Maine tax attorney, Michigan tax attorney, Minnesota tax attorney, offshore accounts, offshore voluntary disclosure initiative, offshore voluntary disclosure program, OVDI, OVDP, OVDP lawyer, overseas accounts, tax amnesty, tax lawyer, unreported accounts, unreported income, Wisconsin tax attorney
Storm Clouds Gather For U.S. Taxpayers With Offshore Holdings
by Brian Mahany
The IRS and CPA community has done an abysmal job of educating U.S. taxpayers with offshore accounts or income about their IRS filing obligations. The Offshore Voluntary Disclosure Initiative ended last fall, yet we still receive calls daily from clients just learning of their reporting obligations. These aren’t tax cheats or people trying [...]
California tax attorney, Detroit tax lawyer, FATCA, FATCA lawyer, FBAR, FBAR lawyer, Foreign Account Tax Compliance Act, foreign assets, Foreign Bank and Financial Accounts, form 8938, IRS 8938, IRS lawyer, Michigan tax attorney, Minnesota tax lawyer, offshore accounts, offshore bank, offshore voluntary disclosure initiative, OVDI, unreported accounts, unreported income, Wisconsin tax lawyer
Government’s Appeal of FBAR Penalty Loss Headed to Hearing
by Brian Mahany
For the few lawyers that extensively help taxpayers with offshore reporting and FBAR problems, the case of United States v. J. Bryan Williams decided in 2010 was a watershed moment. For those not familiar with the case, Bryan Williams was convicted of tax evasion and conspiracy to defraud the IRS back in 2003. [...]
FBAR, FBAR lawyer, Foreign Bank and Financial Accounts, foreign banking, Michigan tax attorney, Milwaukee tax lawyer, Minneapolis tax lawyer, Minnesota tax attorney, offshore accounts, OVDI, quiet disclosure, tax amnesty lawyer, unreported income, voluntary disclosure
Show Down Time Between US IRS and Swiss Banks
by Brian Mahany
The US government’s deadline for 11 Swiss banks to turn over names came and went on Tuesday. Although Credit Suisse has apparently agreed to comply, Swiss news source Swiss Info says the banks are remaining “tight lipped.”
The IRS is seeking not only the names of US account holders but correspondence between the bank [...]
amnesty lawyer, California IRS lawyer, Credit Suisse fraud, FBAR, FBAR lawyer, foreign accounts, Foreign Bank and Financial Accounts, IRS, IRS lawyer, Michigan tax attorney, Milwaukee tax attorney, offshore accounts, offshore voluntary disclosure initiative, OVDI, OVDI lawyer, Swiss bank accounts, tax amnesty, UBS tax evasion, unreported income, Wisconsin IRS lawyer, Wisconsin tax attorney
New Foreign Asset Reporting Begins January 1st
by Brian Mahany
Just as the dust starts to settle on the offshore amnesty (OVDI) and FBAR rules, the IRS gives us a new form with more rules and more penalties for the unwary.
As part of the Foreign Asset Tax Compliance Act (FATCA) and the Hire Act of 2010, Congress mandated that for tax years beginning [...]
California tax lawyer, Detroit tax attorney, FATCA, FBAR, foreign assets, Foreign Bank and Financial Accounts, foreign banking, IRS, IRS lawyer, offshore accounts, offshore voluntary disclosure initiative, OVDI, Portland tax attorney, tax attorney
Filing Delinquent FBARs in a Post Amnesty World
by Brian Mahany
Amnesty has been over for months and yet many people still have not reported their offshore accounts to the IRS. For some the decision is intentional. For many others, they only just became aware of the law.
The vast majority of offshore account holders are not multimillionaires with hidden Swiss [...]
FBAR, FBAR lawyer, foreign bank accounts, Foreign Bank and Financial Accounts, IRS, IRS lawyer, Maine tax attorney, Michigan tax lawyer, offshore accounts, offshore banking, offshore reporting, offshore voluntary disclosure initiative, OVDI, tax amnesty, tax on foreign brokerage accounts, unreported accounts, Wisconsin tax lawyer
Blogroll
- Acrimoney
- Aegis Journal
- Arts Law For Everyone
- Asset Protection Blog (Jeff Andrews Esq.)
- Consequences
- Daniel Stoica Accounting Professional
- Federal Tax Crimes
- Guiliano Law Firm: Security Arbitration
- Internal Investigations
- Mahany Law Blog
- Massachusetts Law Blog
- MauledAgain
- Milwaukee Business Lawyer
- Our Taxing Times
- Popehat - A Group Complaint about Law
- RESPA Lawyer Blog (Marx Sterbcow Esq.)
- Sequence Inc. Fraud Files
- Tax Controversy Update
- Tax Lawyers Blog
- Tax Updates for Non Profits by Steve Hoffman
- The Compliance Authority
- The Legal Beat
- Wall Street Law Blog
- Wisconsin Lawyers Blog
Subscribe to our Blog
Recent Comments