We frequently post stories about both Americans and foreign bankers prosecuted for tax evasion involving unreported offshore accounts. U.S. taxpayers are usually prosecuted for filing a false tax return (a 3 year felony) or failure to file an FBAR (5 years). Bankers, lawyers and accountants associated with these taxpayers are frequently charged with conspiracy to […]
300 Swiss Banks Debating Settlement WIth The IRS? (FBAR Post)
[With a July 2019 update] According to a wire story from Reuters, the Swiss government is considering a global settlement on behalf of hundreds of Swiss banks. Although the details of the settlement discussions were not revealed, U.S. Justice Department officials and the IRS are not likely to agree on any settlement absent full disclosures […]