“Will I get caught?” is one of the most common questions asked by potential tax cheats. The temptation to cheat the IRS is overwhelming for thousands of Americans. While no one knows whether and when they will be caught, the IRS has become much better at finding those who evade taxes. One of the best […]
Tax Evasion and Shell Companies – IRS Whistleblower Reward Post
[Updated through December 2020] The world is becoming more transparent by the day. As more banks and governments exchange financial information, thousands of innocent folks are getting caught in government drag nets designed to identify those with unreported offshore accounts. Many, however, are not innocent. Most folks with offshore accounts are dual nationals, foreign born […]
IRS FBAR Whistleblower Post – The Waiting Is Over
[Post updated 2020] We have been warning people for years that the day of reckoning was coming. Sure, there were some false starts and last minute political moves, but the waiting is over. In 2013, Switzerland and the United States reached an agreement where the Swiss will begin releasing the names of thousands of U.S. […]
Tax Evasion Update – HSBC Whistleblower In High Demand
Twice before we wrote about Herve Falciani, a former computer specialist for HSBC bank in Switzerland. Falciani is a fugitive from Swiss authorities but welcomed in other European countries. Why? Because he allegedly stole the names of 130,000 client names from his former employer; names that are probably responsible for billions in unreported foreign accounts and […]
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 […]
Top Tax Scams – Are You On The IRS' Radar?
by Brian Mahany With just 2 weeks before taxes are due, the IRS has cranked up their publicity machine. Indictments, public service announcements and lots of information. One of the more interesting stories is the IRS “dirty dozen” tax scams. While identity theft occupies the number 1 spot again, several “scams” warrant special mention. Near […]
Charges Against US Lawyer Proceeding – Red Flag For CPAs and Lawyers That Have Clients With Offshore Accounts
[Updated 2021] Previously we reported on California attorney Christopher Rusch after he was indicted and arrested for helping two clients establish unreported foreign accounts. Rusch initially denied the charges but court documents released this month suggest he may have cut a plea deal with prosecutors. The case is being closely watched by those with unreported […]
Think No One Will Discover Your Offshore Account? Read This!
by Brian Mahany We are never surprised anymore when the feds announce a new wave of indictments against taxpayers with unreported accounts. Until 2008, the IRS didn’t look very hard and prosecutions were few. As the economy has soured, tax authorities around the world have become quite creative in finding new revenue streams. To enforce […]
Treasury Hunting Nominee Accounts – IRS Whistleblower Post
[Updated 2021] The U.S. government is getting quite sophisticated in its hunt for unreported foreign accounts and those they believe are laundering money. While most people who haven’t reported their offshore bank and brokerage accounts don’t have a clue about the disclosure rules, some do. The people who have decided not to cooperate with the […]
Battle of the Titans
by Brian Mahany We hear of many people making claims against their tax preparers for not properly advising them of their foreign account reporting requirements. Lately some taxpayers are suing Swiss banks for allegedly providing them bad advise – like, “don’t worry you won’t get caught.” Now in what may be the ultimate lawsuit, billionaire […]