[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. […]
$104 Million IRS Whistleblower Reward? Yup, Bank Secrecy is Dead!
Meet Bradley Birkenfeld. Bradley is a disgraced former Swiss banker that spent about 2 and a 1/2 years in prison for helping Americans evade taxes and hide their money in Swiss accounts. He is out of jail now and is getting a check from Uncle Sam for $104 million. What did he do to earn […]
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 […]
Does The New FATCA Law Help Foreign Dictators?
by Brian Mahany Most of our posts are designed to help folks understand tax laws and to prevent people becoming victims of fraud. Although we often have strong opinions on tax policy, we try not to politicize this blog. Uncle Sam’s relentless pursuit of unreported foreign bank accounts and offshore income has generated many strong […]
Lawyer Indicted For Helping Clients Set Up Offshore Swiss Bank Accounts
by Brian Mahany The IRS and U.S. Department of Justice show no sign of letting up in their quest to ferret out U.S. taxpayers with unreported offshore accounts. Earlier this week Justice officials unsealed an indictment against a former San Diego tax attorney and two of his clients for alleging hiding millions in unreported Swiss […]