Tax Law Blog

In early June, the Internal Revenue Service (IRS) took a step toward helping those with late payments associated with the new section 965 transition tax.

Britain has finally given in to pressure to require greater transparency from its far-flung territories on tax concerns.

Offshore tax havens with lax regulatory environments are the bane of legitimate governments everywhere. Using these tax...

Tax season is coming to a close—or is it?

In its annual call-out of common scams to defraud federal coffers, offshore tax evasion still ranks high for the Internal Revenue Service (IRS).

Americans are required to comply with the requirements of Foreign Bank Account Reports. Failing to report a foreign bank account that has a value of $10,000 at any point during the year can result in serious consequences of FBAR violations. The...

Taxpayers with undisclosed foreign assets urged to come forward now.

The Internal Revenue Service today announcedit will begin to ramp down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close the program on Sept. 28, 2018. By alerting...

In an effort to address international offshore tax evasion and avoidance, the European Union (EU) created a blacklist in December 2017 that identified 17 countries and put 47 more on a “gray list” for failing to meet international standards of...

At the recent 34^th annual National Institute on Criminal Tax, the Department of Justice (DOJ) announced that it intended to impose stricter sentences in Foreign Bank Account Report (FBAR) cases. Under these new rules, violators could be subjected to...

Secret Swiss accounts, loose gems, and shell companies figured prominently in the case against a Connecticut resident who pled guilty to tax crimes and failure to report on offshore assets.

Recently filed charges against businessman and lobbyist Paul Manafort offer a wealth of advice and warning about foreign holdings and associated tax requirements.