The filing date for the Foreign Bank and Financial Accounts (FBAR) report is coming right up. While filing on time allows you to fulfill your responsibilities as an American taxpayer, it also helps you avoid the sizeable penalties you can incur for...Read More
It started with a 63-count indictment in 2013. It ended with 121 months in federal prison in 2019. Here is the story of how not to manage your affairs if you are charged with tax fraud.Read More
A former Swiss banker faces a life in exile after conviction on charges of commercial espionage after he reportedly sold details about German tax evaders to government officials.Read More
As far as reputation, the United States lost some gloss this year. A non-governmental organization (NGO) that combats global corruption ranked the US six spots lower in their annual Corruption Perceptions Index.Read More
The 2019 winter government shutdown was another blow to the beleaguered agency that collects your taxes and checks to see whether your FBAR is all that it should be.Read More
While it seems like an awkward term, a US person is a designation used by the Internal Revenue Service (IRS) to identify who must file taxes in this country.Read More
You or your company might underreport your income a little. Maybe you don’t reveal all of your foreign holdings on your FBAR. Or, maybe you cooked up a scam over a few years that finds you claiming deductions you have no hope of being able to...Read More
The Panama Papers leak has yielded its first criminal indictment in the United States.
Taking a fresh swipe at transnational tax crime, the Joint Chiefs of Global Tax Enforcement (J5) recently announced a crackdown on enablers of global tax fraud and the inappropriate use of cryptocurrencies.Read More
Concealing assets and value in foreign bank accounts during divorce can lead to an IRS criminal tax investigation.
For high wealth individuals and couples, the use of offshore tax havens is common. When done legally, placing wealth in offshore...Read More