Tax Law Blog

The grip the Internal Revenue Service has on foreign banks continues to strengthen. More evidence of that was supplied by Switzerland's announcement that it is going to disclose account information from HSBC Holdings Plc to the IRS.

The pressure put on taxpayers with foreign holding by the Internal Revenue Service appears to be paying off. The federal agency recently reported that foreign back account report filings rose more than 8 percent last year, passing the 1 million mark.

In the middle of heated presidential campaigns, people will sometimes vow to move out of the country if Candidate X or Candidate Y is elected. Most of these pledges are never carried out, but for those who are sincere about leaving the United States...

Accusations, insults and allegations are hurled back and forth between political parties during this heated election season. So it is nice to see politicians take a breather and pause, if only briefly, to agree on something.

Rowen Seibel is probably not a household name, unless your household is fascinated by the exploits of reality TV's culinary icon Gordon Ramsay. He and Seibel are suing each other disagreements in their partnership in several restaurants.

If you have an interest in or authority over a foreign bank account, trust, mutual fund or brokerage account that has more than $10,000 in it, you are required to file a Report of Foreign Bank and Financial Accounts (FBAR) with the Internal Revenue...

The Wall Street Journal notes that there are many legitimate reasons for Americans to put some of their assets into offshore accounts, including protection of those assets, privacy concerns and tax savings. However, offshore accounts come with...

Last year, more than a million taxpayers filed a Report of Foreign Bank and Financial Accounts (FBAR). It should be noted that this year's deadline for filing a FBAR comes up on June 30.

Muhammad Ali’s upset of Sonny Liston in the heavyweight boxing championship was one of the most memorable sporting events of the 20^th century. After the bout, Ali shouted that he “shook up the world.” He was right.

On April 3, journalists revealed blockbuster evidence that dozens of world leaders, public figures, celebrities and billionaires may have hidden assets offshore with the help of a Panamanian law firm called Mossack Fonseca and a network of big banks...