Tax Law Blog

Above a certain threshold, assets held in offshore or foreign bank accounts must be reported to the Internal Revenue Service (IRS). The Report of Foreign Bank Account and Financial Accounts (FBAR) is reported each year through the Financial Crimes...

Tax evasion has tripped up former Real Madrid soccer coach Carlo Ancelotti.

Foreign bank accounts, offshore accounts and shell companies have long been part of legitimate asset protection and tax planning strategies. In recent years, however, evolving global transparency initiatives have reshaped what those arrangements...

The longtime effort to develop a global minimum tax rate hit a big snag when U.S. legislators recently proposed a “revenge tax” on investors from countries that apply such a tax to U.S. companies.

A recent study takes a fascinating look at what drives high-asset individuals to invest in offshore accounts.

After being rescued two years ago by competitor the Union Bank of Switzerland (UBS), Credit Suisse is making headlines again for the same transactional behavior that saw the Zurich-based bank stumble into disrepute in the first place.

For most mistakes, minor infractions, or errors, the Internal Revenue Service (IRS) will assess a penalty with interest. If the IRS believes a tax crime was committed, the outcome could be different.

Considering a foreign bank account? It pays to know where your money might be going.

In late December, a federal court judge authorized a summons from the Internal Revenue Service (IRS) requiring businesses associated with Trident Trust Group to produce information regarding foreign bank accounts and offshore tax havens used by U.S....

Years after the stunning revelations fueled by the Panama Papers, Nordea Bank was charged by Danish authorities with involvement in $3.7 billion in questionable transactions. Stateside, Nordea recently settled allegations by New York authorities...