by Igor Drabkin | Jan 3, 2012 | FBAR, Internal Revenue Service, Offshore Income
On January 3, 2012, the U.S. Attorney’s Office for the Southern District of New York charged three Swiss bankers with hiding more than $1.2 billion in U.S. taxpayer accounts from the IRS. The announcement was made by Preet Bharar, the Manhattan U.S. Attorney.... 
by Igor Drabkin | Dec 19, 2011 | FBAR, Internal Revenue Service, Offshore Income
According to the statements made by various IRS officials at a recent American Bar Association conference, the IRS has put in place a program aimed at auditing taxpayers who did a so called “quiet disclosure”. This program will target those who chose not... 
by Igor Drabkin | Dec 9, 2011 | FBAR, Internal Revenue Service, Offshore Income
The Internal Revenue Service released details of its plan to show some leniency on the penalties for failure to file tax returns and Foreign Bank Account Reports for the American citizens living abroad. Following the comments made last week by the U.S. Ambassador to... 
by Igor Drabkin | Nov 9, 2011 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
As reported by Reuters and many other news agencies, Credit Suisse AG, the second largest bank of Switzerland, has notified some of its U.S. clients that it will disclose their identities and account details to the Internal Revenue Service. In a letter dated November... 
by Igor Drabkin | Nov 4, 2011 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
As posted by several new sources yesterday, this Swiss government has apparently proposed a multibillion-dollar settlement with the U.S. in response to the allegations that it helped American taxpayers avoid billions of dollars in U.S. taxes. The proposed civil...