by Igor Drabkin | Aug 26, 2009 | FBAR, Offshore Income
On August 19, 2009, the IRS and UBS AG, one of the major Swiss banks, announced the terms of the settlement reached in a “John Doe” summons enforcement case brought by the U.S. Government to reveal the names of American account holders of UBS Swiss... 
by Igor Drabkin | Aug 4, 2009 | FBAR, Internal Revenue Service, Offshore Income
The United States government has been pressing UBS AG, one of the Switzerland’s largest banks, to release the names of a reported 52,000 wealthy Americans with accounts at the bank. Federal authorities suspect that some U.S. taxpayers may be using accounts at UBS to... 
by Gary Slavett | Jul 29, 2009 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
July 28, 2009 – The U.S. Department of Justice and the IRS announced today that Jeffrey P. Chernick, of Stanfordville, N.Y., pleaded guilty to charges of filing a false tax return. Chernick, who owns a corporation which represents toy manufacturers in China and... 
by Gary Slavett | Jul 7, 2009 | Internal Revenue Service, Offshore Income
March 26, 2009 My goal has always been clear — to get those taxpayers hiding assets offshore back into the system. We recently provided guidance to our examination personnel who are addressing voluntary disclosure requests involving unreported offshore income. We...