by Igor Drabkin | Apr 30, 2014 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
According to numerous sources, the Swiss units of Goldman Sachs and Morgan Stanley are among more than 100 Swiss banks and financial institutions, participating in the Department of Justice amnesty program, which provides non-prosecution agreements to the banks in... 
by Igor Drabkin | Dec 17, 2013 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
On August 29, 2013, the U.S. Department of Justice and the Swiss Federal Department of Finance issued a joint statement, announcing a Program for Swiss Banks, which encouraged the banks to come clean in exchange for a Non-Prosecution Agreement by the U.S. government. ... 
by Igor Drabkin | Oct 29, 2013 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
In the most recent case of government’s crackdown on offshore tax evasion, a Florida psychiatrist, who together with her husband founded two Caribbean medical schools, was found guilty of conspiring to defraud the Internal Revenue Service and filing false tax... 
by Igor Drabkin | Sep 19, 2013 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
On September 18, 2013, the Department of Justice announced that Ty Warner, creator of Beanie Babies, was charged with federal tax evasion for allegedly failing to report income he earned in a secret offshore financial account he held with UBS in Switzerland. Warner... 
by Igor Drabkin | Jun 18, 2013 | FBAR, Internal Revenue Service, Offshore Income
Holtz, Slavett & Drabkin would like to remind that U.S. Taxpayers who have financial interest in, or signature authority over, foreign financial accounts, must file their FBARs by June 30, 2013. Under the requirements of the Banking Secrecy Act, 31 CFR 103.24,... 
by Igor Drabkin | May 6, 2013 | FBAR, Internal Revenue Service, Offshore Income
The Internal Revenue Service and the U.S. Department of Justice are expanding their investigation of offshore tax cheats to the Caribbean. Last week, a federal district court in California has authorized service of a “John Doe: summons for the records of U.S....