the Foreign Account Tax Compliance Act, FATCA
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FATCA, Transparency Efforts Curb Offshore Tax Evasion

Everyone's Getting FATCA Compliant The worldwide landscape of transparency is changing as the United States works with other nations to increase information sharing around the world. Work to implement Foreign Account Tax Compliance Act (FATCA)…
tax evasion offshore accounts
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Global Tax Transparency Rises as FATCA, OECD Initiatives Gain Momentum

As the growth of global tax transparency rises, individual taxpayers and financial institutions must exercise new levels of caution. With more than 100 intergovernmental agreements (IGA) under the Foreign Account Tax Compliance Act (FATCA)…
Tax case solution
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IRS Clarifies Rules on FATCA Announcement

In a Dec. 1 2014 update, the Internal Revenue Service (“IRS”) stated that jurisdictions can continue to be treated as though they have an intergovernmental agreement (“IGA”) after Dec. 31, 2014, as long as the Treasury Department determines…
Folder tabs with focus on offshore account tab. Business concept image for illustration of tax evasion.
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FBAR Failure Leads Connecticut Executive to Plead Guilty to $8.4 Million Tax Evasion

Prosecutors announced Jan. 20 that a Connecticut business executive has pleaded guilty to willfully failing to report offshore bank accounts to the IRS. As part of his plea, which was entered Jan. 16 2015 before Magistrate Judge Debra Freeman…
OVDP Lawyer
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OVDP Lawyer — Protect Yourself Against OVDP Crackdown by the IRS

About The Offshore Voluntary Disclosure Program (OVDP) US citizens and residents are required to report foreign accounts and assets by filing an FBAR and other tax documents. Often, our clients are surprised to learn about the degree of…
Secret Foreign Bank Accounts
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Secret Foreign Bank Accounts Are Not Secret Anymore…

Secret Foreign Bank Accounts Secret foreign bank accounts have been at the center of money laundering. This is especially with reference to offshore bank accounts.  It is very common for people to hide money in secret foreign bank accounts…
The Foreign Bank Account Report (FBAR) can be submitted with the advice of a tax law attorney.
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United States vs Simon in Failure to file FBARs

Failure to file FBARs as a Signatory Authority Failure to file FBARs as a Signatory Authority to a foreign bank account is an offense punishable by law according the to the Bank Secrecy Act.  The U.S. Court of Appeals for the Seventh Circuit…
fatca foreign account tax compliance act. tax law attorney
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IRS modifications to OVDP and streamlined procedures a Relief to offshore bank account holders

IRS modifications to OVDP and streamlined procedures The Offshore Voluntary Compliance Program Internal Revenue Service's major revisions in its Offshore Voluntary Compliance Program may just be the light at the end of the tunnel for tax payers…