Internal Revenue Service UBS

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
News & Analysis as of

IRS Announces Changes to the Offshore Voluntary Disclosure Program

As you may have read, the Internal Revenue Service (“IRS”) recently announced changes to its offshore voluntary disclosure programs and announced new options for taxpayers to come into compliance with their U.S. tax...more

International Tax Compliance Update: IRS to Issue ”John Doe” Summonses Seeking Information Regarding U.S. Taxpayers with...

On November 7, 2013, United States District Judge Kimba M. Wood of the Southern District of New York, granted authorization to the IRS to issue John Doe summonses to Bank of New York Mellon and Citibank requiring those banks...more

Tax Law Blog: Tax Evasion Charges for Ty Beanie Babies Creator

I have to think most people at least know what a "Beanie Baby" is, and some of you may still have them in your homes (someday they will be collector items, right?). This morning, Ty Warner, the creator of Beanie Babies, was...more

Tax Compliance Update: IRS Aggressively Pursues Foreign Banks; Offshore Voluntary Disclosure Program to Remain Open Indefinitely

In our most recent discussion of the IRS’s Offshore Enforcement Initiatives, we discussed the John Doe Summons recently issued by the U.S. Department of Justice to Wells Fargo seeking information about First Caribbean...more

As Foreign Banks May Disclose U.S. Depositors, Foreign Account Holders Should Consider IRS OVDI Program

In December, Bank Leumi le-Israel BM issued a letter notifying its U.S. account holders about the IRS Offshore Voluntary Disclosure Initiative (the OVDI). The IRS OVDI is a type of amnesty program under which U.S. citizens...more

$104 Million Awarded to UBS Whistleblower

On September 11, 2012, the National Whistleblowers Center announced that UBS whistleblower, Bradley Birkenfeld, was awarded $104 Million by the Internal Revenue Service (‘IRS”) as payment for insider information he provided...more

Would $104 Million IRS Whistleblower Get Stiffed Under Dodd-Frank?

The recent announcement that the IRS granted a $104 million whistleblower award to convicted former UBS banker Bradley Birkenfeld generated front-page news coverage. Birkenfeld, the U.S.-bred former private banker who...more

Whistleblower Attorney Steve Berman Comments on Record IRS Whistleblower Award

Steve Berman, managing partner at Hagens Berman, a nationwide whistleblower protection law firm, today lauded an award the Internal Revenue made to former Swiss banker Bradley Birkenfeld for providing information on tax...more

U.S. Response to Unreported Offshore Income and Assets of U.S. Taxpayers

Since the G-20 meeting on April 2, 2009, there has been a worldwide emphasis on the elimination of bank secrecy through the implementation of tax information exchange agreements ("TIEA") with countries or jurisdictions that...more

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