News & Analysis as of

Tax Evasion Offshore Banks Income Taxes

Foodman CPAs & Advisors

FBAR Penalties: Is it per Account or per Violation?

U.S. Taxpayers (includes a citizen, permanent resident, corporation, partnership, limited liability company, trust and estate) are required to file a Report of Foreign Bank and Financial Accounts (FBAR) if they have...more

Foodman CPAs & Advisors

IRS: Las Cuentas Financieras “Offshore” NO pasarán Inadvertidas

El 15 de marzo del 2019, el IRS informó que la ocultación de dinero o activos en cuentas extraterritoriales (“offshore”) no declaradas permanece en la lista de las estafas tributarias conocidas come la Docena Sucia o "Dirty...more

Foodman CPAs & Advisors

IRS: Offshore Financial Accounts will NOT go Unnoticed

On March 15, 2019, IRS reported that hiding money or assets in unreported offshore accounts remains on the Internal Revenue Service’s “Dirty Dozen” list of tax scams for 2019....more

Burr & Forman

IRS Announces End to Foreign Bank Account Disclosure Program: What Can You Do Now If You Still Have Unreported Foreign Bank...

Burr & Forman on

The IRS recently announced it will be shutting down its successful Offshore Voluntary Disclosure Program (OVDP) for unreported foreign bank accounts and income. The program will end September 28, 2018. Under the OVDP, first...more

Foodman CPAs & Advisors

The Accountant and the Paradise Papers

Foodman CPAs & Advisors on

Under U.S. Tax Law, it is appropriate for an Accountant to advise a US Taxpayer regarding his tax efficiency if the Taxpayer wants to pay less tax and accumulate wealth. While tax avoidance is legal and encouraged by the...more

Holland & Knight LLP

Senate Hearing Takes Aim on Offshore Tax Evasion

Holland & Knight LLP on

Today, February 26, 2014, the Senate Permanent Subcommittee on Investigations will hold a hearing on offshore tax evasion titled “Offshore Tax Evasion: The Effort to Collect Unpaid Taxes on Billions in Hidden Offshore...more

Holland & Knight LLP

FBAR E-Filing and Signature Authority: What You Need to Know

Holland & Knight LLP on

Much has been written about the IRS's dogged pursuit of taxpayers with unreported foreign accounts. These accounts are reported on the Report of Foreign Bank and Financial Accounts (FBAR) when a taxpayer has a financial...more

BakerHostetler

Arizona Businessmen Receive Lenient Sentences For Stashing Millions in Secret Swiss Accounts

BakerHostetler on

Bloomberg BNA is reporting that two prominent Phoenix businessmen were each sentenced to 10 months in prison for their roles in a scheme to stash more than $8 million in secret offshore Swiss bank accounts and for not...more

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