News & Analysis as of

Tax Avoidance Offshore Funds

Foodman CPAs & Advisors

Estrategias Y Esquemas Tributarios Para Evitar Impuestos A La Vanguardia Del IRS

El 11/04/24, el IRS concluyó su Lista de la Docena Sucia de 2024 con una “advertencia a los contribuyentes sobre los promotores que venden estrategias fiscales falsas y esquemas extraterritoriales fraudulentos diseñados para...more

Foodman CPAs & Advisors

Tax Strategies And Schemes To Avoid Taxes At IRS Forefront

On 4/11/24, the IRS wrapped up its 2024 Dirty Dozen List with a “warning to taxpayers regarding promoters selling bogus tax strategies and fraudulent offshore schemes designed to reduce or avoid taxes altogether”. Tax...more

Allen Barron, Inc.

What is the IRS Offshore Voluntary Disclosure Program?

Allen Barron, Inc. on

What is the IRS Offshore Voluntary Disclosure Program and who is it designed to help? What are the guidelines for voluntary disclosure to the IRS and who is eligible to apply? The IRS Offshore Voluntary Disclosure...more

Foodman CPAs & Advisors

Dirty Dozen 2023

On April 5, 2023, the IRS wrapped up its Dirty Dozen 2023 list – earlier than the release of the Dirty Dozen 2022 list which was published on June 10, 2022. According to the IRS, the Dirty Dozen represents the worst of the...more

Foodman CPAs & Advisors

El IRS Advierte A Los Contribuyentes Contra Las Estrategias De Evasión Fiscal

El IRS concluyó su lista de Estafas de la Docena Sucia (“Dirty Dozen”) del 2022 recomendando a los contribuyentes a estar atentos y evitar ser engañados por las estrategias de evasión fiscal....more

Freeman Law

IRS Gets Green Light to Seek Information from Third Parties Regarding Panama Offshore Legal Services

Freeman Law on

On July 29, 2021, the United States Attorney for the Southern District of New York, the Assistant Attorney General for the Department of Justice Tax Division, and the IRS Commissioner all announced that a federal court in New...more

Proskauer - Tax Talks

Cayman Islands removed from the EU blacklist of non-cooperative jurisdictions for tax purposes

Proskauer - Tax Talks on

The European Council has announced its decision to remove the Cayman Islands from the EU list of non-cooperative jurisdictions for tax purposes. In February we reported on Cayman’s inclusion on the list and our expectation...more

Proskauer - Tax Talks

Cayman Islands added to the EU blacklist of non-cooperative jurisdictions for tax purposes

Proskauer - Tax Talks on

On 18 February 2020, the ECOFIN committee of finance ministers of the EU resolved to add the Cayman Islands to the EU blacklist of non-cooperative jurisdictions for tax purposes. Their reasoning was short...more

Ballard Spahr LLP

United States “Beats” Switzerland as a Perceived Global Haven for Money Laundering and Tax Evasion

Ballard Spahr LLP on

The Cayman Islands Receive “Top Honors.”  But, Global Financial Transparency is Reportedly Improving in General - The United States has overtaken Switzerland as a financial secrecy haven, according to the latest rankings –...more

Morgan Lewis

EU Adds Cayman Islands to Tax 'Blacklist'

Morgan Lewis on

The European Union has updated its list of non-cooperative tax jurisdictions to include the Cayman Islands. This addition could have certain repercussions for fund managers, sponsors, and investors operating through the...more

ArentFox Schiff

Investigations Newsletter: Ten Former NFL Players Charged with Defrauding League's Health Care Benefits Plan

ArentFox Schiff on

Ten Former NFL Players Charged with Defrauding League's Health Care Benefits Plan - On December 12, the DOJ unsealed two indictments charging ten retired NFL players with defrauding the league's retiree health care...more

Proskauer Rose LLP

UK Tax Round Up - August 2019

Proskauer Rose LLP on

UK Case Law Developments - Valid notice crucial to tax indemnity claim - The Court of Appeal (CA) decision in Stobart Group Ltd v Stobart and another is a cautionary tale for any purchaser who, following the...more

BCLP

House Of Commons Treasury Committee Report on tax disputes

BCLP on

A notable feature of the UK tax landscape is the ever-increasing powers available to the UK tax authority, HM Revenue & Customs (“HMRC”), to challenge all forms of tax non-compliance. However, questions have arisen in recent...more

Ballard Spahr LLP

Money Laundering Watchdog Criticizes Lax AML Enforcement and “Creative Compliance” in Wake of Panama Papers

Ballard Spahr LLP on

PANA Issues Recommendations to European Parliament: Tougher Enforcement, Greater Transparency, Improved Information Sharing and Prohibitions Against Outsourcing of Customer Due Diligence....more

Sheppard Mullin Richter & Hampton LLP

In Wake of Panama Papers Scandal Obama Calls for Stricter Bank Regulations, Tax Rules

In a news conference May 6, President Obama addressed recently announced rules and proposed regulations intended to help the U.S. fight tax evasion and other crimes connected to anonymous offshore companies and accounts. The...more

Sheppard Mullin Richter & Hampton LLP

In Wake of Panama Papers Scandal Obama Calls for Stricter Bank Regulations, Tax Rules

In a recent news conference President Obama addressed rules and proposed regulations announced Thursday intended to help the U.S. fight tax evasion and other crimes connected to anonymous offshore companies and accounts. The...more

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