by Igor Drabkin | Sep 19, 2013 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
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 ranks as # 209 on the Forbes list of richest Americans.
by Igor Drabkin | Mar 7, 2013 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
IRS Rescinds Amnesty Approval for Bank Leumi Clients
by Igor Drabkin | Jan 31, 2013 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
Court Allows IRS to Serve Summons on UBS Seeking Data on Wegelin Customers
by Igor Drabkin | Jan 4, 2013 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
Wegelin & Co, the oldest Swiss private bank, will shut down permanently after more than 250 years of operations, following its guilty plea to U.S. charges of helping Americans to evade taxes through secret accounts.
by Igor Drabkin | Jun 19, 2012 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
Tax Preparers Indicted for Tax Fraud Using Israeli Bank Accounts
by Igor Drabkin | Apr 30, 2012 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
This case is another example of the government’s efforts to crack down on the offshore tax evasion and enforce FBAR rules. Although not every case where a foreign bank account was not properly reported bears a high risk of criminal prosecution, those type of situations are very sensitive and taxpayers with undeclared foreign bank accounts are encouraged to consult tax attorneys in order to evaluate their options.