IRS Extends Due Date for Filing Some FBARs
IRS extends due date for filing some FBARs
The IRS issued a new notice, Notice 2009-62, 2009-35 IRB, which extends the due date for filing Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts (FBAR)) in certain cases.
The extension applies only to the following individuals:
(i) persons with signature authority over, but no financial interest in, a foreign financial account, and
(ii) persons with a financial interest in, or signature authority over, a foreign commingled fund.
New Development in Offshore Tax Enforcement — UBS and Justice Department Agree on Major Issues
The United States government has been pressing UBS AG, one of the Switzerland’s largest banks, to release the names of a reported 52,000 wealthy Americans with accounts at the bank. Federal authorities suspect that some U.S. taxpayers may be using accounts at UBS to...
UBS Client Pleads Guilty to Filing False Tax Returns for Failure to Report Swiss Bank Accounts
Offshore Tax Evasion by UBS Client