by Igor Drabkin | Apr 25, 2017 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
Three Orange County, California residents were sentenced to prison today for willfully failing to file Foreign Bank Account Reports (FBAR), disclosing their secret accounts in Switzerland and Israel.
by Igor Drabkin | Nov 2, 2016 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
According to the new data, 55,800 taxpayers have come into the Offshore Voluntary Disclosure Program (OVDP) to resolve their tax obligations, paying more than $9.9 billion in taxes, interest and penalties since 2009.
by Igor Drabkin | Mar 8, 2016 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
Showing that the IRS fight against secret offshore bank accounts is truly global, the Department of Justice and the Internal Revenue Service are trying to force a Singapore bank to disclose its information about an account held by a U.S. citizen residing in China.
by Igor Drabkin | Nov 3, 2015 | FBAR, Internal Revenue Service, Offshore Income
In order to effectively implement FATCA requirements, the United States have worked with foreign governments to develop two types of Intergovernmental Agreements (IGAs).
by Igor Drabkin | Oct 19, 2015 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
On October 16, 2015, right after the 2014 tax filing season had completed, the Internal Revenue Service issued a report on the Offshore Voluntary Disclosure Procedures, urging the taxpayers with still undisclosed foreign accounts to come forward, or face serious consequences. The report also provided latest statistics on the Offshore Disclosure Program.
by Igor Drabkin | Sep 24, 2015 | FBAR, Offshore Income
IRS Searches for U.S. Taxpayers With Secret Accounts at Belize Banks