by Igor Drabkin | Mar 3, 2015 | FBAR, Firm News, Internal Revenue Service, Offshore Income
Igor Drabkin’s article “International Reporting Penalties — What to Expect and How to Fight Them” was published in the January 2015 edition of the CCH Journal of Tax Practice and Procedure.
by Igor Drabkin | Jan 14, 2015 | FBAR, Internal Revenue Service, Offshore Income
On January 30, 2014, the Internal Revenue Service updated its list of Foreign Financial Institutions or Facilitators, whose clients meet criteria for a 50% Penalty in the Offshore Voluntary Disclosure Program (OVDP).
by Igor Drabkin | Nov 4, 2014 | Criminal Tax, Internal Revenue Service, Offshore Income
Raoul Weil, a former UBS AG banker, who headed their global wealth management group, was found not guilty yesterday by the federal jury in Fort Lauderdale, Florida.
by Igor Drabkin | Aug 6, 2014 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
Another victory for the government in their fight against hidden offshore accounts was announced today in Los Angeles.
by Igor Drabkin | Jun 26, 2014 | Criminal Tax, FBAR, Internal Revenue Service, Offshore Income
IRS Announces Major Changes to Offshore Voluntary Disclosure Program
by Igor Drabkin | Jun 2, 2014 | FBAR, Internal Revenue Service, Offshore Income, Tax Collection
In the case of USA v. Carl Zwerner, the jury found that willful FBAR penalties of 50% of the account value applied to multiple years, thus, making the aggregate FBAR penalty equal to 150% of the account balance.