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.
Reminder: Deadline to File 2012 Foreign Bank Account Reports (FBAR) is June 30, 2013
GAO Report: IRS Collects $5.5 Billion from Offshore Disclosure Program, May be Missing More Tax Evasion
Court Allows IRS to Serve Summons on UBS Seeking Data on Wegelin Customers
The 2012 National Taxpayer Advocate’s Annual Report to Congress criticized current IRS practices in the Offshore Voluntary Disclosure…