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.
The United States and Ireland have reached an anti-tax evasion pact to share information about wealthy citizens’ financial accounts.
The IRS has issued instructions and a questionnaire to be used by eligible non-resident U.S. taxpayers who want to catch up on past-due filing requirements under new streamlined filing procedure that took effect on September 1, 2012.
The IRS recently released new Frequently Asked Questions (FAQs) for the 2012 Offshore Voluntary Disclosure Program (OVDP).
On June 26, 2012, the IRS made an Announcement IR-2012-65, rolling out the newest program in a plan to help US citizens residing overseas, as well as dual citizens, to catch up with their US tax filing obligations and provide assistance for people with foreign retirement plan issues. T