Switzerland’s Federal Administrative Court ruled that the tax office cannot release Credit Suisse bank data to the Internal Revenue Service (IRS). The IRS requested administrative…
The Internal Revenue Service (IRS) is expanding its “Fresh Start” initiative to help the unemployed and struggling taxpayers. Under the program, new penalty relief options…
The Treasury Department and the Internal Revenue Service (IRS) have issued proposed regulations for the next major phase of implementing the Foreign Account Tax Compliance…
At a meeting with European Union officials last week, the U.S. proposed changes to the Foreign Account Tax Compliance Act (Facta). Proposed changes are aimed at…
The Internal Revenue Service has persuaded U.S. taxpayers to disclose hidden offshore bank accounts but then sometimes failed to cap the penalties, as promised, an…
According to the SonntagsZeitung and World Radio Switzerland 11 Swiss banks have until Tuesday, December 20, 2011 to agree to deliver detailed information about their…
For the second time in the past two years, a Swiss bank has handed over client records to the IRS. Rupert Neate reports in the…
The 2011 Offshore Voluntary Disclosure Initiative (“OVDI”) is different in several ways from the 2009 Offshore Voluntary Disclosure Program (“OVDP”). The deadline to apply to…
The IRS spokesman Frank Kieth recently said that the IRS would soon announced a second Offshore Voluntary Compliance Program for taxpayers who have unreported foreign…
Earlier this week, former Swiss banker Rudolf Elmer gave Wikileaks documents that allegedly detail tax evasion by 2,000 high net worth individuals and corporations. Mr.…