Boston Tax and IRS Voluntary Disclosure Lawyer Blog

However U.S. authorities continue to aggressively pursue foreign banks allegedly aiding U.S. taxpayers to commit tax fraud.

Any U.S. client who maintains an undisclosed offshore bank account through LLB will have their information turned over to U.S. authorities.

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Supplemental information to the current 2012 IRS Voluntary Disclosure Program to be released.

The release of such information will likely contribute to establishing cases against those U.S. taxpayers currently under investigation.

Lothar Hoess sentenced to three years of probation after pleading guilty to a single charge of failure to file a report of foreign bank account and financial accounts.

Credit Suisse advising their U.S. clients to hire a tax controversy lawyer and enter into the IRS’s 2012 Voluntary Disclosure Program in order to avoid potential criminal investigation.

Wegelin & Co. officials fail to appear at a Manhattan court hearing on February 11, 2012!

Total of 11 banks are expected to pay heavy fines!

Three more banks are still expected to turn over client data for a total of 11 banks!

Three more banks anticipated to turn over client data for a total of 11 banks expected to pay heavy fines!

Eight Swiss banks turn over U.S. client data on taxpayers suspected of tax evasion!

Offshore Voluntary Disclosure Program (OVDP) reopened by IRS to encourage U.S. taxpayers with undisclosed offshore accounts to come into compliance!

Grand jury returns indictments against three client advisers whom were employed under Swiss private bank Wegelin and Co.

U.S. clients of Credit Suisse with undisclosed offshore accounts are being notified that the bank intends to turn-over client data to the IRS.

Multibillion-dollar settlement to U.S. authorities proposed by Swiss government.

European banks to pay billions to the United States and disclose U.S. clients’ names to the Internal Revenue Service (IRS) and the Department of Justice (DOJ).

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Could give U.S. agencies evidence to open criminal investigations against U.S. taxpayers with undisclosed offshore banks accounts.

U.S. authorities charge another India-American for evading taxes through the HSBC India branch.

DOJ rumored to have strong evidence against the banks in regards to conduct and/or information concerning taxpayers with undisclosed offshore accounts.

But Taxpayers with Undisclosed Offshore Accounts can still come forward and limit their civil and criminal exposure!

Offshore Voluntary Disclosure Initiative (OVDI) deadline for entering the “amnesty” program is Friday, September 9, 2011!

Hurricane Irene to impact due date!

Last chance for U.S. taxpayers with undisclosed offshore accounts to benefit from pre-determined penalties and reduced criminal exposure!

Indian Americans with undisclosed offshore accounts urged to come forward through the 2011 IRS Amnesty program before August 31, 2011.

Time running out for Credit Suisse undisclosed account holders!

 HSBC India taking preventative action in order to limit current investigations by U.S. authorities.

Credit Suisse latest bank to receive a formal letter from the U.S. Department of Justice for improper offshore banking practices.

Time running out for HSBC clients with non-compliant accounts.

Agrees to pay a fine of around $9.8 million!

Undisclosed Swiss bank account at UBS revealed.

More Swiss Banks to consider revealing Undisclosed Account Holders. Amnesty Program offers a solution!

Crackdown continues for HSBC undisclosed foreign bank accounts..

False tax returns, false amended tax returns, and false FBARs charged against HSBC account holder. Beware!

IRS launched a second amnesty initiative for U.S. taxpayers on Feb. 8, 2011 for undisclosed offshore accounts.

On April 7, 2011, judge signs Order giving the Internal Revenue Service the right to serve a summons on HSBC USA.  The summons would provide the government with the identity of current taxpayers whose accounts are already in question.

An undisclosed offshore account holder with Swiss bank UBS, Arthur Joel Eisenberg, pled guilty in a federal court in Seattle, Washington. He paid a $2.1 million penalty for failing to file a FBAR; in addition to incarceration and future probation.