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Archive by Month: December 2014

Global Crackdown on Tax Evasion Underway

Offshore Account Update

Posted on December 19, 2014

Within the United States, 38,000 U.S. citizens have voluntarily come forward to report to the Internal Revenue Service that they had undeclared offshore financial accounts. All U.S. citizens must declare any foreign accounts to the IRS and must pay all taxes that are due on those accounts, as well as on any income earned.  Those who have come forward have paid more than $5.5 billion in back taxes.


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Banks Under Investigation By U.S. Authorities

Articles/News, Offshore Account Update

Posted on December 12, 2014

The second largest bank in Israel, Bank Leumi, faces millions of dollars in potential penalties as part of a probe into whether the bank helped U.S. investors hide money and avoid paying the full amount of income taxes due to the United States government.

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