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Category: UBS / HSBC - Page 4

Offshore Account Investigations: Just the Beginning for HSBC Clients

Offshore Account Update, UBS / HSBC

Posted on June 20, 2011

U.S. citizen and New York resident, Josephine Bhasin, pled guilty to charges of willingly filing false tax returns, false amended tax returns, and false FBARs in relation to an undisclosed offshore account she held with HSBC. Ms. Bhasin will receive a maximum sentence of 3 years in jail and a maximum fine of $250,000. These criminal penalties are in addition to civil penalties, which Ms. Bhasin has agreed to; the arrangement includes a civil penalty of 50% of the high year on the account during 2004 to 2009.

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HSBC: Undisclosed Account Holders Next on DOJ Radar!

IRS Office of Professional Responsibility, UBS / HSBC

Posted on June 10, 2011

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.

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Another UBS Account Holder Pleads Guilty


Posted on June 1, 2011

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.

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