201903.29
0

FATCA & FBAR Conviction – Risk of Using CPAs in Offshore Disclosure

FATCA & FBAR Conviction – Risk of Using CPAs in Offshore Disclosure Paul Manafort (President Trump’s former Campaign Manager) was recently convicted of many different crimes relating to the non-disclosure of offshore accounts. The main problem was that Manafort: Kept the foreign accounts secret; He did not disclose them to the IRS; and He used…

201903.18
0

Deferred Prosecution Agreements, Offshore Disclosure & Dual-Citizens

Deferred Prosecution Agreements, Offshore Disclosure & Dual-Citizens Deferred Prosecutions Are Dangerous to Offshore Voluntary Disclosure When a person submits to U.S. Offshore Voluntary Disclosure, it is important that they are properly counseled on the impact of a disclosure, and how it may impact their exposure — both in the U.S. and abroad. Offshore Disclosures are…

201903.15
1

Israeli Bank Gets Penalized $195M DOJ Offshore Tax Fraud Penalty

Israeli Bank Gets Penalized $195M DOJ Offshore Tax Fraud Penalty The U.S. DOJ deferred prosecution agreements are starting to really bear fruit.  Recently, Mizrahi-Tefahot Bank Ltd., agreed to a penalty in the amount of $195M. Common Questions What was the Scam?  What is a Hold-Mail Agreement? What is a Deferred Prosecution Agreement? Deferred Prosecution Agreement?…

201903.14
0

Beware of IRS Special Agents Asking About Offshore Bank Accounts

Beware of IRS Special Agents Asking About Offshore Bank Accounts IRS special agents are a sneaky bunch. The agents move pretty stealthily through the pre-investigation face in order to compile enough information to determine whether or not they want to further investigate and “interview” you.   This may mean interviewing your Bank, CPA, or other…