201812.09
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Is it Illegal to Purchase Offshore Assets or Move Money Overseas?

Is it Illegal to Purchase Offshore Assets or Move Money Overseas? The word “offshore” usually conjures up an image of yourself sitting across from a well-dressed banker in Switzerland. On your lap sits a suitcase filled with cash (of legally withdrawn money) that you traveled with to UBS (because you’ve seen way too many spy movies). As…

201812.03
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Swiss Bankers Get Probation…After Cooperating with US Prosecutors

Swiss Bankers Get Probation…After Cooperating with US Prosecutors In a recent case (11/2018), a Manhattan Federal Court Judge sentenced two Swiss Bankers that defrauded the IRS with probation. While that’s great for them…how many names did they have to give up to the IRS? Your Swiss Accounts are Neither Confidential Nor Secret Sure, maybe 30-years…

201811.27
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Pre-IRS Disclosure Offshore/Foreign Penalties are on the Rise

Pre-IRS Disclosure Offshore/Foreign Penalties are on the Rise A few months back, the Internal Revenue Service (IRS) made good on its promise to discontinue the Offshore Voluntary Disclosure Program (OVDP). Even though the IRS has ended the OVDP program there are still other voluntary disclosure/amnesty programs that a person can use in order to get into IRS…

201811.18
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Foreign Bank Wants You To Sign a FATCA Non-Compliance Statement?

Foreign Bank Wants You To Sign a FATCA Non-Compliance Statement? Unfortunately, the enforcement of FATCA, coupled with the inherent fear that many Foreign Financial Institutions have about being out of compliance with U.S. FATCA Reporting laws has left many U.S. Account Holders in jeopardy with the IRS. Some of these foreign banks and investment firms are…