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If you've secretly been holding money offshore and haven't reported it on your taxes, you must do so by Thursday, Oct. 15. That's when the IRS ends its current tax amnesty program, so if you wait ...
If you've been hiding funds in offshore accounts, you now have until Oct. 15 to apply to the IRS for amnesty and avoid stiffer penalties. That's an additional 22 days from the original deadline of ...
A Senate report released Wednesday on a form of tax evasion was highly critical of the IRS for the way it handles foreign bank registration as part of the laws that govern how U.S. citizens and ...
The IRS Criminal Investigation Division has had a longstanding practice of granting tax amnesty to taxpayers who have committed tax crimes, usually tax evasion. Following World War II , it was the administrative policy of the Internal Revenue Service to provide amnesty from criminal prosecution to taxpayers who voluntarily disclosed their ...
Warner had been convicted of illegally hiding $106 million in offshore accounts, which was revealed when he tried to take advantage of the IRS tax amnesty that was offered in the wake of the 2008-10 UBS tax scandal. The lawyers cited Olenicoff for getting off without a jail sentence when he was sentenced for tax evasion via offshore accounts. [18]
UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
USA - Financial Secrecy Index (published by the Tax Justice Network) Tax Havens and Abusive Tax Schemes (published by the Permanent Subcommittee on Investigations) Further reading. Kasperkevic, Jana (April 6, 2016). "Forget Panama: it's easier to hide your money in the US than almost anywhere". The Guardian. Cotorceanu, Peter (April 8, 2016).
The Foreign Account Tax Compliance Act (FATCA) is a 2010 U.S. federal law requiring all non-U.S. foreign financial institutions (FFIs) to search their records for customers with indicia of a connection to the U.S., including indications in records of birth or prior residency in the U.S., or the like, and to report such assets and identities of such persons to the United States Department of ...
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