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Posts tagged "Offshore Accounts"

Man pleads guilty to charge related to hidden offshore account

The U.S. government has recently been increasing its efforts to combat tax evasion involving offshore bank accounts. Thus, being accused of hiding an offshore account from the IRS can have severe consequences for a U.S. taxpayer. A taxpayer can face serious penalties if he or she is convicted of committing this type of tax crime.

Four Swiss bankers face tax evasion charges

Recently, the U.S. government has been stepping up its enforcement efforts against the use of hidden offshore accounts to commit tax evasion. As part of this enforcement, the government will sometimes conduct criminal prosecutions against the banks or bankers that it believes provided these hidden accounts to taxpayers. Such a case has recently arisen in Virginia.

Offshore Account Case In Florida Results In Guilty Plea

We have discussed in the past how the IRS has begun to develop new methods to detect offshore bank accounts used by taxpayers. A recent federal case brought in Miami demonstrates a couple of potential new tactics the U.S. government may be using to pursue offshore accounts-related tax evasion.

IRS Drops Action Against Swiss Bank

There are many ways the IRS attempts to reveal whether tax evasion has occurred. Sometimes, they use carrots, like amnesty programs. And other times they use sticks, like litigation. This week, it appears that the trend may be moving towards carrots.

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