Category: Wegelin Bank

United States: Global Tax Enforcement in 2016: What You Need To Know

The investigation and prosecution of tax evasion has, in the last decade, grown from a specialized subcategory of law enforcement into a first-tier policy concern for the global community. Starting with the U.S. government’s crackdown on Swiss bank UBS in 2008, there has been a steady drumbeat of news about...

Tax-dodger hunt neutralises Swiss bank secrecy, U.S. envoy says

Swiss banking secrecy is no longer viable as the U.S. Justice Department closes in on agreements with most of the institutions that may have helped Americans evade taxes, according to the top American diplomat in Switzerland. Negotiations with about one-third of Swiss lenders, known as Category 2 banks, to finalise...

Is FATCA chasing a leprechaun and his pot of gold?

FATCA was enacted into law by section 501(a) of the Hiring Incentives to Restore Employments (HIRE) Act 2010 as a revenue offset to help pay for the continuation of unemployment benefits for workers laid off during the 2008-2010 financial crisis. In July 2008, the U.S. Senate Permanent Subcommittee on Investigations...

U.S. Tax Informant Dodged Prison, Now Seeks $22 Million Reward

A businessman caught in a money-laundering sting helped the U.S. prosecute a foreign business — and now he’s seeking $22.2 million from the government as a reward. The U.S. Tax Court ruled Tuesday in favor of the informant, allowing his claim to proceed after the Internal Revenue Service earlier denied...

Offshore Tax Evasion: The IRS & Swiss Banks

LIGHTNING RELEASES (1/30/2015) – Attorney Gary S. Wolfe of The Wolfe Law Group is pleased to announce, after 12 years of research, the publication of his 10th book, Offshore Tax Evasion: The IRS and Swiss Banks, now available for immediate download through the Amazon Kindle store. Switzerland is the epicenter...

U.S. Expands Investigations Against Offshore Tax Evasion To India, Israel

WASHINGTON: The U.S. has expanded its action against tax cheaters to countries such as India, Israel and Liechtenstein, a top U.S. official told lawmakers. So far, the U.S. action was primarily focused against tax cheaters on Switzerland. Since 2009, the Department has publicly charged 73 account holders and 35 professionals...