The United States Department of Treasury has issued a news release today regarding the FATCA FFI Agreement. Click here to access the FFI Agreement that foreign financial institutions must use.If you have any questions, call our office at our office.
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International Tax Law
FATCA News & Information
The United States Department of Treasury has issued a news release today regarding the FATCA FFI Agreement. Click here to access the FFI Agreement that foreign financial institutions must use.If you have any questions, call our office at our office.
Israeli Bank Account Owners Readmitted to OVDP
Although the IRS won't comment on the reason Bank Leumi customers were kicked out of the IRS' Offshore Voluntary Disclosure Program (OVDP) after not only being accepted into the program, but after some had already received a final clearance and paid the amounts...
US Citizen Pleads Guilty to Tax Conspiracy
The Department of Justice and Internal Revenue Service-Criminal Investigation announce a guilty plea by Aaron Cohen of Encino, California. Mr. Cohen pleaded guilty in the U.S. District Court for the Central District of California to conspiracy to defraud the United...
United States and Switzerland Issue Joint Statement Regarding Tax Evasion Investigations
The Department of Justice has announced a program encouraging Swiss banks to cooperate in ongoing U.S. investigations of the use of foreign bank accounts to commit tax evasion. The program is available only to banks not currently under criminal investigation by the...
FATCA News and Information
The Internal Revenue Service has opened a new online registration system for financial institutions that need to register with the IRS under the Foreign Account Tax Compliance Act (FATCA).Financial institutions that must register with the IRS to meet their FATCA...
Liechtenstein Bank Pays $23.8 Million to U.S. in Non-Prosecution Agreement
The United States has agreed to forego criminal prosecution against the bank, Liechtensteinsche Landesbank AG, for opening and maintaining bank accounts for U.S. taxpayers from 2001 through 2011 and assisting U.S. taxpayers in evading their U.S. tax obligations. In...
IRS extends FATCA Registration Date
The FATCA registration website is projected to be accessible to financial institutions on August 19, 2013. Other key dates for registration, however, will be extended by six months. After the FATCA registration website opens, a financial institution will be able to...
Big Business Tax Loopholes Targeted – The End May Be Near
As major nations learn of the tax loss caused by legal tax provisions exercised and optimized by Big Business such as Apple, Dell and Google, the G20 has requested measures to stop companies from shifting profits into tax haven countries.The Group of 20, or G20, is a...
OECD Recommends Steps to G8 to End Offshore Tax Evasion
The Organization for Economic Cooperation and Development (OECD) has identified four steps necessary for transparency and the automatic exchange of information regarding financial accounts through a cost effective and secure system, in an effort to end offshore tax...