Recent News Related to Offshore Banking
Recent News Related to Offshore Banking by Asher Rubinstein, Esq. 1. The Continued Risk of “Quiet Disclosure” of Offshore Accounts Americans with a non-compliant foreign account are faced with various...
View ArticleRecent Swiss Attempts to Counter U.S. Pressure on "Secret" Bank Accounts, but...
Recent Swiss Attempts to Counter U.S. Pressure on “Secret” Bank Accounts, but Will They Work? by Asher Rubinstein, Esq. 1. In response to a deadline imposed by the United States Department of Justice...
View ArticleSwiss Bank Wegelin Indicted by Department of Justice (DOJ) for Tax Fraud
Swiss Bank Wegelin Indicted by Department of Justice (DOJ) for Tax Fraud by Asher Rubinstein, Esq. On February 2, 2012, the U.S. Department of Justice (DOJ) indicted Swiss bank Wegelin & Co. for...
View ArticleAsher Rubinstein on Swiss TV (in German) regarding foreign banking
Asher Rubinstein on Swiss TV (in German) regarding foreign banking Click Here For Details… Read MoreThe post Asher Rubinstein on Swiss TV (in German) regarding foreign banking appeared first on Asset...
View ArticleAsher Rubinstein on Swiss TV (in French) regarding Swiss banking and the...
Asher Rubinstein on Swiss TV (in French) regarding Swiss banking and the indictment against Wegelin Bank Click Here For Details… Read MoreThe post Asher Rubinstein on Swiss TV (in French) regarding...
View ArticleAsher Rubinstein Interviewed in European Media Regarding Swiss Court Decision...
Asher Rubinstein was interviewed in various European media outlets regarding the IRS and Department of Justice initiative against undisclosed Swiss bank accounts held by US taxpayers, and the recent...
View ArticleWegelin’s US Account Taken by US Treasury: Global Implications and What it...
Wegelin’s US Account Taken by US Treasury: Global Implications and What it Means for Non-Compliant Foreign Accounts by Asher Rubinstein, Esq. This week, a US federal judge ordered the seizure of a bank...
View ArticleNew Banks Revealed to Be Under IRS and DOJ Investigation for “Secret” Foreign...
By Asher Rubinstein, Esq. Two additional Swiss banks, Bank Frey and Pictet & Cie, are now “officially” under investigation by the U.S. Department of Justice for aiding tax fraud by U.S. taxpayers...
View ArticleOffshore Voluntary Disclosure Update: Are Lower Penalties Still Possible?
As we work to close many voluntary disclosures to the IRS regarding foreign accounts, we are noticing a recent trend: the IRS is increasingly limiting the application of the lower, five percent...
View ArticleOffshore Accounts Update: IRS Foreign Account Amnesty Can Close at Any Time
My new article, ”The Door to Foreign Account Amnesty Can Close at Any Time” discusses current developments in the crackdown on undeclared offshore assets. This article will be published in a...
View ArticleU.S. & Switzerland Reach Agreement: Almost All Swiss Banks to Provide Account...
We’ve written much about the ability of the IRS to discover unreported Swiss accounts, and we need not repeat warnings about criminal prosecution and onerous fines and penalties in the event that the...
View ArticleIf You Have an Unreported Foreign Account, You Really Should Be Thinking...
If You Have an Unreported Foreign Account, You Really Should Be Thinking about Tax Compliance by Asher Rubinstein, Esq. If you have a foreign account that you have not declared to the IRS, you really...
View ArticleShould Everyone with Undeclared Foreign Assets Make a Voluntary Disclosure to...
We have written extensively about the erosion of foreign banking secrecy, IRS discovery of undeclared foreign accounts, and the IRS Offshore Voluntary Disclosure Program (OVDP) to come into tax...
View Article2013 Year End Notes, Part 3: Offshore Considerations
During 2013, the IRS and U.S. Department of Justice (DOJ) continued to successfully attack offshore banking “secrecy”. The IRS’ success against UBS and other banks eroded Swiss banking secrecy,...
View ArticleOn Scaring Americans with Offshore Accounts to Make a Voluntary Disclosure to...
We’ve written before about attorneys using fear of criminal prosecution to pressure people to enter the IRS Offshore Voluntary Disclosure Program (OVDP). For instance, we recently wrote: Many tax...
View ArticleDid You Receive a Letter from a Foreign Bank, Urging You to Report Your Account?
Within the past few months, banks in Switzerland (and elsewhere), or the banks’ lawyers, have sent a flood of letters to their current and former U.S. clients. The letters advise the clients about...
View ArticleCredit Suisse Pleads Guilty; Asher Rubinstein Quoted in Businessweek
As we’ve previously written, Credit Suisse had been under investigation by the U.S. Department of Justice (DOJ) for the past few years for facilitating tax fraud by U.S. clients with “secret” Credit...
View ArticleThe Offshore World in 2015: Further Erosion of Offshore Bank Secrecy and...
During 2015, the IRS and U.S. Department of Justice (DOJ) continued to successfully attack offshore banking “secrecy”. The IRS’ success against UBS and other banks eroded Swiss banking secrecy,...
View ArticleSwitzerland Defeated, the U.S. Turns Against Accounts in Other Countries
Recently, the last Swiss banks to seek non-prosecution agreements with the U.S. Department of Justice (DOJ) have paid their fines and revealed the identities of their U.S. account holders. The U.S....
View ArticleThe Panama Papers: Effective Asset Protection Should Not Be Compromised by...
The “Panama Papers” purportedly show how one law firm in Panama City with branches from Switzerland to Hong Kong utilized offshore entities and bank accounts to hide money for a world-wide clientele...
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