Archive | December, 2013

Swiss Banks React to FATCA, Tell Americans to Close Accounts

December 27, 2013  |   Posted by :   |   Expatriation,International Tax Planning,Tax Evasion,Unreported Income   |   0 Comments

U.S. expatriates who have Swiss bank accounts are being advised to move their accounts, which effects an estimated 7 million US expatriates. The Swiss banks are either selling off the US taxpayer accounts at a loss, of if at a gain (or from a pension fund) subject to 2013 U.S. income taxes. U.S. taxpayers who […]

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Art as an Investment Vehicle

December 20, 2013  |   Posted by :   |   International Investors   |   0 Comments

The world’s super-rich are buying art to gain status and for the attractive investment. Currently, approximately 3% of the world’s wealthy now own art though that number is expected to grow to 30-40% in the next decade. Art as a high-end investment has been fueled by the dramatic increase of millionaires world-wide. According to the […]

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12 Agreements Signed to Help U.S. Fight Offshore Tax Evasion

December 18, 2013  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

By Alison Bennett, Bloomberg.com Twelve governments have reached agreement with the U.S. Treasury on easing the reporting of foreign-held bank accounts by U.S. taxpayers, part of the Internal Revenue Service’s effort to combat offshore tax evasion. The agreements will help implement the Foreign Account Tax Compliance Act, which as of July 1 will require that […]

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Indicted Englewood Couple Sells House for $2.2 Million

December 16, 2013  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

By Josh Salman, HeraldTribune.com 12/13/13 MANASOTA KEY – An Englewood couple indicted on federal charges related to an off-shore tax evasion conspiracy will likely have a couple extra million dollars to help pay their fines. David Frederick and Patricia L. Hough sold their 5,814-square-foot home in Manasota Key earlier this month for $2.2 million, court […]

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Three More Swiss Banks Join U.S. Tax Deal

December 12, 2013  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

Reuters.com “Three more Swiss banks said they would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts, a trickle that could rise to about one third of the country’s private banks. The number that participate in the government-brokered scheme is important for larger banks facing criminal investigations in […]

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