Archive | May, 2014

Credit Suisse Offers Map to 13 Swiss Banks in U.S. Tax Probe

May 29, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

By David Voreacos and Giles Broom, Bloomberg.com Thirteen Swiss banks face rising stakes in their own criminal probes after Credit Suisse Group AG (CSGN) set a new standard for punishment in the U.S. crackdown on offshore tax evasion. Julius Baer Group Ltd., Zuercher Kantonalbank and the Swiss unit of HSBC Holdings Plc (HSBA) are among […]

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EB-5InvestmentVisas.US Announces New Website

May 23, 2014  |   Posted by :   |   EB-5 Visa   |   0 Comments

EB-5InvestmentVisas.us is pleased to announce the launch of its website dedicated to assisting foreign immigrants seeking to immigrate to the United States. For those investors who can afford a minimum investment of $500,000 USD and can prove a legal source of funds they may qualify for an EB-5 investment visa which will generate a green […]

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Credit Suisse and the IRS

May 21, 2014  |   Posted by :   |   Tax Evasion,Unreported Income,Voluntary Disclosure   |   1 Comment

After more than 100 years of creating “secret offshore accounts” held covertly in the names of “sham entities and foundations”, on 5/19/14, Switzerland’s 2d biggest bank, Credit Suisse (“CS”) plead guilty to tax evasion (one count of conspiracy to commit tax evasion). CS agreed to pay $2.6B in federal and New York state penalties, and hire […]

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Texas’ Wyly Brothers Committed Fraud, U.S. Jury Finds

May 16, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

From cnbc.com Texas businessman Samuel Wyly and the estate of his deceased brother, Charles, were liable for fraud for having engaged in a “scheme of secrecy” involving offshore trusts that netted them $550 million in trading profits, a jury decided on Monday. Jurors in Manhattan federal court found the defendants liable on all claims brought […]

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Swisspartners Hands in American Clients to US Authorities

May 14, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

From step.org The Swiss wealth management firm Swisspartners has agreed to pay the US Department of Justice USD4.4 million to avoid being prosecuted for helping its American clients conceal overseas assets. The company has also turned in to the US Internal Revenue Service 110 clients who owned assets through sham trusts and foundations. Swisspartners was […]

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How Widespread is Tax Evasion?

May 09, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

by Peter Dizikes, MIT News Office Tax evasion is widely assumed to be an eternal problem for governments – but how widespread is it? For the first time, a new study, co-authored by an MIT professor, has put a cost on a particular kind of tax evasion, known as “round-tripping,” that the U.S. government has […]

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2014 U.S./California Income Tax

May 02, 2014  |   Posted by :   |   Income Tax   |   0 Comments

In 2014, the highest income tax rate is 51.7% (Federal tax rate: 44.3%, California tax rate: 13.3%). The 51.7% tax rate applies to wage earners. For investors the top rate on net investment income is 50.92% (Federal tax rate: 43.4%, California tax rate: 13.3%). The top tax rates apply to U.S. taxpayers who earn income […]

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