Tag Archives: offshore

The IRS and Panama Papers – Lessons Learned

July 18, 2016  |   Posted by :   |   Panama Papers,Tax Evasion   |   0 Comments

In a 7/7/16 Hearing before the House Oversight/Government Reform Committee, James B. Comey, FBI Director said: “We don’t want to put people in jail unless we prove that they knew they were doing something they shouldn’t do”. In 2016, the “Panama Papers” named hundreds of thousands of wealthy international investors with offshore accounts (set up […]

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IRS & Panama Papers: US Taxpayers and Criminal Issues

July 13, 2016  |   Posted by :   |   Panama Papers,Tax Evasion   |   0 Comments

Part 1 – US Taxpayers The Panama Papers highlight important IRS issues for US Taxpayers with international (i.e. offshore holdings). Tax issues include: 1) US taxpayers must annually report all of their income both in the US and worldwide. 2) In a divorce action, both spouses must disclose under penalty of perjury, all of their […]

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HSBC Offshore Tax Evasion

February 10, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

HSBC, the second largest bank in the world, with headquarters in London, is embroiled in offshore tax evasion allegations involving $100 billion dollars. According to the BBC News, HSBC offshore tax evasion ultimately “helped clients dodge millions in taxes” with more than 200 countries being involved in the tax evasion. On 2/18/15 the ICIJ (journalists […]

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St. Louis Man Convicted of Hiding Assets Overseas

February 05, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

In October 2014, the U.S. Dept. of Justice obtained a felony plea for one count of filing a false tax return and failure to file FBAR (report of foreign bank account) from Raju Mukhi who failed to disclose Swiss and Singapore offshore bank accounts. In January 2015, he was fined $838,439 and sentenced to 3 […]

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Offshore Tax Evasion: The IRS and Swiss Banks

January 14, 2015  |   Posted by :   |   Tax Evasion   |   0 Comments

I am pleased to announce, after 12 years of research, the publication of my 10th book, now available for immediate download from the Amazon Kindle store: Offshore Tax Evasion: The IRS and Swiss Banks Switzerland is the epicenter of international tax evasion and money laundering. Under the 2013/2014 US Govt. GAO Report, the IRS Offshore […]

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Bank Leumi Admits to Assisting U.S. Taxpayers in Hiding Assets in Offshore Bank Accounts

December 30, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

Department of Justice, Office of Public Affairs, 12/22/14 A major Israeli international bank admitted that it conspired to aid and assist U.S. taxpayers to prepare and present false tax returns to the Internal Revenue Service (IRS) by hiding income and assets in offshore bank accounts in Israel and elsewhere around the world.  A deferred prosecution […]

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Switzerland and Offshore Tax Evasion

October 07, 2014  |   Posted by :   |   Tax Evasion   |   0 Comments

In a recent study, Gabriel Zucman, Asst. Prof., London School of Economics (and international author who works with Thomas Piketty and Emanuel Saez) estimated: 1) Switzerland has $2.4 Trillion in global offshore funds, 1/3 of projected $7.6 Trillion total (which is 8% of projected global financial assets). 2) 60% of foreign owned deposits in Switzerland […]

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Florida man, 83, admits hiding $1.1M from IRS

September 23, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

By Kevin McCoy, USAToday.com An 83-year-old Florida man pleaded guilty Tuesday to hiding at least $1.1 million from the IRS in secret Switzerland and Israel bank accounts for more than a quarter century. Delray Beach resident Bernard Kramer held the secret accounts from 1987 to about 2012. He used the code phrase “Hot Lips” to […]

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Six Corporate Executives and Six Corporate Entities Indicted for Orchestrating a $500 Million Offshore Asset Protection, Securities Fraud, and Money Laundering Scheme

September 17, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

There are those who use foreign accounts to shield their assets from the IRS, because they believe they will never get caught. They think the IRS is in disarray and that they don’t have the resources to aggressively go after offshore cheats. However with FATCA, the playing field has changed. In this particular case, not […]

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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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