Tag Archives: Swiss Banks

Justice Department Announces Piguet Galland & Cie SA Reaches Resolution under Swiss Bank Program

October 26, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

The Department of Justice announced today that Piguet Galland & Cie SA (Piguet Galland) has reached a resolution under the department’s Swiss Bank Program. Piguet Galland will pay a penalty of more than $15 million and continue to cooperate with the department. “With each agreement signed under the Swiss Bank Program, we gain a deeper […]

Read More »

Offshore Accounts and Money Laundering

September 10, 2015  |   Posted by :   |   Tax Evasion   |   0 Comments

As of today, 44 Swiss Banks have agreed to settle with the US DOJ. Taxpayers with accounts at these banks face a 50% penalty if they enter the IRS OVDP i.e. 50% of the account balance is a penalty paid to the IRS. 1. IRS Offshore Account Penalties Increase, Hunt Continues The number of Swiss […]

Read More »

IRS Offshore Account Penalties Go Up, More Banks Listed

August 06, 2015  |   Posted by :   |   FATCA/FBAR,Tax Evasion   |   0 Comments

IRS Offshore Account Penalties Go Up, More Banks Listed by Robert W. Wood, Forbes.com Since July 1, eleven more Swiss banks have entered deferred prosecution agreements with the U.S. government. The subject is tax evasion involving American account holders. Today, banks everywhere want to know if you are compliant with the IRS. Under FATCA, the […]

Read More »

Swiss Banks and the US Dept. of Justice

July 23, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   1 Comment

On 7/16/15 Reuters reported that three more Swiss banks will pay penalties to the United States as part of deals that mean they will not face criminal charges for helping Americans avoid taxes. Mercantil Bank (Schweiz) AG will pay $1.172 million, Banque Cantonale Neuchâteloise will pay $1.123 million and Nidwaldner Kantonalbank will pay $856,000. See […]

Read More »

BSI SA of Lugano, Switzerland, is First Bank to Reach Resolution Under Justice Department’s Swiss Bank Program

March 31, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

The Department of Justice announced today that BSI SA, one of the 10 largest private banks in Switzerland, is the first bank to reach a resolution under the Department of Justice’s Swiss Bank Program. “Because of the department’s continuing efforts to root out offshore tax evasion, Swiss banks are operating much differently today than they […]

Read More »