The Internal Revenue Service has issued a warning to taxpayers about avoiding taxes by hiding money or assets in unreported offshore accounts, a tax scam that remains on the annual
Continue Reading Offshore Tax Evasion Rounds Out IRS Annual “Dirty Dozen” for 2018
The Justice Department’s Tax Division has recently announced a major policy shift that will invariably result in longer jail sentences for individuals convicted of failing to report their offshore bank
Continue Reading Offshore Accountholders Beware: New DOJ Sentencing Policy for FBAR Cases Is a Game-Changer
Today the Treasury Department’s Financial Crimes Enforcement Network posted a “FBAR Due Date Clarification” on its website, which confirms that the annual filing deadline for FinCEN Form 114
Continue Reading FinCEN Clarifies Upcoming FBAR Due Date for Calendar Year 2017
Last week the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) again extended the deadline for certain financial professionals to file foreign bank accounting reporting forms known as FBARs. In FinCEN
Continue Reading FinCEN Announces Yet Another FBAR Filing Extension for Certain Financial Professionals
Tomorrow morning (November 17) the International Consortium of Investigative Journalists (ICIJ) is set to release publicly the first set of comprehensive data from the recent “Paradise Papers” leak. The initial
Continue Reading On Eve of “Paradise Papers” Release, At-Risk Individuals Should Consider Immediate Action to Mitigate Potential for Criminal Prosecution
With tax reform a hot topic in Washington, key Republican lawmakers in Congress are considering a major change to the U.S. tax system: eliminating citizenship-based taxation and moving to a
Continue Reading Could U.S. Tax Reform Include An End to Citizenship-Based Taxation?
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced today that California wildfire victims in affected areas of California have until January 31, 2018, to file their Report of Foreign
Continue Reading FinCEN Provides FBAR Relief to Victims of the California Wildfires
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) today updated two previous notices regarding FBAR-filing relief to victims of the recent hurricanes. Extension filers have until January 31, 2018 to
Continue Reading FinCEN Provides Updated FBAR-Filing Relief to Victims of Hurricanes Harvey, Irma, and Maria
Fox Rothschild LLP attorneys Patrick J. Egan and Beth L. Weisser won a significant victory in a trial against the IRS when a federal judge rejected the government’s demand for
Continue Reading Fox Rothschild Wins Landmark Victory for Taxpayer in FBAR Case
We previously reported that the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) had granted FBAR filing relief to the victims of Hurricane Harvey. FinCEN announced today that Hurricane Irma victims
Continue Reading FinCEN Extends FBAR Relief to Victims of Hurricane Irma