US shares details of 35,000 accounts with Israel under Fatca
America’s Internal Revenue Service (IRS) has shared details of more than 35,000 US accounts held by Israeli citizens with the Israel Tax Authority (ITA), according to local media.
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IRS targets virtual currency in tax avoidance probe
As part of its investigation into tax avoidance through the use of virtual currencies, the US Internal Revenue Service (IRS) has filed a petition with a California court requesting personal data from virtual currency exchange firm Coinbase.
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Ex-Credit Suisse banker pleads guilty to aiding tax evasion
A former Credit Suisse banker, who has been on the run for five years, pleaded guilty in a US federal court on Wednesday to helping Americans evade paying tax.
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Cayman firms plead guilty to helping US clients avoid tax
Two Cayman Island investment and trust companies pleaded guilty in a New York federal court to helping American clients evade tax. The first conviction of its kind outside Switzerland.
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US tax authorities demand Singapore bank records
The US Internal Revenue Service (IRS) wants Singapore to waive its bank secrecy laws and push UBS into releasing financial information of a US citizen.
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Julius Baer to pay $350m for US tax evasion
Swiss bank Julius Baer has set aside $350m to settle tax evasion allegations with US tax authorities, significantly reducing the time accountholders have to voluntarily disclose their details at a reduced penalty.
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Anti-FATCA group finalises lawsuit against Canadian Gov’t
A group promoting Canadian sovereignty has raised 80% of the funds required to take the Canadian Government to court for providing residents’ details to the US for its Foreign Account Tax Compliance Act (FATCA).
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Governments risk falling short of FATCA demands
Governments around the world could find themselves under-resourced when the Foreign Account Tax Compliance Act deadline for collecting information on US clients arrives in September, one expert has said.
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Credit Suisse fined $2.6bn by US
Credit Suisse has been hit with a fine for operating an illegal cross-border banking business that helped thousands of American clients evade tax.
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irs targets swiss banks with penalty
IRS commissioner John Koskinen has announced a revised version of the amnesty programme aimed at encouraging US citizens to declare offshore bank accounts, which includes tough penalties for wilful non-disclosure.
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irs to make us offshore tax amnesty less harsh
The US tax authorities are set to make the amnesty programme aimed at encouraging US citizens to declare any offshore bank accounts less tough.
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Credit Suisse pleads guilty in US court
Credit Suisse has pleaded guilty to conspiracy to assist US customers in presenting false income tax returns and has paid a settlement to the US Government of $2.8bn.