Offshore Accounts

Beanie Babies creator gets probation for tax evasion

(Reuters) - The billionaire creator of Beanie Babies, Ty Warner, will serve two years of probation, including mentoring high school students, following his [...]

IRS not fully ready for law against offshore tax evasion: watchdog

WASHINGTON (Reuters) - The Internal Revenue Service has spent 19 months and more than $8.6 million getting ready to enforce a new law against offshore tax [...]

What To Say When (Not If) Your Offshore Bank Asks, ‘Are You Compliant With IRS?’

More than 7 million Americans live abroad, and most have bank accounts there. Many other Americans have overseas bank accounts too. Most are receiving [...]

IRS Disqualifies Offshore Voluntary Disclosure Participants

The Internal Revenue Service has notified tax attorneys around the country that their clients have been disqualified from participation in the Offshore [...]

IRS Yanks Criminal Amnesty Deal From Taxpayers With Secret Bank Leumi Accounts

The Internal Revenue Service this week sent faxes to tax attorneys nationwide informing them that clients who were previously accepted into its criminal [...]

2 recent IRS developments that will impact Indian Americans

In the last few years, the US Internal Revenue Service (IRS) has been focusing heavily on tracking offshore accounts of its residents and citizens. Today, [...]

IRS Streamlines Foreign Account Amnesty

Many U.S. citizens living abroad who haven't filed FBARs or reported worldwide income on their U.S. taxes want a better deal than the IRS Offshore Voluntary [...]

Treasury Unveils FATCA Model Intergovernmental Agreement; Final Regulations in Pipeline (TNDR TG-1653)

The Treasury Department on July 26 released a model intergovernmental agreement to facilitate compliance with the Foreign Account Tax Compliance Act (FATCA) as [...]