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Monthly Archives: August 2011

Whatcha Gonna Do When They Come for You? IRS CID Stepping Up its Act

WASHINGTON –The Internal Revenue Service’s (IRS) Criminal Investigation (CI) division surpassed its goals for Fiscal Year (FY) 2010, according to a new report publicly released by the Treasury Inspector General for Tax Administration (TIGTA). CI is primarily dedicated to developing and investigating legal source tax cases, which are crimes involving legal industries and occupations and…
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IRS Extends Deadline for Offshore – What Must Be Filed?

The IRS stated on August 26 and further clarified on August 29 that due to the potential impact of Hurricane Irene it has extended the due date for its 2011 Offshore Voluntary Disclosure Initiative (OVDI) requests and several other required informational returns from August 31, 2011 until September 9, 2011. For those taxpayers who have not…
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Swiss ‘Clarification' on U.S. Treaty Could Ease Handover of Bank Account Details

The Swiss government has put forward a clarification of the new U.S.-Swiss double taxation tax treaty, which may help resolve a dispute between the two countries over allegations that Switzerland’s second largest bank helped its U.S. clients evade taxes. A spokesman for the Swiss Federal Tax Administration, Mario Tuor, confirmed Aug. 29 that the Federal…
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