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Monthly Archives: September 2011

U.S. campaign to catch tax cheats snaring Canadians

As U.S. tax authorities move to crack down on citizens living abroad, many living in Canada have been caught up in fear of massive penalties. Esther Thompson, 70, and her sister Betty, 69, both married to retired farmers living near Prince Albert, Sask., are among those who have come unhappily forward to the U.S. Internal…
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IRS Tells Examiners to Step Up Scrutiny of Captive Foreign Insurance Subsidiaries

The Internal Revenue Service Sept. 19 told its examiners to more closely scrutinize captive foreign insurance subsidiaries during excise tax audits of foreign insurance companies. The new memorandum (SBSE-04-1811-070) is the latest development in a continued crackdown on the use of these subsidiaries to avoid taxes. In the Aug. 9 document, released on the web…
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Eight offshore banks are under federal grand jury investigation

Bloomberg - By Carla Main - document.write(dateFormat(new Date(1316606759000),"mmm d, yyyy h:MM TT Z")); Sep 21, 2011 8:05 AM ET<a href="">Wed Sep 21 12:05:59 GMT 2011 -</a> Eight offshore banks are under federal grand jury investigation for facilitating tax evasion by U.S. citizens as part of a probe the Justice Department said has dealt “fabled Swiss…
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