On June 26, 2012, the IRS announcednew Streamlined Filing Compliance Procedures for non-resident U.S. taxpayers to go into effect on September 1, 2012. These new procedures are for non-residents including, but not limited to, dual citizens who have not filed U.S. income tax and information returns. The IRS website now has specific instructions for this…
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End of Banking Secrecy for Switzerland?
Swiss Banker are all shaking their heads saying, ‘In 40 years of operations we’ve never had a crisis like this one – a war like the one being waged against the Swiss banking system. We’re in the artillery sights of every country and every day there are new attacks’,” recounted Paolo Bernasconi, a business law…
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Switzerland must prepare for the possible Automatic Exchange of Bank Client Information
“Switzerland and its banking system should assume that in five to ten years when a foreign client comes and opens a Swiss bank account, his name, the date he opens the account and the bank’s name will be automatically transferred to his country’s treasury,” said Hildebrand. “The Swiss fiscal refuge is over.” Hildebrand, who resigned…
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New Filing Compliance Procedures for Non-Resident U.S. Taxpayers
We first posted this New Filing Compliance Procedures for Non-Resident U.S. on Tuesday, June 26, 2012 in our blog post entitled IRS announced a plan to Help U.S. Citizens Overseas Become Compliant and then we supplemented it with examples in our blog posts entitled Tax amnesty offered to Americans in Mexico and Tax amnesty offered to…
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