The Swiss government said on May 29, 2013 that it would allow its banks to disclose information on American clients with hidden accounts, a watershed move intended to help resolve a long-running dispute with the United States over tax evasion. Disclosure of actual client names and account data, which American authorities have been aggressively seeking, would…Read more
Miccosukee Indians Hit With $170 million IRS Tax Lien!
The Internal Revenue Service has slammed the Miccosukee Indians with a bill of $170 million for the West Miami-Dade tribe’s failure to report and withhold taxes from its distribution of gambling profits to tribal members, according to court records. In a long-running battle, the IRS also has smacked hundreds of the tribe’s members with separate…Read more
The IRS Will Be Closed Tommorow May 24, 2013 Due to Sequester.
IRS has announced that due to the current budget situation, including the sequester, all IRS operations will be closed on May 24, June 14, July 5, July 22, and Aug. 30, 2013. While all IRS offices will be closed, and IRS employees will be furloughed without pay, taxpayers should nonetheless continue to file their returns…Read more
Luxembourg Chooses Model I FATCA Agreement For Sharing Account Information With the US
We originally posted U.S. Engaging with More than 50 Jurisdictions to Curtail Offshore Tax Evasion on November 8, 2012, where we discussed that the U.S. Department of the Treasury announced that it is engaged with more than 50 countries and jurisdictions around the world to improve international tax compliance and implement the information reporting and…Read more