We previously posted on December 16, 2013, The 2nd Ex-UBS Banker is About to Blow The Whistle on His US Clients! where we discussed that the former head of UBS's wealth management division, Raoul Weil, has agreed to be extradited to the US to face charges and U.S. Magistrate Judge Patrick Hunt agreed to let Weil…
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U.S. Client of Credit Suisse? Last Chance To File A Voluntary Disclosure!
Thousands of Credit Suisse Group AG’s U.S. clients still don’t know whether tax authorities will learn their identities as prosecutors work to conclude a three year probe of how the bank helped them evade taxes. We posted on February 25, 2014, Report to Congress: Credit Suisse Help US Taxpayers Hide Billions in Offshore Accounts!where we…
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Do You Have the Most Recent Offer-In-Compromise Form?
When submitting an Offer in Compromise for your client, use the January 2014 versions of Form 656-B, Offer in Compromise Booklet, and Form 656, Offer in Compromise. The OIC user fee has increased from $150 to $186 in January. IRS will return applications submitted on older versions of the form with the old user fee.…
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Chile Becomes The 1st South American Country To Sign FATCA
On March 5 , 2014, Chile signed a FATCA Agreement with the US. They signed a type-2 intergovernmental agreement (IGA). Under the agreement there is no automatic exchange of information but each financial institution must provide to the IRS the information about financial accounts held by US taxpayers. This provision of information must be authorized by the relevant account holder,…
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