During its meeting on 08.10.2014, the Federal Council adopted definitive negotiation mandates for introducing the new global standard for the automatic exchange of information in tax matters with partner states. The competent parliamentary committees and the cantons were consulted on the mandates in recent months. Negotiations with partner states should commence shortly. On 21 May…
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IRS To Realign Compliance Operations
Starting Oct. 20, the IRS is realigning its tax compliance organizations serving individual and small business taxpayers. Realigning core business operations in its Wage and Investment and Small Business/Self-Employed divisions is expected to make processes more efficient. In addition, the realignment will reduce redundancies and position ourselves to improve our ability to identify emerging compliance…
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Ex Neue Zürcher Banker Heading To Florida To Testify in Weil Case!
According to Swissinfo, a former top executive at Neue Zürcher Bank (NZB) has turned himself over to the United States justice authorities and may testify in the trial of ex-UBS banker Raoul Weil next week. We previously posted on December 16, 2013, The 2nd Ex-UBS Banker is About to Blow The Whistle on His US Clients!…
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IRS Examinations Decrease Due to Staff Cuts
The Treasury Inspector General for Tax Administration (TIGTA) released its annual report on IRS compliance trends on September 12, 2014. Individual income tax return examinations conducted by the US Internal Revenue Service decreased in 2013 for the third year in a row, falling to USD1.4 million or one for every 104 tax returns. Just over…
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