On June 5, 2019, we posted IRS Whistleblower Office Collects Over $1.44 Billion & Paid a Record $312M to Tipsters where we discussed that the Internal Revenue Service’s Whistleblower Program made 217 awards to whistleblowers totaling $312,207,590 and collected $1,441,255,859 in fiscal year 2018, according to a new report. the in its 2019 Annual Report to Congress, the Whistleblower…
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Union Bancaire Privée, UBP SA Forgot To Report Some US Account Holder?
The DoJ announced that it has signed an addendum to a non-prosecution agreement with Union Bancaire Privée, UBP SA (UBP), a private bank headquartered in Geneva, Switzerland. The original non-prosecution agreement was signed on Jan. 6, 2016. At that time, UBP reported that it held and managed 2,919 U.S. Related Accounts, with assets under management of…
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151 Offshore Banks & Financial Advisors Are Turning Over Your Names To The IRS – What Are Your Waiting For?
On September 3, 2018 we posted 150 Offshore Banks & Now Financial Advisors Are Turning Over Your Names To The IRS - What Are Your Waiting For? and since then the Government has add Adrian Baron (effective 9/11/2018) to this list bringing the number to 151 Offshore Banks and Foreign Financial Advisors.The IRS keeps updating its list of foreign banks which are…
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IRS Wins Another 50% Willful FBAR Penalty Case!
A district court has found in Agrawal, (DC WI 12/9/2019) 124 AFTR 2d ¶2019-5522 that a taxpayer was liable for nonwillful FBAR penalties and that the reasonable cause exception did not apply because the taxpayer did not act with ordinary business care and prudence when he prepared some of his own returns and when he had an…
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