The IRS knows more about your offshore accounts than you might think. Since the implementation of FATCA the US Treasury Department has forced international compliance with electronic account and transaction reporting. The IRS Network of Inter-Governmental Agreements (IGAs) is growing at a rapid rate. The IRS continues to expand the...
FBAR Related Charges Will Put Paul Manafort Behind Bars
While facing a slew of federal charges including conspiracy against the United States the FBAR related charges will put Paul Manafort behind bars. The charges against the former campaign manager and his aid are serious in their very nature, but it is interesting that one of the central issues associated...
US Has Now Reached FATCA Agreements with 75 Swiss Banks
An agreement reached just before Christmas means that the US has reached FATCA agreements with 75 Swiss banks. The US Department of Justice has confirmed penalties exceeding $178 Million from 4 Swiss bank agreements including: Banque Cantonal du Valais (BC Valais) Gonet & Cie or simply Gonet Bank J. Safra...