EXTREME PENALTIES, EXPATRIATION
... secret accounts. The plea, in U.S. District Court in Manhattan, marks the death knell for one of
Switzerland's most storied banks, whose original European clients pre-date the American Revolution.
Wegelin admitted to charges of conspiracy in helping Americans evade taxes on at least $1.2 billion
1818 Society Form 8938 and Other Important
... Assets Report – Form 8938
“Specified foreign financial asset”
• Any financial account maintained by a foreign
• Any stock or security issued by a foreign person
• Any financial instrument/contract – foreign issuer
• Any interest in a foreign entity
Information statement - Max ...
Canadian Cross Border issues for US Citizens
... Foreign Account Tax Compliance Act
New US law aimed at requiring Foreign Financial Institutions to provide to the
US information on the financial institutions US account holders accounts
CRS - RHB
... If there is any change in the information provided to the bank, you are required to inform the bank promptly and provide the Bank with a selfcertification on your tax residency within 30 days of the changes in your circumstances.
Crackdown on Offshore Tax Evasion Not Slowing Down
... concealment type conduct, a quiet disclosure is more attractive. Nevertheless, if their tax return filings are
audited, the chance of leniency on penalties will be significantly compromised. Finally, it should go without
saying that any quiet disclosure must be truthful and accurate as to every mate ...
Foreign Account Tax Compliance Act
The Foreign Account Tax Compliance Act (FATCA) is a United States federal law requiring United States persons (including those living outside the U.S.) to have yearly reported themselves and their non-U.S.financial accounts to the Financial Crimes Enforcement Network (FINCEN), and requires all non-US (Foreign) Financial Institutions (FFI's) to search their records for suspected US persons for reporting their assets and identities to the US Treasury. Congress enacted FATCA to make it more difficult for (resident and non-resident) U.S. persons to have financial assets which are not located in the United States, by adding further asset-reporting law with consequences, and thus to enable further federal tax revenues and penalties from a wider global population of newly discovered US persons and their partners, at the expense of non-US banks. The FATCA is the revenue-raising portion of the 2010 domestic jobs stimulus bill, the Hiring Incentives to Restore Employment (HIRE) Act, and was enacted as Subtitle A (sections 501 through 541) of Title V of that law.