Slovenia Initials FATCA Agreement With US

Failure by an FFI to disclose information on their US clients, including account ownership, balances and amounts moving in and out of the accounts, will result in a requirement to withhold 30 percent tax on payments of US-sourced income.


Trusts Save Taxes by Paying Out More Now

Trusts are often used as a vehicle to reduce or eliminate gift and estate tax while bequeathing wealth to children or other beneficiaries, but are subject to taxes on their own earnings, from investments, interest and other forms of income.


Is Opposing FATCA Supporting Tax Evasion?

They face serious repercussions if they don’t. Whether FATCA is a grand idea or a travesty, the IRS and Treasury Department have made Herculean efforts to implement it.


Companies Fleeing IRS Pay CEOs Extra as Penalty Backfires: Taxes

When Actavis Inc. changed its incorporation to Ireland in October, the New Jersey-based drugmaker helped CEO Paul Bisaro avoid the law’s bite by handing him more than $40 million of stock as much as three years ahead of its schedule, then promising


IRS Slammed For Unfair Offshore Cash Penalties

The study also revealed taxpayers who decided against voluntary disclosure by opting out were challenged with automatic audits that resulted in an average penalty of around 70% of any unpaid tax and interest.


US Court upholds offshore tax avoidance rules

The DOJ said on Jan. 13 that the Florida Bankers Association and Texas Bankers Association had challenged the 2012 amendments to the Department of the Treasury’s interest-reporting regulations.


Ex-UBS banker pleads not guilty in U.S. tax case

Prosecutors say Weil conspired to hide $20 billion in assets from the IRS using secret overseas accounts for thousands of wealthy customers. Weil's lawyers in Switzerland have insisted he is innocent.