Wednesday, November 27, 2013

DOJ Keeping Quiet On New Lists of US Depositors from Foreign Banks

U.S. taxpayers with unreported foreign bank accounts may not get warning that DOJ has knowledge of their account!

The Justice Department's Tax Division has a lot of information that is not public regarding foreign bank accounts and is communicating with banks in countries that don't have a treaty relationships with the U.S., according to Assistant Attorney General Kathryn Keneally, who on November 6, 2013 spoke at the American Institute of CPAs Fall Tax Division Meeting.

The DOJ has been aggressively cracking down on U.S. individuals holding money in secret offshore bank accounts (See our post "UBS Criminal Casualties, so Far and More Guilty Pleas Over Offshore Accounts in the Works! ") and has had some success in getting assistance from banks operating in tax haven countries.

There has been a big improvement in the ability of the U.S. to find secret accounts, according to Kenneally. 

For example the Swiss government's announcement on August 29, 2013 that it has made a deal with the DOJ to get Swiss banks to turn over detailed information on their U.S. account holders in return for agreements that the banks won't be criminally prosecuted by U.S. tax authorities (See our post "Swiss Banks Agree to Plan to End Past US Tax Evasion Issues!")

Are You One of the > 7 MM Americans
with Unreported Foreign Bank Income?

Contact the Tax Lawyers at 
Marini & Associates, P.A.  
for a FREE Tax Consultation
Toll Free at 888-8TaxAid (888 882-9243).


No comments:

Post a Comment