Compliance Issues Internal Revenue Code Switzerland Tax Compliance

Justice Department Expecting to Collect over $1.36 billion from Swiss Banks

In the beginning of 2016, the Justice Department reported that it is expecting to collect over $1.36 billion from 80 Swiss banks and financial institutions that admitted to aiding U.S….

Court Case FATCA Israel

Israeli High Court Dismisses FATCA Petition

A local branch of the U.S. Republican Party had filed a petition on January 11, 2016 with the High Court of Justice in Israel, Israel’s highest court, opposing FATCA laws. …

Compliance Issues Switzerland

Swiss Bank Julius Baer Reaches $547M U.S. Tax Evasion Settlement

On December 30, Swiss Bank Julius Baer set aside $547 million as part of its settlement with the U.S. Department of Justice for its role in assisting clients evade United…

Foreign Country Filing Considerations Foreign Tax Preparation

Issues in Cross Border Charitable Giving

Internal Revenue Code § 170 allows taxpayers a deduction for charitable contributions they make to qualifying organizations.  Many taxpayers may wish to donate to foreign charitable organizations and want to…

Brazil Immigration

Brazilians Flock to Miami to Bear their Children

There has been an influx of affluent Brazilian families coming to Miami to bear their children due to the deep recession, swelling unemployment and crime rising in Brazil, and the…

Switzerland

Swiss Bankers Association Publishes Dormant Accounts List Worth 44 Million

On December 16, the Swiss Bankers Association published a list online which includes the names, last know addresses and nationalities of approximately 2,600 owners of safe-deposit boxes and accounts that…

Compliance Issues Foreign Tax Preparation Switzerland

Credit Suisse Agrees To $196 Million Settlement With The SEC

Credit Suisse Group AG agreed to pay $196.5 million and admit wrongdoing to settle U.S. Securities and Exchange Commission charges that it provided cross-border brokerage and investment advisory services to…

Foreign Country Filing Considerations Foreign Tax Preparation

IRS Requires US Banks to report $10 or More In Interest on accounts held by nonresident Aliens

January 13th 2014 – Federal District Court Upholds IRS Regulations Requiring Interest of $10 or More to Be Reported by US Banks for Accounts held by Nonresident Aliens. A petition…