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Edgar Paltzer

U.S. Seeks FBAR Related Forfeiture Of $12 Million

Wed, 2014-04-16 19:35

On April 8, 2014, the U.S. government filed a Complaint seeking forfeiture of $12,234,646.79 in United States Currency (hereafter, the "Defendant Currency")[1]. Just when many thought the Zwerner[2] matter set the civil high bar for what might possibly go wrong with respect to an undisclosed interest in a foreign financial account, along comes U.S.A. vs. Approximately $12,000,000 in United States Currency[3] displaying yet another powerful tool in the U.S. governments international enforcement arsenal.

Swiss Bank Frey To Close Over IRS Investigation

Fri, 2013-10-18 03:09
Journalist: 

(Photo credit: Wikipedia) Bank Frey's "Truly Swiss, Truly Private" slogan could soon be "Truly Closed." The bank is one of 14 under investigation for allegedly helping Americans evade taxes. The bank's statement says its shareholders want to cease operations. The bank cites tighter rules on U.S. clients and its dispute with

Swiss Bank Frey To Close Over IRS Investigation

Fri, 2013-10-18 03:09

Bank Frey's "Truly Swiss, Truly Private" slogan could soon be "Truly Closed." The bank is one of 14 under investigation for allegedly helping Americans evade taxes. The bank's statement says its shareholders want to cease operations. The bank cites tighter rules on U.S. clients and its dispute with U.S. authorities.

As U.S. Settlement For 300 Swiss Banks Dawns, Prosecution Risks Remain

Fri, 2013-04-19 15:11
Journalist: 

The Swiss and U.S. governments are evaluating a deal over Swiss banks accused of helping Americans avoid paying taxes. A deal isn't imminent but reports suggest that over 300 Swiss banks could be broken into tiers. More serious enablers of evasion may get more serious raps on the knuckles.

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