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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Senate Hearing to Address Offshore Tax Evasion

Offshore tax evasion is a clear violation of tax law, and this topic will be the focus of a Senate hearing that will take place in the near future. Offshore tax evasion is a clear violation of tax law, and this topic will be the focus of a Senate hearing that will take place in […]

Author: Frank L. Brunetti

February 28, 2014

Offshore Tax Evasion

U.S., France Sign Intergovernmental Agreement to Combat Offshore Tax Evasion

The U.S. Department of the Treasury and the government of France have partnered up to combat egregious tax law violations carried out through the use of offshore accounts, the federal department said. The two countries have signed an intergovernmental agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA). IGAs have been instrumental in helping countries […]

Author: Frank L. Brunetti

November 25, 2013

U.S. Officials Granted Access to Bank Records in Tax Evasion Probe

A federal judge granted a request made by government officials to obtain the account data and identifying information of American banking clients suspected of committing tax law violations through offshore accounts managed by the Bank of N.T. Butterfield & Son. Butterfield currently has several offices throughout the Caribbean and Switzerland, and officials have long suspected […]

Author: Frank L. Brunetti

November 22, 2013

Offshore Tax Evasion

IRS Increases Scrutiny of Small Businesses

The Internal Revenue Service has initiated a large campaign to crack down on offshore tax evasion and other egregious tax law violations that could result in large recoveries of hidden tax income, penalties, and interest. However, the IRS is also increasing its focus on small business tax practices, even if the potential for recovering sizable […]

Author: Scarinci Hollenbeck, LLC

October 15, 2013

Offshore Tax Evasion

IRS Audits Suspended in Light of Government Shutdown

The Internal Revenue Service is not immune to the far-reaching effects of the government shutdown, and many key services and responsibilities may be delayed or temporarily suspended. Existing tax law requires that the federal agency continue to collect payments, interest, and penalties, regardless of whether the government is functioning at full capacity. However, those individuals […]

Author: Frank L. Brunetti

October 14, 2013

Treasury, IRS Delay FATCA Withholding Provision

Financial institutions around the world will have more time to comply with the Foreign Account Tax Compliance Act (FATCA) as the Internal Revenue Service and Treasury Department will delay implementation of the withholding provision until July 1, 2014. The agencies said high interest in the program from financial institutions prompted it to delay the program by six […]

Author: Frank L. Brunetti

July 24, 2013

Offshore Tax Evasion

Tax Evasion and Misuse of Trusts in List of 'Dirty Dozen' Tax Scams

The Internal Revenue Service released a list of the “Dirty Dozen” tax scams it would be focusing on in this year, and urges consumers and corporations alike to make note of these crimes. Offshore tax evasion was high on the list of infractions that the IRS is watching out for, and the agency has made […]

Author: Scarinci Hollenbeck, LLC

April 10, 2013

Israeli Banks May Be Target of U.S. Tax Evasion Case

The U.S. has entered into agreements with several countries to help curb the incidence of tax law violations on the part of Americans. While many foreign banks have admitted to facilitating Americans in hiding income, the U.S. government may soon set its sights on two Israeli banks for complicity in tax evasion. Zvi Sperling, an […]

Author: James F. McDonough

March 11, 2013

Court Rules UBS Owes No Money to "Tax Cheats"

UBS will not be required to pay damages to U.S. clients who were caught for tax law violations and forced to pay back taxes, interest, and penalties to the Internal Revenue Service. The 7th U.S. Circuit Court of Appeals in Chicago handed down the ruling, and scolded the “tax cheats” for seeking recovery in the “travesty” […]

Author: James F. McDonough

February 13, 2013

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