More Americans Giving Up Citizenship For Offshore Accounts

In July 2014, the Foreign Account Tax Compliance Act (FATCA) was officially implemented, which requires foreign banks to disclose the account information of U.S. taxpayers to the IRS for investigation.  The IRS collects this information on unreported...

Samuel Wyly to Pay $188 million for Offshore Tax Evasion

Wealthy entrepreneur Samuel Wyly and the estate of his deceased brother Charles have been ordered to pay the U.S. Government a total of $188 million plus significant interest for unpaid taxes on the proceeds from unreported offshore trusts under thei...