Ex-UBS Banker Advocates for Whistleblower Protections

Former UBS banker turned whistleblower Bradley Birkenfeld has called for changes in the Swiss law to protect whistleblowers, as detailed in a recent interview with Bloomberg BNA. Birkenfeld was awarded $104 million in 2012 by the U.S. government for...

IRS Updates FATCA Foreign Asset Reporting Form 8938

The Internal Revenue Service recently released an updated version of the IRS Form 8938 “Statement of Specified Foreign Financial Assets”.   Taxpayers with offshore accounts or assets with values above various thresholds are generally required to file...

IRS Focus On Offshore Tax Non-Compliance

The Internal Revenue Service (IRS) has been ineffective in its collection of unpaid taxes from international U.S. taxpayers, according to a report published on September 30 by the Treasury Inspector General for Tax Administration (TIGTA). The report...

FATCA Causes Problems For U.S. Holders of Accounts in India

Increasing implementation of the Foreign Account Tax Compliance Act (FATCA) will soon cause problems for U.S. holders of unreported bank accounts in India, according to many tax analysts. FATCA is a recently-implemented U.S. law that requires foreign...