Managers of Wealth Americas

Bank Leumi Said to Be Near $400 Million US Tax Settlement

The bank’s provisions reflect its legal team’s most recent estimates of what it will need to pay

FATCA: Boris Won’t Pay His US Taxes

Love him or hate him, you have to say that Boris Johnson makes a very good point about FATCA.

Argentina charges HSBC with aiding tax evasion via Swiss accounts

Argentina's move comes as part of a global crackdown on undeclared funds held in offshore havens, after the global financial crisis strained government budgets and made the need to maximize tax receipts more pressing.

Even Non-Owner Signers On Offshore Accounts Face FATCA And FBAR Risks

Each U.S. citizen and permanent resident must report worldwide income to the IRS even when paying taxes elsewhere.

Insurers prepare to comply with tax rules for offshore accounts

Even as the insurance industry moves to meet the first reporting deadlines under the Foreign Account Tax Compliance Act, the law and compliance remain works in progress.

Israel’s Bank Leumi Boosts Provisions for U.S. Tax Probe

Bank Leumi Le-Israel Ltd. said it’s setting aside more cash to cover the costs of an investigation by New York’s banking regulator into whether the second-largest Israeli bank helped U.S. citizens evade taxes.

Paying Taxes 2015: The global picture

he study investigates and compares tax regimes across 189 economies worldwide using a case study company, and ranks them according to the ease of paying taxes.

Swiss banks asked to hand over more data in U.S. tax case

The U.S. Department of Justice has requested more information from around 40 Swiss banks taking part in a program to make amends for possibly aiding tax evasion by wealthy Americans

Barbados, U.S. sign tax accord

The government of Barbados signed an agreement under the U.S. Foreign Account Tax Compliance Act, known as FATCA, to combat tax evasion by foreign residents in the island.

Swiss banker charged in U.S. tax probe seeks bail before travelling

Stefan Buck, who remains in Switzerland and was head of private banking at Zurich-based Bank Frey, asked for an unusual hearing in which a judge in New York would proceed with the bail application in his absence.

Some companies pay CEOs more than Uncle Sam

Seven of the 30 biggest U.S. corporations paid their chief executives more than they paid in federal income taxes last year, the liberal-leaning Institute for Policy Studies and the Center for Effective Government found.

IRS Loses 'Lavish Spending Is Tax Evasion' Case, Big Spenders Rejoice

Electronic Arts founder Trip Hawkins may be feeling pretty good too after his court victory.

Big four audit firms behind global profit shifting

Little changed except the bookkeeping. Parts were still shipped from suppliers to a warehouse in Morton, Illinois, then shipped from the warehouse to independent dealers.

Compliance With FATCA ‘Inevitable,’ Says Withers

As a result, every US passport holder living in Kuwait is now responsible to pay taxes to the IRS

Impact of FATCA on BVI Entities

This publication provides a brief overview of the expected impact on entities incorporated in the British Virgin Islands (the “BVI”) of (a) the foreign account tax compliance provisions

U.S. lacked hard proof in tax trial of ex-UBS banker, jurors say

A federal jury in South Florida on Monday took a little over one hour to acquit Raoul Weil, who headed the Swiss bank's global wealth management unit, of conspiring to defraud the Internal Revenue Service.

Changing the Perception of Offshore Jurisdictions

The U.S.’s enactment in 2010 of the Foreign Account Tax Compliance Act , or Fatca, sent a jolt through the offshore industry.

Bank-Data Sharing Accord Expands Push to Find Tax Cheats

A status report on committed and not committed jurisdictions will be presented to G20 leaders during their annual summit in Brisbane, Australia on November 15-16.

Too Big to Tax: Settlements Are Tax Write-Offs for Banks

At the Justice Department, senior officials like to congratulate themselves on the headline-making, big bucks settlements they have imposed upon banks and lenders for their part in causing the 2008 mortgage meltdown that sparked the biggest American finan

FATCA: practical compliance for non-US private trust companies and their trusts

Compliance for a foreign trust with a foreign professional trust company as trustee is relatively straightforward.