Managers of Wealth Americas

IRS Names Names - Taxpayers with Foreign Accounts at These Banks Only Have Days to Avoid Huge Penalties

The IRS and Justice Department are cracking down on unreported foreign bank accounts

Last Call To Dodge the IRS's Crusade Against 'Offshore' Accounts?

Agents at the IRS have been quietly rubbing their hands together in anticipation of July 1.

Tax inversions: why Britain's companies are being pursued by US rivals

UK firms are targets for American giants hoping to escape punitive rates, writes Ben Marlow

US announces changes to the Offshore Voluntary Disclosures Programs

On 18 June the US Internal Revenue Service (IRS) announced major changes to its offshore voluntary compliance programs, resulting in new guidance for both taxpayers overseas and those residing in the US.

IRS Increases Offshore 'Amnesty' Penalty From 27.5% To 50%

Americans living abroad and certain others who can now come within the IRS Streamlined Program.

US tax case deal to trigger Swiss bank consolidation

An expected resolution to the US tax evasion probe into Swiss banks will likely be a catalyst for consolidation in the country's private banking industry.

The banks in Romania present the US IRS information about the Americans’ accounts

The Romanian authorities accepted the inclusion on the list of countries with agreement of 2 April 2014, according to the American Treasury.

US Congress to deny federal contracts to Bermuda-based offshore companies — plan

Bermuda has again been singled out and labelled “a tax haven” by US legislators as they last week attached an amendment to US federal funding measures, seeking to block federal contracts to former American companies involved in corporate inver

Companies that use offshore tax havens are big Capito donors

These subsidiaries are often shell companies with few employees and no real business activity

New deadline for Swiss Bank Disclosures - 31 July 2014

On 5th June, the United States Department of Justice (DOJ) extended some information reporting deadlines for Swiss credit institutions that have sought to participate in its tax regularisation programme to secure a non-prosecution agreement.

Most of Fortune 500 Used Offshore Tax Havens

The most profits officially booked offshore, and the most success in avoiding paying corporate income taxes to any government at all. They include prominent corporate titans such as American Express, Apple, Bank of America and Nike.

Offshore Bank Letters, FATCA, & IRS Penalties---Are Any Choices Left?

Failing to respond in any way is likely to mean the bank will close your account

South Africa, US sign tax agreement

An intergovernmental agreement to improve international tax compliance was signed by South Africa and the United States on Monday.

Britain becomes haven for U.S. companies keen to cut tax bills

Nothing about the narrow cream-colored lobby at 160 Aldersgate Street in the City of London financial district gives a hint of its role at the center of the offshore oil industry.

IRS to make US offshore tax amnesty scheme less harsh

The OVDP gave US citizens the opportunity to voluntarily reveal their undisclosed offshore accounts

Israel's Bank Leumi 'close to deal' over U.S. tax probe

Bank Leumi has urged U.S. clients to disclose information about their accounts to the U.S. authorities, who are investigating Leumi and other foreign banks in a wide-ranging campaign to crack down on Americans using offshore banks to evade taxes.

The Islands Treasured by Offshore Tax Avoiders

Did you know that United States companies earned $129 billion in 2010 in three small groups of islands?

Russia’s VTB Will Stop Services for U.S. Taxpayers to Curb Risks

The Group of Seven leading economies yesterday put off the threat of further sanctions

Developing Countries Not Ready to Enforce Global Tax Evasion Rules

We are living in the golden age of global tax reform.

Developing Countries Not Ready to Enforce Global Tax Evasion Rules

The OECD has also developed a proposal for the automatic exchange of tax information