by Jacob Stein | Jun 9, 2010 | Attorney Blogs, Blog
A week after the upper house of the Swiss parliament voted to allow disclosure of UBS clients to the US government, the lower house of Switzerland’s parliament voted to prevent the disclosure of the names and financial secrets of as many as 4,450 Americans who held...
by Jacob Stein | May 12, 2010 | Attorney Blogs, Blog
The quagmire involving US taxpayers with unreported foreign bank accounts continues. The latest word: IRS has over 200 dedicated agents conducting audits of those taxpayers who voluntarily disclosed them prior to the October 15, 2009 deadline. These agents are...
by Jacob Stein | Apr 13, 2010 | Attorney Blogs, Blog
The Hiring Incentives to Restore Employment (HIRE) Act (Pub. L. No. 111-14) was signed into law on March 18, 2010. The Act creates tax breaks for businesses hiring new workers and extending higher expensing limits for small businesses that make capital investments....
by Jacob Stein | Mar 1, 2010 | Attorney Blogs, Blog
On January 22, 2010 the Swiss Federal Administrative Court published its first judgment with respect to the IRS’s request for information. The case relates to a UBS client who failed to provide the bank with a Form W-9. The Swiss Court ruled against the IRS and...
by Jacob Stein | Oct 16, 2009 | Attorney Blogs, Blog
As the October 15 deadline has come and gone, more and more of our clients have reported receiving letters from UBS. These letters advise clients that after an initial investigation, UBS has determined that the client’s account will likely be disclosed to the IRS....
by Jacob Stein | Sep 22, 2009 | Attorney Blogs, Blog
The Internal Revenue Service has extended the deadline to participate in the FBAR amnesty program to October 15, 2009, and has indicated that there will be no more extensions. Most of the clients that we have consulted declined to participate in the amnesty, but it...
