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Tax Evasion Archives

FATCA as an offshore game changer, part 2: many choose to enter OVDP

In the first part of this post last week, we noted the Treasury Department's postponement of some of the withholding requirements that the Foreign Account Tax Compliance Act (FATCA) will require of foreign banks on accounts held by U.S. taxpayers.

FATCA as an offshore game changer, part 1: withholding by foreign banks

Delays in implementing the Foreign Account Tax Compliance Act (FATCA) are nothing new. Writing about such delays today, the day after famed phrasemaker Yogi Berra died, one could rightly say that it's déjà vu all over again.

IRS seizes business accounts on accusations of 'Structuring'

The Internal Revenue Service has used a law that was designed to track cash to catch drug traffickers and terrorists to go after small business owners. The crime is structuring or depositing less than $10,000 cash in two or more deposits to avoid bank reporting requirements.