FBAR Filing, Reporting, Amnesty – Tax Attorneys, Lawyers – FBAR Expert Settlement   1-866-700-1040

 
The federal government and the Internal Revenue Service has found a new revenue stream through FBAR reporting or lack thereof.
The Internal Revenue Service and the Department of Justice are having a field day ever since the government has opened the door for full compliance in FBAR Reporting.
It is been very apparent over the  last three years that the IRS is no longer fooling around and if taxpayers do not become in compliance with the new Fbar reporting and filing laws, a criminal investigation looms and hangs over their heads.
For the most part, IRS is been very lenient with this program but talks inside the agency speaks about the heavy hand of the Internal Revenue Service applying their criminal power to start to prosecute people who are no longer compliant in filing Fbars and amending their tax returns.
The Internal Revenue Service has collected nearly $6 billion in the last three years ever since their declaration against those not filing Fbar.
Do yourself a favor and find the IRS before the IRS find you. If you are one of those taxpayers who have this issue it  is your best interest to contact us today and speak directly do a tax attorney or tax lawyer who can help you through this situation settle your case.
 

You will find below the results of a recent case.

 
Preet Bharara, the U.S. Attorney for the Southern District of New York, and Victor S. O. Song, the Chief of the United States Internal Revenue Service (IRS) Criminal Investigation Division, announced today the filing of charges against seven individuals who collectively hid more than $100 million from the IRS by using sham companies to conceal their ownership of secret Swiss bank accounts held at UBS AG (UBS).
Two of those seven defendants, Jules Robbins and Federico Hernandez, pleaded guilty to separate criminal information’s filed today in Manhattan federal court and agreed to pay civil penalties of $20.8 million and $4.4 million, respectively. Robbins pleaded guilty before U.S. Magistrate Judge Ronald L. Ellis. Hernandez pleaded guilty before U.S. District Judge Denny Chin.
Charges also were unsealed today against five additional defendants: Kenneth Heller, Sybil Nancy Upham, Richard Werdiger, Ernest Vogliano and Shmuel Sternfeld. Upham, who surrendered this morning, was presented and arraigned before Magistrate Judge Ellis. Werdiger, who also surrendered this morning, is expected to be presented and arraigned before United States District Judge Paul G. Gardephe. Vogliano is expected to surrender to law enforcement authorities. Sternfeld and Heller remain at large.
According to the charging instruments unsealed today in Manhattan federal court, statements made in connection with the guilty plea proceedings involving Robbins and Hernandez, and other court documents:
For many years, UBS provided private banking services to U.S. taxpayers as part of its “U.S. cross-border banking business,” which employed approximately 60 UBS employees based in Switzerland.
From at least 2000 to 2008, UBS, through these employees, helped U.S. taxpayers conceal their Swiss-based assets, and the income earned on those assets, from the IRS.
UBS and the U.S. taxpayers, assisted by independent Swiss attorneys and financial advisors, hid these assets from the IRS by listing sham offshore companies as the account holders of UBS accounts, when in fact the U.S. taxpayers actually owned and controlled the accounts.
Four of the defendants – Upham, Heller, Vogliano and Sternfeld – removed their assets from UBS shortly after the publication of media reports in May 2008 that the Government’s criminal investigation of UBS might result in the disclosure of their unreported accounts to the United States Department of Justice.
Specifically to avoid this result, these defendants moved tens of millions of dollar collectively from UBS to smaller, lower-profile Swiss and Liechtenstein banks, hand-picked because they, unlike UBS, did not have offices in the United States.
Two of the defendants – Upham and Vogliano – repatriated funds from their UBS bank accounts to the United States by traveling or having a close family member travel from New York to UBS’s offices in Zurich, Switzerland, to pick up hundreds of thousands of dollars in cash or travelers checks and then return to the United States.
Under federal law, when filing Individual Income Tax Returns, Form 1040, U.S. taxpayers are obligated to report their worldwide income.
Additionally, taxpayers who have a financial interest in, or signature or other authority over, a financial account in a foreign country with an aggregate value of more than $10,000 at any time during a particular year are required to file with the IRS a Report of Foreign Bank and Financial Accounts (FBAR), as indicated on Schedule B of Form 1040.
The defendants are variously charged with conspiracy crimes, criminal tax offenses, and/or willful failure to file FBARs. The cases against each of the seven defendants are outlined below.
 
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FBAR Filing, Reporting, Amnesty – Tax Attorneys, Lawyers – FBAR Expert Settlement