Tags » Foreign Account Tax Compliance Act

Swiss Banks Bank Zweiplus and Banca Stato Have Entered into Non-Prosecution Agreements under the DOJ’s Swiss Bank Program

Two more Swiss banks have reached resolutions with the Justice Department under its Swiss Bank Program. Yesterday, DOJ announced that bank zweiplus ag (Bank Zweiplus) and Banca dello Stato del Cantone Ticino (Banca Stato) have each entered into a non-prosecution agreement for any tax-related criminal offenses and agreed to pay a penalty of just over $1 million and $3 million, respectively. 940 more words

Criminal Tax

FATCA Update: IRS Issues Guidance Regarding Electronic Transmission of Forms W-8 and Updates Information Reporting Guides

The Internal Revenue Service has issued additional informal guidance regarding implementation of the Foreign Account Tax Compliance Act (FATCA). First, the IRS published a new… 374 more words


Three More Swiss Banks Resolve Their Tax Issues with the United States

The Justice Department continues to announce resolutions with banks under its previously-announced Swiss Bank Program. On August 6, DOJ announced the names of three more Swiss banks receiving non-prosecution agreements: Privatbank Reichmuth & Co., Banque Cantonale du Jura SA and Banca Intermobiliare di Investimenti e Gestioni (Suisse) SA. 1,714 more words


Bringing Black Money to Light: India's New Undisclosed Foreign Income and Assets Bill

Earlier this year, India’s Parliament passed a new bill aimed at unearthing “black money,” unreported and often illicit funds stored abroad as a means of tax avoidance. 1,552 more words


The Origins of FATCA

William Byrnes has authored more than 30 books addressing matters of taxes and finances that have moved over 100,000 combined copies. Williams Byrnes wrote his most recent book, the LexisNexis Guide to FATCA Compliance, which has become the financial industry’s desk reference handbook for addressing automatic exchange of information. 196 more words

William Byrnes

Is FATCA Legal?

There are movements afoot to question the legality of FATCA, enacted into law as part of the HIRE Act of 2010. I was asked how the United States could withhold money earned by and rightfully belonging to a foreign entity? 221 more words

Foreign Account Tax Compliance Act