Much has been said about the Washington-announced amnesty for holders of undeclared offshore assets, but one expert says the states’ offers may be more attractive.
As the new administration continues to pursue individuals and institutions who it believes are implicated in hiding assets from the IRS, President Obama has explained the process will boost economic growth and jobs at home.
A Swiss bank at the center of U.S. tax authorities’ investigation into secret offshore accounts has asked a U.S. court to reject demands by the IRS for confidential information about its American clients.
At the Summit of the Americas, representatives of Caribbean countries have called on America and Britain not to threaten their financial services industry during difficult economic times.
The Justice Department has asked a federal court to allow the IRS to obtain information about taxpayers who use offshore accounts, and Swiss banks have announced they will be scaling down their discreet banking services.
The Internal Revenue Service (IRS) has announced it will offer leniency to Americans who come forward with assets invested in offshore accounts.
Politicians gathered at the G20 summit in London have vowed to crack down on tax havens by introducing cross-border regulation.