Offshore and Foreign Bank Accounts
2016 IRS Representation Update
1. A CHANGING IRS IRS Workforce 1.10 Because of Congressional cuts in IRS budgets its…
Listen: Foreign Account Tax Reporting Act (FATCA)
Tax season is upon us, and Arnstein & Lehr’s Chicago partner Robert McKenzie helps shed…
Listen: Avoiding Penalties Through Voluntary Disclosure
The IRS has several programs in place, including the Offshore Voluntary Disclosure Program. Even those…
2014 IRS Representation Update
By: Robert E. McKenzie 1. A CHANGING IRS IRS Workforce 1.10 Because of Congressional cuts…
U.S. Taxpayers With Secret Offshore Money Face New Risks And Options
Taxpayers with offshore bank accounts might be in trouble. The Foreign Account Tax Compliance Act…
IRS OVDP vs. Streamlined: What To Do?
The IRS is encouraging U.S. taxpayers to come into compliance with their reporting and filing…
77,000 Foreign Banks to Share Tax Info With IRS
The IRS is cracking down on money hidden in foreign offshore banks accounts. The Associated Press…
Quoted in Forbes on Jail Terms for Offshore Accounts
Chicago tax lawyer Robert E. McKenzie worries those with still secret offshore accounts may be less likely to disclose because they figure that if they’re found out and prosecuted, they’ll avoid jail as Warner has. But McKenzie tells prospective clients the same thing he wrote recently on Forbes: “Many other less lucky offshore depositors have been sentenced to prison by other judges. One distinguishing factor for Warner was he was a billionaire whereas those sent to prison were merely millionaires.”
Quoted By Random House on Offshore Bank Secrecy
Hazlitt - The End of Banking Secrecy
Swiss Bank Secrecy Succumbs To U.S. Tax Enforcers
106 Swiss banks have signed agreements to provide information about U.S. account holders. "The current…