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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: tax evasion

tax evasion stories: 49 news summaries

1 - 20 of 49 Stories | 1 2 3 Next >>

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15K Yanks Turn Selves in
for Offshore Tax Cheating

Asia joins Switzerland as hotspot for hidden assets

Nov 18, 09 9:57 AM CST
(Newser) - Prodded by the stick of a looming crackdown on offshore tax cheats and the carrot of an IRS amnesty program, some 14,700 rich Americans have turned themselves in, disclosing billions in hidden foreign assets. The "unprecedented" participation in the amnesty program surprised the IRS and advisers to the... More »

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IRS • Switzerland • tax evasion • tax fraud • assets • IRS amnesty program • offshore tax cheat • Asia hidden asset • IRS Beijing office

Neutral Swiss Becoming
US Lapdogs, Critics Charge

'Active neutrality' policy questioned after Polanski, UBS decisions

Oct 13, 09 7:06 AM CDT
(Newser) - Some Swiss politicians are griping that the country's prized neutrality appears to be sliding as the government adopts a more accommodating stance toward US authorities. The government agreed in August to turn over the names of thousands of suspected American tax dodgers banking with UBS, and Roman Polanski was busted... More »

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diplomacy • Switzerland • UBS • tax evasion • Roman Polanski

Tax Collectors Use MySpace, Google to Find Deadbeats

Public profiles can provide valuable income information for revenue agents

Aug 27, 09 3:31 PM CDT
(Newser) - Internet-savvy state tax collectors are using a new tool in tracking down evaders: social networking websites. Tax collectors are taking advantage of the fact that an individual’s MySpace or Facebook profile often contains quite a bit of professional information, the Wall Street Journal reports. Agents in Nebraska, for example,... More »

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social networking • Google • MySpace • IRS • Facebook • tax evasion • income • Internal Revenue Service • tax fraud • state governments • state budgets • social media

(Newser) - UBS will hand over the names of 4,450 of its American account holders as part of a tax evasion settlement, the Wall Street Journal reports, and another 5,000 names will be produced under a special IRS amnesty program. UBS won’t pay a monetary fine. Those being... More »

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Switzerland • UBS • tax evasion • settlement • tax haven • Swiss bank

(Newser) - The IRS and Justice Department crackdown on UBS is widening, reports the Wall Street Journal, as new documents reveal the efforts the bank took to keep its clients' wealth away from the taxman. Two recent cases have relied on channeling millions to a Swiss account owned by a Hong Kong-based... More »

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IRS • Hong Kong • UBS • tax evasion • corporations • tax fraud • Swiss bank • bank secrecy

(Newser) - Swiss bank UBS AG has agreed to a settlement with the US to resolve a lengthy tax evasion probe, the Wall Street Journal reports. The details are currently under wraps, as the final documents await signatures. UBS will likely hand the IRS the names of  8,000 to 10,... More »

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Department of Justice • Switzerland • UBS • tax evasion • lawsuit • tax shelter

Tax Cheats Flood IRS,
Looking to Come Clean

Inquiry into Swiss banks leads hundreds of evaders to come clean

Jul 30, 09 9:07 AM CDT
(Newser) - A crackdown on tax evasion has led to a flood of wealthy Americans lining up to reveal their offshore accounts to the IRS, reports the Wall Street Journal. A limited-time offer of lower fines, coupled with the ongoing probe of Swiss bank accounts held by UBS, has produced a stampede... More »

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IRS • UBS • tax evasion • clemency • Internal Revenue Service • Swiss bank • bank secrecy

(Newser) - Aiming to avoid an ugly international dispute, the US government, Switzerland, and a Swiss bank are seeking to delay a hearing over private bank accounts, the Wall Street Journal reports. The respite would give government officials and UBS until August to strike a deal over data on some 52,000... More »

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Department of Justice • fraud • IRS • federal courts • Switzerland • UBS • tax evasion • bank

Nev. Newspaper Defends Commenters' Anonymity

Review-Journal, ACLU fight subpoena for commenters' identities

Jun 16, 09 4:34 PM CDT
(Newser) - A tax-evasion trial has sparked a free-speech controversy at the Las Vegas Review-Journal. The paper has declined to honor a federal subpoena demanding the identities of everyone who commented on an article on the trial. Businessman Robert Kahre faces tax-fraud charges for hiding the real value of sales of gold... More »

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Internet • free speech • ACLU • tax evasion • subpoena • Internal Revenue Service • tax dodge • inappropriate comments • commentary • Las Vegas Review-Journal

 British MP Billed 
 Taxpayers for 
 'Servants' Wing' 

Tory then sold house and evaded capital gains tax

May 28, 09 7:49 AM CDT
(Newser) - Just when the scandal over British MPs' expenses seemed to be petering out comes news that a Conservative legislator charged taxpayers $27,000 to build servants' quarters at his second home, the Times of London reports. Sir John Butterfill told the BBC the suggestion he had servants was a "... More »

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United Kingdom • British Parliament • tax evasion • Conservative Party • inappropriate expenses • staff • expenses

(Newser) - Offshore tax havens may not be fair, but they’ve been around for decades. So why is President Obama taking them on now, Clinton Labor Secretary Robert Reich asks in Salon. It’s not to try to keep jobs here, as the White House claims; the move might even drive... More »

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Barack Obama • universal health care • tax evasion • Robert Reich • tax breaks • tax haven • Obama administration • President Obama

 White House Takes Aim 
 at Offshore Tax Dodges 

The Obama Administration will unveil details of its tax-haven crackdown today

May 4, 09 7:35 AM CDT
(Newser) -  White House plans to curb offshore tax avoidance will be rolled out today, the Wall Street Journal reports, with the target on both US multinationals and wealthy individuals who are sheltering an estimated $700 billion in US earnings overseas. The plan takes particular aim at “deferral,” which... More »

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Barack Obama • tax evasion • tax breaks • tax code • tax haven • Timothy Geithner

UBS Refuses to Hand Over Names of US Tax Cheats

Bank charges IRS is trying to trample on Swiss laws

May 1, 09 3:18 AM CDT
(Newser) - Swiss bank UBS has rejected a demand from the IRS that it cough up the names of 52,000 suspected American tax evaders, the Times of London reports. The bank—which paid out $780 million to avoid prosecution for helping rich Americans dodge their taxes—said the lawsuit by the... More »

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IRS • Switzerland • UBS • tax evasion • Internal Revenue Service • Swiss bank • offshoring

ANALYSIS

 What If I Don't Feel Like Filing? 

Christopher Beam explores the potential evader's options

Apr 15, 09 2:08 PM CDT
(Newser) - With millions of Americans enduring long lines at the post office today to file their tax returns, Christopher Beam of Slate can’t help wonder: What would happen if you simply didn’t file? The answer is probably not much—7 million Americans declined to file last year, and only... More »

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taxes • IRS • income tax • business • tax evasion • audit • federal income tax • Wesley Snipes

UBS Announces $1.7B More
 Losses, 8,700 Job Cuts

Bank blames US tax fraud case for some of its 1Q losses

Apr 15, 09 7:52 AM CDT
(Newser) - Bad times are continuing for UBS in the wake of last year's record loss, the Guardian reports. The troubled Swiss bank reported a $1.75 billion loss in the first quarter, and announced plans to ax 8,700 employees—11% of its global workforce—sparking rumors that it plans to... More »

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layoffs • Switzerland • UBS • earnings reports • tax evasion • bank • banking • tax haven

Report: US Loses $100B Yearly to Tax Havens

Tax Day release highlight burden tax-dodging firms put on taxpayers

Apr 15, 09 6:49 AM CDT
(Newser) - Corporations stashing their cash in tax havens cost the US—and ordinary taxpayers who shoulder the burden instead—$100 billion every year, the Huffington Post reports. A new report breaks down the loss through "shell companies and sham headquarters" by state, finding that the people of New York are... More »

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taxes • tax evasion • Cayman Islands • tax dodge • tax haven

(Newser) - In an effort to increase revenue, the Internal Revenue Service is relaxing penalties on offshore tax evaders in hopes they will come forward, the New York Times reports. A penalty that was 50% of offshore holdings will drop as low as 5%. “They need to get money back into... More »

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taxes • IRS • UBS • tax evasion • Internal Revenue Service • Federal government • penalty • offshore

OPINION

Time to Forget AIG and Nab Offshore Cash

We're fretting about millions in bonuses, while firms hide billions

Mar 23, 09 11:40 AM CDT
(Newser) - Everyone’s aflutter about the AIG bonuses—but there’s a much more lucrative way to take Wall Street to task than obsessing over $165 million, writes Joe Conason in Salon. The government should instead focus on the billions that financial firms are putting in offshore tax havens. Corporate tax... More »

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Wall Street • tax evasion • bank • AIG • corporate America • tax haven

(Newser) - Switzerland might not be a haven for tax evading ne’er-do-wells for much longer. The country agreed today to ease its banking secrecy laws, eliminating the distinction between tax fraud and tax evasion on foreign accounts. Previously, the Swiss cooperated with foreign governments only on tax fraud, which is a... More »

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Switzerland • tax evasion • tax fraud

Liechtenstein to Open Tax Books; Pressure's on Swiss

International pressure bends EU nation, but Switzerland is the prize

Mar 12, 09 8:46 AM CDT
(Newser) - Liechtenstein, bowing to international pressure, said today it would adopt international standards on transparency in tax matters, turning the screws on other tax havens like Switzerland, the New York Times reports. Yesterday, the Organization for Economic Cooperation and Development added Switzerland, Luxembourg, and others to a list of tax havens... More »

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taxes • European Union • Switzerland • tax evasion • Liechtenstein • G20 • transparency

1 - 20 of 49 Stories | 1 2 3 Next >>


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