Posts tagged as:

Switzerland

Who Should the Rich Fear More Than IRS? WikiLeaks.

19 January 2011

Many wealthy taxpayers might have dodged a bullet following the IRS settlement agreements with UBS and Deutsche Bank… but they might be getting their day in the press after all courtesy of WikiLeaks. Rudolf Elmer, a whistleblower, has reportedly turned over the banking details of about 2,000 “high net worth individuals” and corporations to Julian [...]

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Gulf Spill Yields Tax Talk About Multinationals

5 July 2010

In the middle of all the “tax loopholes closing” that’s been going on in Congress, a big, fat one may have remained open. Sen. Max Baucus (D-MT), who chairs the powerful Senate Finance Committee, has opened an investigation into whether Transocean, Ltd., has been exploiting tax law loopholes by moving their headquarters overseas (spoiler alert, [...]

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Parliament Still Finding Holes in Swiss/US Accord

1 June 2010

A special panel of the Swiss Parliament has concluded its 15 month investigation into the government’s handling of what has been referred to as a “tax crisis”: the UBS collapse amid allegations of tax evasion. The panel has heavily criticized the government for its response to the crisis, saving its harshest rebukes for Finance Minister [...]

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UBS Set To Turn Over First Set of Names

25 November 2009

About 500 families may have a little bit less to be thankful for this morning: Swiss tax authorities have announced that they have notified the first UBS 500 clients whose names will be turned over to US government officials. The 500 clients are the first of 4,450 names to be released under an agreement reached [...]

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So Tell Me, Taxpayer: Do You Feel Lucky?

18 November 2009

It was a question posed to US taxpayers by the IRS in the wake of the UBS scandal: do you feel lucky? The US offered US taxpayers the opportunity to voluntarily disclose offshore bank accounts as part of an amnesty program earlier this year. The choice? Come forward now and escape criminal prosecution or take [...]

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Singapore, Liechtenstein No Longer Gray

16 November 2009

Who says that a little pressure doesn’t work these day? Singapore and Liechtenstein have both apparently decided that they wanted to be one of the cool kids after all. This week, both countries received word that they are slated to be removed from the dreaded gray list of the Organisation of Economic Cooperation and Development [...]

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Tax Havens Suddenly Not All the Rage

11 November 2009

Suddenly, it’s not so fashionable to have your money in Swiss banks. That’s sooo February 2009. This season, all of the trendy tax evaders are heading somewhere else. In the wake of increased activity by IRS to track down previously undisclosed assets (joined by the taxing authorities in countries like the UK and Germany), banks [...]

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And The Most Secretive Financial Jurisdiction in the World Is…? (Hint: there’s no cheese involved)

2 November 2009

The Tax Justice Network has recently released its list of the most secretive financial jurisdictions in the world. And who topped the list? Luxembourg? Switzerland? Hong Kong? Caymans? Nope, it’s the United States. Yeah, of America. But don’t get too excited with your finger pointing. It has little to do with most of the US. [...]

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IRS Plays Chicken with Taxpayers

19 August 2009

Remember that great scene in the movie Footloose when Kevin Bacon is challenged to a game of chicken on the tractor? It seems that the IRS is playing a little chicken of its own with taxpayers… The IRS has entered into a settlement with UBS to divulge the names of about 4,450 account holders at [...]

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More Tax Haiku

13 August 2009

Maybe it’s summer. Maybe it’s my grief over the UBS saga finally ending. Or maybe I’ve just been inspired by 1LPoet to find my inner poet. But it’s that time again. I feel some tax haiku coming on… In honor of today’s post: Oh Connecticut. Your tax burden is so high. Thank God for Jersey. [...]

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