Senate Hearings and Department of Justice/IRS Actions Likely to Drive up Reports of Foreign Banks and Financial Accounts (FBAR)

On February 26, 2014, the Senate Permanent Subcommittee on Investigations held a hearing on "Offshore Tax Evasion: The Effort to Collect Unpaid Taxes on Billions in Hidden Offshore Accounts” (The Permanent Subcommittee on Investigations-Hearings-2/26/14).

Continue ReadingSenate Hearings and Department of Justice/IRS Actions Likely to Drive up Reports of Foreign Banks and Financial Accounts (FBAR)

IRS Criminal Investigation Issues Annual Report: 18% Gain in Prosecutions and Convictions Rose More Than 25% Compared to the Prior Year

It was announced by the Internal Revenue Service on February 24, 2014 (IR-2014-18) that the Criminal Investigation Division (CI) has released its Annual Report for Fiscal Year 2013 (IRS-CI Fiscal Year 2013 Annual Business Report).

Continue ReadingIRS Criminal Investigation Issues Annual Report: 18% Gain in Prosecutions and Convictions Rose More Than 25% Compared to the Prior Year