The Internal Revenue Service must improve communication with financial institutions to detect and prevent criminals from using stolen social security and tax identification numbers to claim a tax refund, according to U.S. officials.
Hundreds of Swiss bankers are suing to stop their old employers from turning over to the United States details of their interactions with suspected American tax evaders, according to a tax attorney.
Thirty-four nations disclosed a finalized model plan Monday to regularly share financial data for tax enforcement purposes as part of a broader crackdown on tax dodgers and offshore jurisdictions.
An influential Senate subcommittee will hear testimony on tax evasion through offshore banks, Switzerland agrees to follow automatic data exchange standards and more, in this week's news roundup.
The U.S. Justice Department seizes digital funds tied to an Internet black market, Republicans line up behind effort to fight FATCA and more, in this week's news roundup.
China prohibits the trading of bitcoins by financial institutions over money laundering concerns, the U.K. closes 100 suspicious Bank of Cyprus accounts, and more, in this week's news roundup.
Financial trade groups are asking the U.S. Treasury Department for more time to comply with intergovernmental agreements intended to shine a light on bank accounts held by American tax dodgers.
The IRS can serve broad summonses to five of the world's largest banks as part of an effort to collect data on American tax evaders, the Southern District of New York said.
A Geneva court's ruling clearing the way for bankers to know whether their employers have identified them to American investigators threatens to complicate a negotiated U.S.-Swiss tax deal, say sources.
Swiss financial institutions will likely exploit gaps in a bilateral agreement between the United States and Switzerland to preserve bank secrecy for their clients, says the bestselling author of a book on money laundering.
An expected pitch Friday by Switzerland's executive branch to clear the way for banks to share data with the United States is likely to face stiff domestic challenges, say Swiss attorneys.
A plan to require member-states of the European Union to automatically exchange tax-related data in an effort to boost government revenues is likely to face political and logistical challenges.
The indictment of a now-defunct Swiss financial institution and threatened charges against the country's largest publicly-owned bank fueled Switzerland's decision last month to seek a broad data-sharing agreement with American officials.
A plan approved Wednesday by Argentine lawmakers to entice tax dodgers to repatriate their assets will also motivate international bankers to ask questions of their counterparts in the country.
Italian prosecutors seize $10.5 billion from one of Europe's wealthiest families, a judge questions HSBC's agreement with the U.S. Justice Department, and more, in this week's news roundup.
A group of investigative journalists reveal the identities of thousands of suspected tax evaders, U.S. prosecutors increasingly turn to a civil fraud statute to prosecute money launderers, and more, in this week's news roundup.
The U.S. Internal Revenue Service's criminal division will open more investigations into members of an anti-government group that refuse to pay income tax, according to a senior agency official.
After over a year of negotiations with UBS AG, U.S. officials will have more leverage to reach a settlement with another Swiss bank that may have helped American citizens hide taxable assets.
Upcoming U.S. Treasury Department rules on a new law meant to curb tax evasion may mean only modest new compliance duties for American financial institutions, according to consultants.
U.S. investigators are increasingly relying on suspicious activity reports filed by depository institutions in their efforts to find tax evaders who hide their assets in foreign bank accounts.