The Internal Revenue Service won't fully enforce FATCA -- the Foreign Account Tax Compliance Act -- in July 2014 as originally planned but will wait until 2015.
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Credit Suisse agreed last Friday to pay $196.5 million and admit wrongdoing to settle charges that it provided cross-border brokerage and investment advisory services to U.S. clients without first registering with the SEC.
On January 22, the ABA will host a panel discussion with the directors of three federal whistleblower programs: the SEC, CFTC and IRS. The program will provide an overview of the whistleblower programs and address hypothetical ethical situations often faced by whistleblowers and their attorneys.
The U.S. District Court for the Southern District of New York has authorized the IRS to issue summonses requiring five banks to produce records relating to the U.S. accounts they hold at certain institutions located abroad. The goal is to identify taxpayers who are trying to hide money overseas as a way to avoid federal taxes, the DOJ said Tuesday.