• Beanie Babies Founder Ty Warner To Pay $53M For Offshore Tax Evasion
  H. Ty Warner, age 69, created Beanie Babies and spawned a generation of collectors. He created wealth for himself and others, since some of the plush stuffed animals became collector’s items worth thousands. But he did some of it in secret Swiss accounts and the IRS now stands to collect a $53 million fine. Charged with tax evasion, Mr. Warner has already said he’ll plead guilty. See DOJ Press Release. - See more at: http://www.mytaxfiler.com/blog/beanie-babies-founder-ty-warner-to-pay-53m-for-offshore-tax-evasion/#sthash.PJ8PteKM.dpuf
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• Beware Global IRS Reach – And Very Long Memory
  Does the IRS forgive or forget? Rarely, and when it comes to offshore accounts, even more seldom. - See more at: http://www.mytaxfiler.com/blog/beware-global-irs-reach-and-very-long-memory/#sthash.IPNWRtw4.dpuf
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• FATCA Blues? Opt Out Of IRS Offshore Program
  Anyone with undisclosed foreign accounts or income should get some advice and consider how to address the problem.
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• FATCA’s Bleak Choices For Accounts, Income, Disclosure
  Is any offshore income, account or trust still secret? The only safe assumption is no. And contrary to public opinion, it is not merely a prospective problem. Many equate the question solely to FATCA, the pervasive U.S. law enacted in 2010 that is now unfurling to impact global banks and depositors in 2014.
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• IRS Nets Offshore Data From 77,000 Banks, 70 Countries In FATCA Push
  An astounding 77,000 banks and financial institutions ? even some in Russia?have registered under FATCA - the Foreign Account Tax Compliance Act.
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• IRS not fully ready for law against offshore tax evasion: watchdog
  The Internal Revenue Service has spent 19 months and more than $8.6 million getting ready to enforce a new law against offshore tax evasion that takes effect next year, but the agency is still not prepared, a watchdog group said on Thursday. - See more at: http://www.mytaxfiler.com/blog/irs-not-fully-ready-for-law-against-offshore-tax-evasion-watchdog/#sthash.RDB7AMlS.dpuf
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• Is Filing Your First FBAR Admitting To A Crime?
  Is filing your first FBAR admitting to a crime? Hardly, but this is a common worry. Perhaps you learned only recently that you had to file annual FBARs for foreign accounts. Now that you do, should you file? See Should You File FBAR For The First Time?
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• Push for FATCA Agreements Continues With 12 Pacts Signed, More Under Way
  The push for agreements to implement the Foreign Account Tax Compliance Act continues as the U.S. government works with dozens of jurisdictions on pacts to facilitate information reporting on accounts held in foreign banks by U.S. taxpayers. - See more at: http://www.mytaxfiler.com/blog/push-for-fatca-agreements-continues-with-12-pacts-signed-more-under-way/#sthash.Lmi289ud.dpuf
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• Swiss Bank Frey To Close Over IRS Investigation
  Bank Frey’s “Truly Swiss, Truly Private” slogan could soon be “Truly Closed.” The bank is one of 14 under investigation for allegedly helping Americans evade taxes.
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• Trending Now: Giving Up U.S. Citizenship
  When CNN reports U.S. Citizens Ditching Passports in Record Numbers, it must be true. Like CNN’s election night coverage.
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• U.S. Inks FATCA Tax Deals With 9 Nations, Pursues 80 More During 6 Month Reprieve
  The war on tax evasion is no secret. It started with the U.S., which is still the big driver. But the war extends outward like the spokes of a wheel. And the spokes seem to be multiplying. Soon the wheel will look like a porcupine.
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• What To Say When (Not If) Your Offshore Bank Asks, ‘Are You Compliant With IRS?’
  More than 7 million Americans live abroad, and most have bank accounts there. Many other Americans have overseas bank accounts too. Most are receiving letters from their banks about their American status. - See more at: http://www.mytaxfiler.com/blog/what-to-say-when-not-if-your-offshore-bank-asks-are-you-compliant-with-irs/#sthash.Fyblyf0E.dpuf
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• What’s FATCA? Global Banking Meets NSA But Reports To IRS
  FATCA was quietly enacted in 2010 in a big messy bill called the Hiring Incentives to Restore Employment Act of 2010 (P.L. 111-147). Who names these bills? If you are paying higher healthcare premiums today, note that Obamacare is actually called the Affordable Care Act. And has any “Tax Simplification Bill” actually done it?
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