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Archive by Month: November 2015

New Jersey Tax Evasion Attorney Discusses India’s Acceptance of FATCA

Offshore Account Update

Posted in on November 27, 2015

The United States government requires U.S. citizens to report all of their offshore investments and accounts, even when citizens live abroad and have accounts in the location where they reside.  Annual reports of offshore accounts must be filed according to the requirements set forth in the Foreign Account Tax Compliance Act (FATCA).  To ensure no accounts slip through the cracks and that the government is aware of all accounts owned by U.S. citizens, the government has also been moving forward with establishing intergovernmental agreements for the exchange of information under FATCA.

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Offshore Bank Amnesty, Société Générale Private Banking

Offshore Account Update

Posted in on November 13, 2015

There is currently an amnesty program allowing offshore banks to come forward and report their involvement in helping U.S. accountholders to evade tax obligations. There is also an amnesty program allowing individuals to come forward, report their own failures to report offshore accounts and pay a penalty.  

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