IRS Requiring Taxpayers to File FBARs Electronically Raises Concerns About Delinquent Filing and Offshore Voluntary Disclosure Program

09/23/13

In recent years, the United States government has intensified its efforts to collect taxes on income generated by offshore bank accounts and financial holdings. A key tool in these enforcement efforts is a provision under the Bank Secrecy Act requiring United States persons (generally U.S. citizens, green card holders, or individuals spending a certain number of days in the United States within the last three years), or non-resident aliens located and doing business within the United States, to disclose annually to the Treasury Department a financial interest in, or signature authority over, a foreign financial account (including bank accounts, brokerage accounts, mutual funds, trusts, or other types of foreign financial accounts). Learn More →

Tax Practictioners Report Increase in Summons Issuance; IRS Issues New Guidance on Informal Document Requests

09/19/13

Tax practitioners have reported an increase in the issuance of IRS summonses in recent months, despite statements from the IRS … Learn More →

U.S. Department of Justice & Swiss Federal Department of Finance Enter into Historic Agreement Regarding Tax Evasion Investigations

09/18/13

Continuing its mission to eradicate offshore tax evasion, on August 29, 2013, the United States Department of Justice Tax Division … Learn More →

FDA Regulatory Update: What Does “Natural” Mean? Courts Divided on Whether to Seek FDA’s Input

09/16/13

As we previously reported here, here, and here, consumer litigation challenging “natural” and Genetically Modified Organisms (“GMOs”) advertising and labeling … Learn More →

Litigation Outlook: Sender Beware: Texting a Driver May Impose Liability on the Sender

09/04/13

Last year, we wrote about the corporation’s responsibility to put a stop to the employee’s dangerous and potentially fatal habit … Learn More →