Russian Sanctions

In the face of a growing list of sanctioned Russian individuals and companies and the possibility of more following Ukraine’s May 25 elections, there are several steps your company might take to help guard against heavy fines from unintended infringements. 1. Prepare for new sanctions: EO 13661 names financial services, energy, metals/mining, engineering, and defense…

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Swiss Banks Agree to Turn Over Bank Account Information

The U.S. Department of Justice has announced a program pursuant to which Swiss banks can turn over detailed information about their U.S. account holders in return for agreements that the banks will not be criminally prosecuted by U.S. tax authorities. Under the program, banks must disclose their cross-border activities and disclose accounts in which U.S.…

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Opportunity for US Non-resident Non-filers, Persons with Foreign Retirement Plans

By Jon Golub As promised by the Internal Revenue Service (“IRS”) notice, dated June 26, 2012 (see IR-2012-65) (the “June Notice”), it has created a new program to both (i) help United States taxpayers residing overseas to come back into tax compliance and (ii) assist United States taxpayers in cleaning up foreign retirement plan issues.…

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