Category Archives: Offshore Bank Accounts

Wegelin & Co, the oldest Swiss private bank, announced on January 3rd it would be closing after more than 2 ½ centuries. This closure is following its guilty plea to charges of helping Americans evade taxes through secret accounts. It is the first foreign bank to plead guilty to U.S. tax charges. The bank admitted […]

Recently The Fourth Circuit Court of Appeals made a controversial decision regarding willfulness as it applies to FBAR obligations. United States v. Williams, No. 10-2230 (4th Cir. July 20, 2012). This ruling may add risk to opting out of the Offshore Voluntary Disclosure Program or disclosing foreign bank accounts late without entering into the Offshore […]