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Offshore Tax Evasion - The IRS and Swiss Banks - UBS Client Indictments 2009-2014

 
Offshore Tax Evasion - The IRS and Swiss Banks - UBS Client Indictments 2009-2014

“Jan. 14, 2014 — H. Ty Warner was sentenced to two years’ probation for tax evasion. Warner has paid more than $53 million in a civil penalty, as well as approximately $27 million in back taxes and interest.

Sept. 24, 2013 — Stephen M. Kerr and Michael Quiel were each sentenced to 10 months in prison. Stephen M. Kerr and Michael Quiel were convicted of failing to disclose secret offshore bank accounts in Switzerland. Kerr and Quiel, prominent Phoenix businessmen, were each convicted of two counts of filing false individual income tax returns for 2007 and 2008. Kerr was also convicted of two counts of failing to file a Report of Foreign Bank and Financial Accounts (FBAR).

July 16, 2013 — Peter Troost, of Skokie, Ill., was sentenced to 12 months and a day in prison for evading taxes on more than $3 million held in offshore UBS accounts. Troost has already paid over $1 million in back taxes, as well as a civil penalty of approximately $3.75 million.”

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Our author, Gary S. Wolfe, has more than 34 years of experience, specializing in IRS Tax Audits and International Tax Planning/Tax Compliance, and International Asset Protection.

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