Friday, May 23, 2014

Tax whistleblower news summary for week of May 19

Credit Suisse has agreed to pay $2.6 billion to the U.S. government, the highest fine ever paid in a criminal tax case by a bank. Credit Suisse pleaded guilty to helping U.S. taxpayers file false claims and evade taxes. Credit Suisse admitted to destroying documents and setting up fake accounts to help U.S. citizens avoid taxes. Another story: “Credit Suisse Fined $2.5 billion After Pleading Guilty to U.S. Tax Charge.”

The U.S. Tax Court will allow three IRS whistleblowers to remain anonymous as they appeal IRS decisions about their rewards. Two of the whistleblowers are allowed to maintain the seal on their complaints -- meaning their identities aren’t publicly known – because the judge agreed their fear of physical repercussions is justified. The third whistleblower argued that his identity should remain confidential to prevent financial retribution by the defendant. 

Wednesday, May 14, 2014

Tax whistleblower news summary for week of May 12

Credit Suisse, which has been under investigation by the Department of Justice, may pay up to a $2 billion fine to resolve charges of tax evasion. (Reuters)

Friday, May 9, 2014

Tax whistleblower news summary for week of May 5

A former Credit Suisse employee pleaded guilty to helping wealthy American clients hide untaxed income in Swiss bank accounts. U.S. authorities continue putting pressure on Credit Suisse to plead guilty to the same charges. (Reuters)

The IRS is investigating Caterpillar Inc.’s overseas transactions that saved the company over $2 billion in taxes from 2000 to 2012. (Bloomberg)