openPR Logo
Press release

Another Swiss Bank Exposes Unreported Off-Shore Account Holders to the IRS

With Credit Suisse reporting offshore bank accounts to the IRS, leading tax relief firm Tax Resolution Services, Co. advises non-compliant offshore account holders to come clean NOW or ELSE!

Encino, CA, November 22, 2011 -- Credit Suisse Group AG announced Tuesday, November 8, 2011 that it was handing over to the IRS the names of offshore bank account holders suspected of tax evasion. Responding to the urgency of this information, Tax Resolution Services, Co. (TRS) the nation's leading tax relief firm, is advising offshore bank account holders who missed the recent tax amnesty deadline (for voluntary disclosure) that they can still get tax help, but need to act now. Offshore bank account holders who have not disclosed funds to the IRS shouldn't feel discouraged, knowing that it's better late than never to report undisclosed accounts to the IRS. However, it is critical to report undisclosed offshore accounts with support of certified tax resolution specialist or tax attorney with expertise in offshore FBAR (Foreign Bank and Financial Accounts) regulations to stand a better chance of a reduction of the severe IRS penalties levied on undeclared funds in overseas bank accounts.

Credit Suisse, the second largest bank in Switzerland, followed UBS's lead and handed over client account details; the second Swiss bank to do so in the last two years. This action demonstrates how banks worldwide are caving under IRS pressure to collect from institutions it believes are sheltering taxes from wealthy American citizens. News agencies such as Reuters, Bloomberg and the Wall Street Journal reporting on the Credit Suisse announcement all commented on the aggressive nature of recent US tax collection attempts and quite possibly this as the beginning of the end of tax havens.

Tax Resolution Services, Co., Founder and CEO, Michael Rozbruch advises clients with off-shore holdings that it's always better to report income to the IRS than try to hide it, late or not. "As the latest crackdown regarding offshore bank accounts shows, no one is safe from IRS reach - they're more motivated than ever to investigate and force into compliance wealthy individuals, both at home and overseas. It is imperative for those individuals who have not already reported, to do so now, because doing nothing has them looking at severe fines, penalties and possible criminal prosecution and indictment" states Rozbruch.

Americans commonly hold foreign bank accounts, especially if they conduct business internationally and must report all income from both domestic and foreign sources on their U.S. Tax Forms. Those who have a financial interest in or signature authority over foreign accounts are required to file a Report of Foreign Bank and Financial Accounts (FBAR) form if the combined value of their financial accounts exceeds $10,000 during the calendar year. Not adhering to these rules and regulations can find an unwitting taxpayer in trouble with the IRS.

"Offshore account holders must understand the requirements for foreign bank accounts and follow procedures to ensure they get favorable treatment from the IRS" states Rozbruch. "Having an expert can save time, headache, money and possible jail time. Coming forward before the IRS is not something you do alone especially in cases regarding off-shore tax evasion; they're complicated and the stakes are just too high to properly present your case. A tax attorney, tax resolution specialist or CPA, takes over all communications with the IRS for you, makes the required disclosures, files FBAR reports and amends tax returns typically for 2003 through 2008" emphasizes Rozbruch.

Credit Suisse may be the latest bank to concede to U.S. Government's efforts to collect from tax evaders, but is not likely the last. The need for expert tax help to safely and securely navigate the treacherous waters of IRS compliance is highly emphasized as more financial institutions give in to IRS pressure to expose their tax shelters.

To learn more about Tax Resolution Services' support services in reporting offshore bank accounts, visit

Tax Resolution Services, Co.®, the nation's leading experts in tax negotiation and mediation®, is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. For more information or to receive a FREE tax relief consultation, visit or call 888-851-5894.

Debbie Edwards
Tax Resolution Services, Co.
Encino Business Park IV
6345 Balboa Blvd, Suite 285
Encino, Ca. 91316

With Credit Suisse reporting offshore bank accounts to the IRS, leading tax relief firm Tax Resolution Services, Co. advises non-compliant offshore account holders to come clean NOW or ELSE!

Debbie Edwards
Tax Resolution Services, Co.
Encino Business Park IV
6345 Balboa Blvd, Suite 285
Encino, Ca. 91316

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Another Swiss Bank Exposes Unreported Off-Shore Account Holders to the IRS here

News-ID: 201567 • Views: 1229

More Releases from Tax Resolution Services, Co.

Wealthy Americans are the IRS’s Largest Target
Tax Resolution Services, Co. advises the $1 million-plus IRS audit targets to have certified tax resolution representation on their side if audited or already under audit. Encino, CA, January 24, 2012 -- Recent reports show that Americans earning over 1 million dollars per year are a greater IRS audit target than someone earning less than $200,000 a year. According to a recent article in the LA Times, million-plus earners were audit
Los Angeles Business Journal Awards Tax Resolution Services, Co. as one of the F …
Leading Tax Relief Firm, Tax Resolution Services, Co. Ranks No. 37 on the 2011 Regional List by Award-Winning Southern California Publication. Encino, CA, November 23, 2011 -- On November 21st, the Los Angeles Business Journal named Tax Resolution Services, Co. one of the Fastest Growing Private Companies on their exclusive list. Tax Resolution Services ranked No. 37 along with 100 local private companies. The Los Angeles Business Journal Fastest Growing Private Companies
Reputable Tax Resolution Professionals Defend Industry Under Scrutiny
Tax resolution industry leader Michael Rozbruch of Tax Resolution Services, Co. recently quoted in article defending the ethical players in the tax resolution industry. Encino, CA, October 28, 2011 -- In a recent article written by Tax Analysts Document Service, Tax Debt Representation Industry Continues to Act in the Shadows, Michael Rozbruch, founder and CEO of Tax Resolution Services, Co. a pioneer in the tax problem resolution industry, addressed his thought

All 4 Releases

More Releases for IRS

Huntington Beach, CA – March 21, 2019 - Have you been thumped with a tax demand from the IRS and not sure what to do? Nationwide Tax Experts are on hand to offer you the best solution to save money and minimize that tax debt. Millions of Americans find themselves in the same position, not knowing which way to turn, under pressure and stress, and facing a crisis with their impending
Global Intelligent Road System (IRS) Market Size, Status, Key player:- Software, …
Market Research Hub (MRH) has recently broadcasted a new study to its broad research portfolio, which is titled as “Global Intelligent Road System (IRS) Market Size, Status and Forecast 2018-2025” provides an in-depth analysis of the Intelligent Road System (IRS) Market with the forecast of market size and growth. The analysis includes addressable market, market by volume, market share by business type and by segment (external and in-house).The research study
New Tool Quickly Calculates IRS Settlements
Old Hickory, Tenn. - TaxProEZ, a professional tax resolution and preparation company, announces the release of a new tool that helps enrolled agents quickly by calculating settlements. Tax resolution expert Gary LaRoy is offering the tool to enrolled agents, so they can support their clients’ tax management needs. The Internal Revenue Service (IRS) is sure to come calling when back taxes are owed. The average accountant or tax professional company may
Edupliance Announces Webinar To Cover How to Correct IRS Forms
Edupliance announces webinar titled, “Complete Guide to Correcting IRS Forms” that aims to advise attendees on the correct way to fill Form 941, use Form W-2c to correct the employee’s year-end information as well as how to file amended return for Form 940. The webinar goes LIVE on Wednesday, May 31, from 01:00 PM to 02:30 PM, Eastern Time. Mistakes can occur in even the most efficient and knowledgeable payroll departments!
Global IRS Mode Selector Module Assemblys Market Research Report 2017
Summary This report studies IRS Mode Selector Module Assemblys in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering Company One Company Two Company Three Company Four Company Five Company Six Company Seven Company Eight Company Nine Company Ten Company 11 Company 12 Company 13 Company 14 Company 15 Company 16 Company 17 Company 18 Company 19 Company 20 Get Sample Report @ Market Segment by Regions, this report
CW Associates CPA's Hawaii: Modernizing Fax Filings with the IRS
Federal and state agencies, including the court systems, are modernizing by allowing the electronic filing of petitions and other court documents. For example, Alabama, Texas, Illinois and Missouri have e-filing systems for court petitions. In 2014, two federal courts (2nd and 9th Circuit Courts of Appeals) piloted an e-filing program for all courts in which the user is authorized to file electronically. The program is expected to become national in