- LLB represented is quote as having said that LLB "is confident that a solution can be found for Liechtensteinische Landesbank AG, Vaduz, in the coming weeks.” This could be the third bank, after UBS and Wegelin, to make its peace with the U.S.
- The U.S. information request was for "[a]ccounts that contained at least $500,000 at any time since the beginning of 2004."
- Responding to the request was "facilitated by Liechtenstein amending a tax law in March 2012."
Jack Townsend offers this blog on Federal Tax Crimes principally for tax professionals and tax students. It is not directed to lay readers -- such as persons who are potentially subject to U.S. civil and criminal tax or related consequences. LAY READERS SHOULD READ THE PAGE IN THE RIGHT HAND COLUMN TITLE "INTENDED AUDIENCE FOR BLOG; CAUTIONARY NOTE TO LAY READERS." Thank you.
Saturday, July 20, 2013
Liechtenstein Bank In U.S. Cross-Hairs (7/20/13)
It is reported that Liechtenstein Landesbank AG (LLB) has increased to $50 million its reserve for settlement with U.S. tax authorities. See Giles Broom, Liechtenstein Bank Triples U.S. Probe Provision to $50 Million (Bloomberg 7/18/13), here. Other key points from the article:
1 comment:
Please make sure that your comment is relevant to the blog entry. For those regular commenters on the blog who otherwise do not want to identify by name, readers would find it helpful if you would choose a unique anonymous indentifier other than just Anonymous. This will help readers identify other comments from a trusted source, so to speak.
Subscribe to:
Post Comments (Atom)
this is a very good informative post on Tax Deed and all that.i liked it very much.thanks for sharing this one here with us.
ReplyDelete