- 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.
Pages
▼
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:
Comments are moderated. Jack Townsend will review and approve comments only to make sure the comments are appropriate. Although comments can be made anonymously, please identify yourself (either by real name or pseudonymn) so that, over a few comments, readers will be able to better judge whether to read the comments and respond to the comments.
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