Tag Archives: internal revenue service


US tax chiefs target loans from hedge funds offshore

September 25, 2009 : Permalink

Reuters – U.S. tax authorities have advised staff in New York to pursue legal cases against hedge funds and companies that avoided taxes through loans that originated in the United States but are approved offshore. The Internal Revenue Service, in […]

Hedge Fund Indictment Says Cravath, Bryan Cave Were Duped

June 5, 2009 : Permalink

Law.com – Federal prosecutors Thursday unsealed an indictment charging the chief executive of what used to be one of the world’s largest investment funds with constructing elaborate tax shelters for some of his wealthiest clients. The executive, Jeffrey Greenstein, the […]

IRS Offers Deal to Tax Evaders

March 27, 2009 : Permalink

New York (HedgeCo.Net) – Wealthy Americans who have been hoarding cash overseas and failing to pay Uncle Sam are getting a break, as the Internal Revenue Service unveils a plan that will greatly reduce their penalties. The idea comes a […]

Bills by Baucus and Levin Could Mean Tighter Leash for Hedge Funds

March 16, 2009 : Permalink

New York (HedgeCo.Net) – Senate Finance Committee Chairman Max Baucus has introduced a new bill aimed at halting offshore tax evasion by U.S. companies.     The new bill is in response to Senator Levin’s “Stop Tax Haven Abuse Act,” which […]

UBS defies US demands on secret accounts

March 5, 2009 : Permalink

Breitbart.com – Banking giant UBS Wednesday defied pressure to name about 50,000 Americans holding secret bank accounts in Switzerland as the nation’s financial culture came under a withering fire. US senators accused bankers at crisis-wracked UBS of helping wealthy Americans […]

With Trial Looming, Fate of UBS Looks Grim

March 3, 2009 : Permalink

New York (HedgeCo.Net) – UBS may have until July 13 to “vigorously contest” the demands of the Internal Revenue Service to disclose the names associated with 52,000 offshore bank accounts, but the vice that the troubled Swiss bank is finding […]

Former UBS Exec Declared a Fugitive by South Florida Judge

January 14, 2009 : Permalink

New York (HedgeCo.Net) – U.S. authorities have officially declared Raoul Weil, formerly of UBS, a fugitive.  The one-time prominent business man and former chairman of UBS’s global wealth management unit, failed to surrender to police after being charged with aiding […]