Not all are aware that non-bank offshore assets must be reported to Treasury as well as IRSAfter the headlines about the IRS’ going after secret Swiss bank accounts, investors are learning to their dismay that they could face fines and prosecution for failing to report other foreign assets, such life insurance, to both the IRS and the Treasury Department.
Posts Tagged ‘Gold Bullion’
Foreign-account holders may face double trouble
September 10th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Capital Gains, Cash Surrender Value, Department Of The Treasury, Dismay, Double Trouble, Financial Accounts, Financial Interest, Gillespie, Gold Bullion, Individual Retirement Accounts, Internal Revenue Service, Investment Income, Life Insurance Policies, Offshore Assets, Pension Plans, Signature Authority, Swiss Bank Accounts, Tax Attorney, Treasury Department, Ubs Ag 
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