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Asset Protection Law Journal

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Congress Continues to Close Tax Loopholes in Offshore Accounts

By Ken Laino on April 1, 2010
Posted in Offshore Trusts, Swiss Bank Accounts

A new law signed by President Obama last month makes it much harder for U.S. citizens to evade taxes by hiding money in offshore accounts.  Foreign financial institutions will now face a 30% tax on their U.S. investments if they refuse to provide information about accounts held by U.S. citizens.

None of this is a…

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Kenneth J. Laino <br> <em>of</em> Schneider Smeltz Spieth Bell LLP
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Kenneth J. Laino and J. Paul Fidler are partners and Kyle T. Mordew is an associate in the law firm of Schneider Smeltz Spieth Bell LLP. The firm offers thoughtful, practical solutions to the complex problems facing its clients. Established in 1895,Schneider Smeltz Spieth Bell LLP is one of Cleveland’s oldest law firms. While its base is in Cleveland, the firm represents clients throughout the United States and the world.

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