As highlighted yesterday on the front pages of the Wall Street Journal, the New York Times and other newspapers across the country- – Credit Suisse has pled guilty to conspiracy to aid tax evasion (by helping U.S. citizens unlawfully evade taxes through Swiss bank accounts).  The large bank agreed to pay about $2.6 billion in

FBAR and FATCA (which require reports by U.S. persons of interests in foreign accounts) overlap to a large extent.  But they impose separate reporting requirements.  Failure to comply (especially with regard to FBAR) can have very severe consequences. 

FBAR (a foreign bank account report) stems from a banking regulation under the Bank Secrecy Act.  It

The recent scandals involving tax evasion by some Americans (who had assets in secret Swiss bank accounts) are still playing out.  The Swiss Cabinet recently announced a new program that would allow about a dozen Swiss banks to provide the United States Department of Justice with information on bank accounts held by Americans.  The Justice