Skip to Main Content
 

Bloomberg BNA Quotes Scott Michel on How a Global Push to Combat Tax Evasion Led to an Influx of Information

January 12, 2016, Bloomberg BNA

Bloomberg BNA quoted Scott D. Michel on how the global crack down on tax evasion has led to a recent influx of information or, in some cases, lack of information from the world's financial institutions. With the U.S. investigating multiple Swiss banks and compiling evidence, and additional information is coming from the implementation of FATCA, the government is poised to pursue additional cases involving offshore evasion. For the full article, please visit Bloomberg's website.

Excerpt taken from the article.

. . .

Follow-Up Underway

While the U.S. reached agreements with most banks under investigation in 2015, "there are some pretty big banks out there that have yet to do their deal," said Scott Michel, a member of Caplin & Drysdale.

In addition, between FATCA, the Swiss program and the government's sharply increasing efforts to track down U.S. taxpayers concealing assets overseas, "The tax system must have a huge amount of data—material information and leads that are useful in pursuing all types of information around the world," Michel said.

He and other practitioners said the DOJ is already using information from the Swiss bank program to do more work on additional cases.

"We've definitely seen follow-up," Michel said. "On the bank side, a number of banks have been approached with very specific questions on very specific cases."

________________________________________________

About Caplin & Drysdale
Having celebrated our 50th Anniversary in 2014, Caplin & Drysdale continues to be a leading provider of legal services to corporations, individuals, and nonprofits throughout the United States and around the world. We are also privileged to serve as legal advisors to accounting firms, financial institutions, law firms, and other professional services organizations.

The firm's reputation over the years has earned us the trust and respect of clients, industry peers, and government agencies. Moreover, clients rely on our broad knowledge of the law and our keen insights into their business concerns and personal interests. Our lawyers' strong tactical and problem-solving skills -- combined with substantial experience handling a variety of complex, high stakes, matters in a boutique environment -- make us one the nation's most distinctive law firms.

With offices in New York City and Washington, D.C., Caplin & Drysdale's core practice areas include:
For more information, please visit us at www.caplindrysdale.com.
Washington, DC Office:
One Thomas Circle NW
Suite 1100
Washington, DC 20005
202.862.5000
New York, NY Office:
600 Lexington Avenue
21st Floor
New York, NY 10022
212.379.6000

___________________________

Disclaimer
This communication does not provide legal advice, nor does it create an attorney-client relationship with you or any other reader. If you require legal guidance in any specific situation, you should engage a qualified lawyer for that purpose. Prior results do not guarantee a similar outcome.

Attorney Advertising
It is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
© 2019 Caplin & Drysdale, Chartered
All Rights Reserved.

Related Professionals

Related Practice Area(s)