JPMorgan paid more than $300m a year ago to resolve regulators’ claims that the bank had failed to tell wealthy clients it was steering them into its own funds. Now it may have unfinished business with the Internal Revenue Service.
The 400 highest earning Americans made $106 billion in 2010, up more than 20 percent, according to data from the Internal Revenue Service.
Raoul Weil, who once ran UBS's global wealth-management business, referred to accounts hidden by U.S. clients from the Internal Revenue Service as 'toxic waste,' a witness at his tax-conspiracy trial said.
The Internal Revenue Service said Tuesday that it will treat bitcoin and similar virtual currencies as property for U.S. federal tax purposes.
Bloomberg News' Zachary Mider examines the IRS' case against billionaire James Simons.