As published in the Winter Park/Maitland Observer, Thursday Jan. 3, 2012 Edition Offers... Read More »
Florida Man Convicted for Unreported Foreign Account
If you own or have signature authority over a foreign account and put in the name of another entity in order to hide it from the IRS or avoid the FBAR disclosure requirements, you can count on a criminal prosecution if the IRS catches you. Wolfgang Roessel has been convicted of filing a false tax return, a…
Read Full Article Categorized in: Criminal Tax, Voluntary disclosureSinger Lauryn Hill Guilty of Failing to File Tax Returns
The Associated Press reports that singer Lauryn Hill pleaded guilty to failing to file tax returns on more than $1.5 million she earned from 2005 through 2007. Hill’s attorney said she plans on paying the back taxes, interest and penalties before she is sentenced in November. Ms. Hill claimed that she didn’t pay her taxes because ”she withdrew…
Read Full Article Categorized in: Back Taxes, Criminal Tax, Unfiled ReturnsFBAR Penalty Stories
Joe Kristan has a nice little post about the absurd FBAR penalties: Another inspiring tale of international tax enforcement from Phil Hodgen: I’m 33 and single, I’ve been living in France for 13 years, am naturalized French (and born American). I had NO idea about these reports until I started searching on tax information for…
Read Full Article Categorized in: Voluntary disclosureIRS Criminal Penalties for Delinquent Offshore Account Holders
In considering whether or not to participate in the IRS’s Offshore Voluntary Disclosure Initiative (OVDI) taxpayers should be aware that if they do not participate and are caught they face a possible ten year prison sentence, a $500,000 fine and a civil penalty of 50% of the the highest account balance for each year the FBAR was…
Read Full Article Categorized in: Voluntary disclosureIRS OFFSHORE VOLUNTARY DISCLOSURE AMNESTY
Peter Pappas discusses the IRS’s extension of the Offshore Voluntary Disclosure Intiative (OVDI). Taxpayers with unreported foreign accounts and unreported foreign income are urged to come forward and participate in the OVDI program to avoid serious civil and criminal penalties. This is a great opportunity and one that every offshore account holder should seriously consider. Call…
Read Full Article Categorized in: Podcasts, Voluntary disclosureIRS Extends Offshore Voluntary Disclosure Initiative – OVDI 2012
The IRS has just announced that it will give offshore account holders another chance to avoid criminal prosecution and limit penalties. Call or email us today for a free consultation about the extended Offshore Voluntary Disclosure Initiative (OVDI). This is a great opportunity for taxpayers to avoid serious IRS problems.
Read Full Article Categorized in: Voluntary disclosureIRS Paid Illegal Immigrants $4.2 Billion in Fraudulent Child Care Credits
Paul Caron reports that the rumor that illegal immigrants received $4.2 billion in fraudulent Child Care tax credit payments from the IRS is true: Following up on last week’s post, Illegal Immigrants’ Child Tax Credit Fraud Costs IRS Billions: FactCheck.org, Tax Credits for Illegal Immigrants: Q: Does the IRS pay billions in tax refunds to…
Read Full Article Categorized in: Credits, Tax CrimesTax Crimes: What the IRS Looks For
There are certain tax crimes that the IRS criminal investigation division investigates and refers for prosecution more than others. Here are four of the most frequently prosecuted tax crimes: Failure to File Tax Returns The Law 26 U.S.C. § 7203 – Willful failure to file return, supply information, or pay tax Any person required under this…
Read Full Article Categorized in: Criminal TaxNew York Times: Global Crackdown on Tax Crimes Intensifies
David Jolly of the New York Times reports that the United States, France, German and Great Britain are working together offshore and other types of tax evasion: The global body that sets standards for combating money laundering and terrorist financing said Thursday that governments should treat tax crimes as a red flag for other types…
Read Full Article Categorized in: Criminal Tax, Voluntary disclosureIt’s Easy to Steal IRS Refunds
Two years ago we addressed the IRS’s flawed refund procedure in False Refund Schemes and Backwards IRS Return Processing Rules. Today, Jay Weaver of the Miami Herald gives a distressing update in Scammers Steal IRS Refunds with Ease: “We are seeing defendants once involved in other types of crimes [such as drug trafficking] getting involved in identity-theft schemes,…
Read Full Article Categorized in: Individual Taxation, IRS Procedure, News, Tax CrimesTax Scam Promoter Gets 7 Years
Sharon D. Kukhahn, 62, of Tacoma, Wash., was sentenced Wednesday in a federal court in Tacoma, Washington to seven years in jail, three years of supervised release, and $856,681 in restitution after being convicted of conspiracy, four counts of tax evasion and corrupt interference with Internal Revenue law. WebCPA has the story: Kukhahn was convicted…
Read Full Article Categorized in: Absurd Tax Protester Arguments, News, Tax CrimesMore Swiss Banks to Disclose Names to IRS
Accounting Today reports that one of Switzerland’s oldest banks, Clariden Leu, has become the latest to cooperate with U.S. tax authorities in disclosing the names of American investors: The bank has begun notifying some of its U.S. customers that it plans to reveal their names and account information to the Internal Revenue Service, according to…
Read Full Article Categorized in: Announcements, International Taxation, IRS Audits, News, Tax CrimesBeware of Foreign Tax Evasion Promoters
Fortunately, the Milwaukee Brewers surprising loss to the St. Louis Cardinals in the National League Championship Series has not blurred Milwaukee lawyer and blogger Brian Mahany‘s judgment in tax matters.¹ Mahany, proprietor of the law blog, Due Diligence, gives some excellent advice to prospective offshore investors in Looking to Evade Taxes? There are Still Plenty of People Willing to…
Read Full Article Categorized in: International Taxation, IRS Audits, Tax CrimesTwenty Fake Dependency Exemptions Generate $300K Tax Refund?
Blake Ellis of CNNMoney writes about a woman who fraudulently claimed 20 child dependents on her income tax return: Tax fraudsters are getting more creative — and, in some cases, more daring. But the IRS is making it harder for them to get away with their tricks. Late last week, a Los Angeles woman pleaded guilty…
Read Full Article Categorized in: Individual Taxation, News, Tax CrimesFiling a False Return
It’s no secret that the IRS has greatly intensified the criminal prosecution of taxpayers who have filed false tax returns. The reason for this is evident: The federal government needs money but doesn’t want to raise taxes on law-abiding citizens in a weak ec0nomy. From day one, the Obama administration made it a priority to close the tax…
Read Full Article Categorized in: Blog Posts, Criminal Tax