As published in the Winter Park/Maitland Observer, Thursday Jan. 3, 2012 Edition Offers... Read More »
The 3 most frequently prosecuted tax crimes
As published in the Winter Park/Maitland Observer Newspaper on December 6, 2012 The IRS criminal investigation division investigates and refers for prosecution some tax crimes more than others. Here are the three most frequently prosecuted tax crimes: Failure to File Tax Returns The Law 26 U.S.C. § 7203 – Willful failure to file return, supply…
Read Full Article Categorized in: Articles, Criminal Tax, Unfiled Tax ReturnsSinger 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 ReturnsIRS 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 disclosureOVDI Update: IRS Gives Offshore Account Holders Yet Another Chance
We recentlly announced that the IRS is extending its Offshore Voluntary Disclosure Intiative (OVDI). Since September 2011, we have received hundreds of calls from offshore account holders who wanted to get into the OVDI program. Unfortunately, until now, we have had to tell them that it was too late. Once again, if you have a…
Read Full Article Categorized in: Voluntary disclosureTax 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 disclosureThree Bombs Explode at Italian Tax Collection Office
Reuters reports that three explosive devices blew up outside the Naples offices of Equitalia, a state agency that collects overdue taxes and fines, breaking windows but injuring no one on Monday night, a police official told Reuters: Police said no group had claimed responsibility for the attack on the building on Corso Meridionale near Naples central…
Read Full Article Categorized in: Tax Collections, Tax CrimesSupporters of Tax Scofflaw Ai Weiwei Expose Their Wee Wees
From Kelly Phillips-Erb aka TaxGirl: Talk about the naked truth. Fans of beleaguered artist Ai Weiwei have tapped the power of the internet to show their support… by posing naked. Ai Weiwei was charged with tax evasion earlier this year, a charge that he claims is related to his outspoken criticism of the Chinese government.…
Read Full Article Categorized in: Satire, Tax CrimesTop Lawyer Charged with Failure to Report $10 Million of Income
The Wall Street Journal reports today that yet another former partner at a major New York law firm has been charged with failing to pay taxes: John J. O’Brien, who specialized in corporate mergers and acquisitions at “a major Wall Street law firm,” was charged Thursday with four misdemeanor tax counts by federal prosecutors in…
Read Full Article Categorized in: Tax CrimesRapper Ja Rule Gets 2 Years For Failing to File Tax Returns
Kelly Phillips-Erb reports that another hip hop rap artist has been convicted of tax crimes: Rapper and actor Ja Rule, whose real name is Jeffrey Atkins, was sentenced this week to more than two years in federal prison for failing to file income tax returns between 2004 and 2006. He had faced up to three…
Read Full Article Categorized in: Tax CrimesEx-Kirkland & Ellis Bankruptcy Attorney Indicted for Tax Fraud
Paul Caron reports that a Former Kirkland & Ellis Partner Indicted, Accused of Cheating on Personal Income Tax: A former bankruptcy partner at Kirkland & Ellis has been indicted on four counts of income tax fraud. Theodore Freedman, 63, is accused of underreporting by over $2 million his nearly $5.4 million in total income between…
Read Full Article Categorized in: Tax CrimesTax Evaders, Say Goodbye to the Swiss Bank Account
“You better start swimmin’ Or you’ll sink like a stone For the times they are a-changin’. – Bob Dylan – Jack Townsend of Federal Tax Crimes reports (emphasis is mine): There are reports that the Swiss Government in moving / inching toward real exchange of information under its double tax treaties, which are, like most…
Read Full Article Categorized in: International Taxation, News, Tax CrimesEconomic Substance Doctrine
Amanda Yoder, a 3L at University of Missouri Law School and an editor of its Law Review, has written a thorough piece on the economic substance doctrine¹ titled One Prong, Two Prong, Many Prongs: A Look Into the Economic Substance Doctrine. Ms. Yoder discusses the two approaches the courts have traditionally used in economic substance doctrine cases and…
Read Full Article Categorized in: Court Cases, Deductible ExpensesSupreme Court Won’t Hear Snipes Appeal
It didn’t take a missile scientist to predict that the Supreme Court would deny Wesley Snipes’ petition for certiorari. FoxNews reports: There will be no courtroom retake for actor Wesley Snipes as the Supreme Court announced Monday that it will not give further consideration to an appeal from the Hollywood star who is serving a three-year…
Read Full Article Categorized in: News, Supreme CourtIRS Pursues Tax Evasion Enablers
Jack Townsend alerts us that the IRS is increasing its focus on the criminal investigations of those who enable or promote tax evasions: Observers of the IRS offshore financial account initiative have known for a long time that the IRS had its sights on enablers (persons who promoted and enabled taxpayers into offshore accounts for…
Read Full Article Categorized in: Tax Crimes