In Reversal, IRS Gives Amnesty To Owners Of Secret Israeli Bank Accounts
The IRS overturned their previous decision and are allowing Bank Leumi clients who were kicked out of the program, proceed with the Offshore Voluntary Disclosure Program (OVDP). See below: Yesterday, as the Department of Justice was trumpeting its latest criminal case charging offshore tax evasion—this one against billionaire Beanie Babies creator Ty Warner—the Internal Revenue […]
FBAR PENALTIES CONTINUE FOR FOREIGN ACCOUNTS
Link: http://www.accountingtoday.com/news/beanie-babies-creator-admits-tax-evasion-68080-1.html FBAR Prosecutions continue throughout Maryland and accross the U.S.. The Government is prosecuting the most serious offenses criminally. Many more international cases are begining to be worked civilly by the IRS. See below: H. Ty Warner, the creator of Beanie Babies plush toys, was charged with tax evasion for failing to report […]
Tax Evasion Charges — Rapper Fat Joe goes to federal prison
Rapper Fat Joe turned himself in Monday to serve a four-month prison sentence stemming for tax evasion. The “Lean Back” rapper, whose real name is Joseph Cartagena, surrendered Monday, his attorney told Associated Press. The 42-year-old pleaded guilty in December after failing to pay income taxes in 2007 and 2008 on income that totaled more […]
Swiss Lawyer Pleads Guilty Offshore Tax Fraud
Link: http://www.nytimes.com/2013/08/17/business/swiss-lawyer-pleads-guilty-to-conspiracy-in-tax-fraud.html?_r=0 Offshore Tax Fraud prosecutions continue to be one of the major focuses of the IRS. See the article below: A Swiss lawyer accused of helping American clients conceal millions of dollars in offshore accounts pleaded guilty to conspiracy to commit tax fraud in federal court in New York. The lawyer, Edgar Paltzer, 57, […]
Great Article Regarding Tax Compliance For Americans Living in Canada and Abroad
Link: http://www.montrealgazette.com/business/Talk+Money+What+Americans+living+Canada+need+know+about/8692506/story.html What Americans living in Canada need to know about filing taxes Q: I just heard about an upcoming U.S. law that will penalize Americans who are residents of Canada for not having filed U.S. tax forms. I am an 80-year-old American citizen and Canadian resident for 50 years and I have always […]
Man Pleads Guilty to Criminal Tax Fraud Relating to Failing to Disclose Foreign Bank Account
Link: http://saratoga.patch.com/groups/police-and-fire/p/saratoga-man-pleads-guilty-to-tax-fraud Saratoga resident Moshe Handelsman pleaded guilty Wednesday to filing a false tax return for tax year 2007, the United States Attorney’s Office said. According to the plea agreement, between approximately 1993 and 2000, Handelsman, a U.S. citizen, used three bank accounts held in the names of two different foreign corporations at foreign banks […]