Category Archives: TAX CRIMES

IT’S GOOD TO BE RICH: BEANIE BABY FOUNDER GOES FREE

Part T of the Federal Sentencing Guidelines Manual deals with “Offenses Involving Taxation.” The Introductory Commentary states: The criminal tax laws are designed to protect the public interest in preserving the integrity of the nation’s tax system.  Criminal tax prosecutions … Continue reading

Posted in 2011 OVDI, 2012 OVDP, FBARS, NEW OVDP, OFFSHORE BANK ACCOUNTS, TAX, TAX CRIMES, VOLUNTARY DISCLOSURE | Tagged , , , , , , | Leave a comment

AWARD FOR DUMBEST DIVORCING COUPLE

 I have seen divorcing spouses do really dumb things but this couple takes the cake and wins the award for Dumbest Divorcing Couple of the Year. The case Shai v. Shai was tried in Palm Beach County Florida before Acting … Continue reading

Posted in DIVORCE, FBARS, JOINT RETURNS, MARRIED PERSONS, RETURNS, TAX, TAX CRIMES | Tagged , , , , , , , , | Leave a comment

CAUTION: IRS MAY ALREADY HAVE YOUR NAME OR WILL SOON. OFFSHORE DRAGNET LEADS UNNAMED FOREIGN BANKS TO COOPERATE

Some still out in the cold with offshore financial accounts take comfort in the fact that their bank has not yet been indicted or named in any publicly announced IRS investigation.  Well, here is some sobering news to shake confidence … Continue reading

Posted in 2012 OVDP, OFFSHORE BANK ACCOUNTS, TAX, TAX CRIMES, VOLUNTARY DISCLOSURE | Tagged , , , , , , , , , , , , , , | Leave a comment

MORE STORM CLOUDS FOR HIDDEN OFFSHORE ACCOUNTS

The holes in which to hide for offshore tax cheats are steadily being filled up.  Those who have not entered the IRS Offshore Voluntary Disclosure Program, will find no comfort in some recent news, namely: Bank Frey, the “Truly Swiss, … Continue reading

Posted in 2012 OVDP, OFFSHORE BANK ACCOUNTS, TAX, TAX CRIMES | Tagged , , , , , , , , , , , | Leave a comment

HEAT ON OFFSHORE TAX EVADERS TURNED UP: DOJ OFFERS SWISS GOVERNMENT SANCTIONED DEAL TO SMALLER SWISS BANKS

Recent developments have turned up the heat on offshore tax holders who have or have had unreported bank accounts in Switzerland: On August 29, 2013, the U.S. Department of Justice (DOJ) and Swiss Federal Department of Finance issued a joint … Continue reading

Posted in 2012 OVDP, FBARS, TAX, TAX CRIMES, TAX INFORMATION EXCHANGE AGREEMENTS, VOLUNTARY DISCLOSURE | Tagged , , , , , , , , | Leave a comment

E-FILING OF FBARS NOW MANDATORY

The Financial Crimes Enforcement Network (FinCEN) has issued its Final Notice requiring the electronic filing of most Bank Secrecy Act (BSA) reports by July 1, 2012. The mandated reports filed by financial institutions include: Suspicious Activity Reports (SARs) filed by … Continue reading

Posted in 2012 OVDP, COMPLIANCE, FBARS, TAX, TAX CRIMES | Tagged , , , , , | Leave a comment

OVDP OR NOTHING AT ALL

The 1939 song, “All or Nothing at All,” (by Arthur Altman and Jack Lawrence) made popular by Frank Sinatra might be sung in a new version by IRS, “OVDP or Nothing at All.” The Bank Secrecy Act contains draconian penalties … Continue reading

Posted in 2012 OVDP, AMENDED RETURNS, DELINQUENT RETURN, FBARS, NEW OVDP, TAX, TAX CRIMES, VOLUNTARY DISCLOSURE | Tagged , , , , , , , , , , , , | Leave a comment