Trust Fund Recovery Penalty – Are You Liable?
The Trust Fund Recovery Penalty is a powerful weapon in the IRS’ arsenal. Under Internal Revenue Code section 6672, responsible officers and individuals can become liable for unpaid trust fund taxes. These include most payroll taxes such as income tax withholding, social security and Medicare. That means if a business fails to pay these taxes, [...]
FHFA’s Settlement With Citi A Charade?
Posted by admin in Fraud Recovery on June 13, 2013
[Ed. Note: The following post was written by Charles Seavey. Charles is an excellent writer and frequently posts on LinkedIn's Securities Fraud and Financial Crimes groups. When not writing about fraud, he also is an accomplished attorney. The opinions in this piece are his. Stories like this should be upsetting to everyone who believes in [...]
The Dirty Back Room Deals – Securities Fraud Post
Posted by admin in Fraud Recovery on June 12, 2013
Securities fraud has been around since the Philadelphia Stock Exchange became America’s first stock exchange in 1790. The types of fraud may be different but all are driven by greed and avarice. A recent complaint by a stockbroker at J.P. Morgan Securities reveals some light on the dirty side of the brokerage industry. Bryant Tchan [...]
Have We Gone from “the Rule of Law” to “the Rule of Lawyers”?
Posted by admin in Legal Malpractice on June 12, 2013
[Ed. Note: This story about how America has become a nation governed by the "Rule of Lawyers" was originally published on our sister blog, the Guerilla Law Firm Blog. Visit that blog for stories about the practice of law and the future of the legal profession.] Last weekend’s Wall Street Journal featured a story by [...]
C Corp, S Corp, LLC… REIT?
Real Estate Investment Trusts (REIT for short) are the newest way some companies are seeking to avoid corporate income tax. According to a story published on June 8th in the Wall Street Journal, some companies are seeking to convert to REITs. The IRS, however, is not convinced those conversions are legal. REITs have been around [...]
A smoking gun pointing to the financial crisis in March 2007
Posted by admin in Fraud Recovery on June 11, 2013
[Ed. Note: The following story comes from Dwight Haskins. The entire story appears on his blog. Dwight is one of the most passionate whistleblower advocates we know. He is a former senior financial analyst and government bank regulator. We have previously carried some of his stories on our blog, Due Diligence. ] by Dwight Haskins A smoking [...]
FATCA and the Law of Unintended Consequences.
We have long warned of the unintended consequences of America’s FATCA law (the Foreign Account Tax Compliance Act). The problems inherent in the law are many while the anticipated benefits are few. Although the law will doubtless bring in more revenue, the costs to banks and the public are huge and simply increasing public awareness [...]
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