Posts Tagged abusive tax shelter
IRS Wins Tax Shelter Case – Will Claims Of Accounting Malpractice Follow?
Posted by admin in Fraud Recovery, Legal Malpractice, Tax on February 17, 2013
by Brian Mahany Earlier this week the United States Tax Court ruled in favor of the IRS in a widely watched corporate tax shelter case. The test case, involving Bank of New York Mellon, could cost the bank $800 million. Although BONY has promised to appeal, the loss may create a waive of accounting malpractice [...]
Enter At Your Own Risk – Beware Shark Finned CLATs
Posted by admin in Fraud Recovery, Tax on January 9, 2013
by Brian Mahany When I was in Maui last January, several of the beaches had warning signs for sharks. Surfers were advised to enter the water at their own risk. This post discusses so-called shark finned CLATs or “Charitable Lead Annuity Trusts”. Investors are advised to invest at their own risk. CLATs have become a [...]
Captive Insurance Companies & Diversified Insurance Company
Posted by admin in Fraud Recovery, Legal Malpractice, Tax on July 18, 2012
by Brian Mahany Captive Insurance Companies are certainly on the IRS’ radar screen these days. Yesterday, a colleague forwarded me a copy of a summons from the IRS to a New York attorney seeking information on the lawyer’s clients who had done business with Diversified Insurance Company. While getting a summons from the IRS is [...]
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