Posts Tagged tax fraud
Uncle Sam Considers Withholding Passports from Tax Cheats
by Brian Mahany
The U.S. General Accounting Office has recommended that the IRS and State Department start working together. The report recommends that Congress authorize the IRS to disclose names of tax delinquents to the State Department and that they be denied passports or the ability to leave the U.S.
According to a GAO survey, 224,000 passport [...]
IRS Pays $1.1 Million Whistleblower Reward – Should You Be Worried?
by Brian Mahany
The Internal Revenue Service paid an anonymous whistleblower a $1.1 million dollar reward for information about tax fraud at Enron. The award was paid out under the old IRS whistleblower program and represents the then maximum reward. For the same claim filed today, the award could have been much higher. The IRS can [...]
IRS Cracks Down on Phony Tax Credits
by Brian Mahany
Federal prosecutors indicted a man in Philadelphia for falsely claiming the first time homebuyers credit on his tax return. Elsewhere in the country, IRS and federal prosecutors began filing lawsuits against tax preparers for assisting taxpayers in claiming false homebuyer and earned income tax credits.
In recent weeks, the feds have taken action against [...]
IRS Offers 2nd Tax Amnesty; New Break for Offshore Account Holders
by Brian Mahany
As expected, the IRS has announced a second amnesty program for taxpayers with undisclosed foreign accounts. While having a bank or brokerage account in a foreign country is not illegal, failing to tell Uncle Sam about the account or intentionally failing to pay taxes on offshore interest or dividends is a crime.
Unlike the [...]
Operation Brass Tax - IRS Charges 26 Tax Preparers
Posted by admin in Tax, White Collar Criminal on January 22, 2011
by Brian Mahany
It’s January and tax season is in full swing. The IRS says that because of recent law changes, it can’t start processing certain returns until well into February. That fact has further elevated the stress levels of CPA’s and preparers. With any luck, however, by mid April all can head to Cancun, soak [...]
Forget Illegal Immigration, Newest Threat May Be the Emigration of the Wealthy
(Tax Blog)
by Brian Mahany
We are bombarded with headlines about illegal immigration. Most illegal immigrants are the very poor seeking a few dollars and a better way of life. Opponents of immigration reform say that illegal aliens are a threat to our economy. The real threat to our economy and our way of life may be [...]
Now Coming to a Church Near you… the IRS?
by Brian Mahany
According to an Internal Revenue Service report released last month, there are 1.8 million tax exempt organizations in the United States that collectively control well over $3 trillion in assets. In recent years, the IRS has increased its scrutiny of the non-profit center. The Criminal Investigation Division (IRS CID) is now jumping into [...]
You Think Uncle Sam is Zealous About Tax Evasion Prosecution? Think Death Penalty!
by Brian Mahany
It’s a rainy day in Macau, a former Portuguese island colony off the coast of China. My work as an asset protection and asset (fraud) recovery lawyer frequently takes me to interesting spots in the world. This week is no exception.
Many nations are popular for Americans seeking to diversify their banking risks and [...]
Thousands of New IRS Agents Hit the Streets
by Brian H. Mahany
A just released report shows the IRS collected $400,000,000,000 less in 2009 than in 2008. (Yes, that is 400 billion.) No surprise there - the economy remains in a slump and placing food on the table occupies a higher importance than paying taxes for many families.
The same report, released by the Treasury [...]
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