Just when foreign financial firms thought they had enough on their plates, the heat continues to rise. International pressure to catch tax evaders is expected to be ramped up by the end of 2013 as a new inter-governmental agreement that requires information on offshore U.S. accounts with balances of more […]
Author: Lawrence Brown
A former San Antonio and Blanco contractor was in hot water Friday after being convicted of five counts of tax evasion while working on defense contract jobs. Daniel Isaiah Thody, 45, believes that he has been unjustly accused and that he was not required to pay taxes on the $1 […]
Thanksgiving is next week, and that will kick off the holiday season. Family activites and various year-end festivities are naturally moving to the forefront of people’s minds. In the rhythm of American life, however, an approaching New Year’s holiday also means a new tax year is approaching as well. And […]
More U.S. taxpayers have either renounced their citizenship or returned their green cards in 2013 than ever before, primarily high net-worth individuals who sought to avoid higher taxes on income and capital gains. The major driving forces of the sharp increase are new changes to the tax law, including the […]
Swiss politicians and regulators are eager to help with on the U.S. tax evasion crackdown. Things will get interesting as the new point person for the Swiss heads to Washington D.C. for his first chat with law enforcement officials. The Swiss Department of Finance announced on Monday that Jacques de […]
We write about many nuts-and-bolts tax issues in this blog. From correspondence audits to employment taxes and on and on, there is never a shortage of specific issues to address in our very complicated U.S. tax system. In this post, let’s take a step back and take a wider look […]
Two businessmen are facing the wrath of Quebec’s revenue agency this week as the agency heaved nearly 1,000 tax evasion charges against the men and four companies. Revenue Quebec is also seeking more than $6 million in fines as well as prison sentences. The agency has filed almost 700 charges […]
In the first part of this post, we noted that problems with accurately scanning documents have been hindering the ability of the IRS to conduct correspondence audits effectively. This is a concern because many potential tax issues are resolved through the paper-driven correspondence process, rather than through a full-scale, in-person […]
A federal judge made it clear on Thursday that tax evasion will not be tolerated when he ordered a Huntsville man to pay $3.7 million in restitution as part of his sentence. Paul Bracy, 71, was charged with one count of tax evasion and was sentenced to five years’ probation, […]
Leo Messi, forward for Barcelona, has been exonerated in his tax fraud case by two tax office experts. The experts testified to the court that the Argentine did not take any part in the management of his image rights and, thus, was unknowingly not paying taxes that were to have […]