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Category: Tax Crimes

Federal prosecutors appeal tax evasion sentence

The tax case against the founder of Beanie Babies, Ty Warner, continues as prosecutors challenge the lenient probation sentence handed down after Warner pleaded guilty to one count of tax evasion. Prosecutors alleged that Warner failed to report $24 million by hiding money in two Swiss offshore bank accounts, which […]

Tax Crimes

Belize firms accused of offshore tax evasion scheme

In a crackdown on offshore accounts, the Internal Revenue Service has placed more focus on the disclosure of foreign accounts. In addition, the Foreign Account Tax Compliance Act went into effect in July and requires foreign financial institutions provide the agency information on U.S. taxpayer clients. A recently unsealed indictment […]

Tax Crimes

Tax Preparer Sentenced to 2 ½ Years in Prison

A Durham, North Carolina woman is in hot water after being convicted and sentenced on charges that she falsified hundreds of thousands of dollars’ worth of tax returns in what seems to be an elaborate scheme that took place while she worked for a tax preparation business. Tasha Renee Smith […]

Tax Crimes

DOJ Increases Efforts to Prevent Fraudulent Tax Returns

Federal authorities are increasing their efforts to battle what they say is a growing problem of fraudulent filings seeking tax refunds based on stolen identities. Even those not normally associated with white-collar crime are being attracted to the simplicity of the scam which involves repeatedly filing false tax returns electronically […]

Tax Crimes

Congress to hold hearing on Swiss account compliance

The multi-front effort by U.S. authorities to enforce reporting requirements for offshore accounts is taking place on a complicated international stage. As we discussed in our September 6 post last year, there has been considerable pushback by U.S. taxpayers against the stepped-up enforcement. Surprisingly large numbers of those taxpayers have […]

Tax Crimes

Manny Pacquiao Battling Tax Evasion Accusations

Manny Pacquiao performed well in his recent fight against Brandon Rios, but unfortunately for Pacquiao, it appears he will be heading into another bout almost immediately – a bout with the Internal Revenue Service. The IRS claims the boxer has failed to paid taxes from 2008-2009 with back taxes amounting […]

Tax Crimes