With bitcoin surging in price over this year from $17 to $1,200, many invested in the virtual currency are wondering what sort of taxes they should expect to pay from gains, if any. While the Federal Reserve stated that “virtual currencies like bitcoin have legitimate uses and should not be […]
Category: Tax Evasion
Strident anti-tax arguments have increasingly gained a hearing in the U.S. in recent years. Political scientists make careers out of the tracing the roots of this. From Ayn Rand’s influential novel “Atlas Shrugged” to more recent Tea Party protests, the issue of excessive and arguably unjust taxation has been much […]
The management of United Steel Company Limited has refuted claims that the company evaded $86,059,463 in taxes, and instead suggests that the allegation made by the presidential task force through the media was meant to drag the names of reputable companies through the mud. A statement issued by the company […]
Former State Rep. Girod Jackson, pleaded guilty to three counts of tax evasion and tax fraud before a federal judge Thursday. Jackson’s firm came under scrutiny during a federal probe of the Jefferson Parish Housing Authority. Jackson resigned on August 22, after the charges were filed. Jackson’s plea was expected […]
Edgar A. Lockett Jr., 70, was convicted on Friday of six counts of tax evasion by an Amarillo jury after failing to pay more than $1.4 million in income taxes. Lockett, an anesthesiologist, faces up to five years in prison and was taken into custody of the U.S. Marshals Service […]
In the last few years, U.S. authorities have stepped up their efforts on multiple levels to crack down on a perceived problem with the use of offshore accounts to evade U.S. taxes. One of these levels has been to offer incentives for taxpayers with undisclosed foreign accounts to participate in […]
The issue of worker classification for tax purposes is one we’ve been following closely in this blog. In our June 28 post, we wrote about the incentives the IRS has offered for employers to voluntarily reclassify workers as employees rather than as independent contractors. The IRS remains very concerned about […]
Two “Real Housewives of New Jersey” stars were indicted Monday on federal fraud charges. Teresa Giudice, 41, and her husband Guiseppe “Joe” Giudice, 43, have been accused of exaggerating their income while applying for loans before their TV show debuted in 2009, then hiding their improving fortunes in a bankruptcy […]
Benjamin Franklin once said, “In this world nothing can be certain, except death and taxes.” This couldn’t be more true for Grammy-winning singer Lauryn Hill as she begins serving a three-month prison sentence in Danbury, Connecticut for failing to pay $1 million in taxes over the past decade. Hill, who […]
The relationship between a father and a son is undeniably a crucial one. After all, for many boys, their father is their first role model. For the lucky ones, he is their first hero. To be sure, many boys grow up without a father. Others have abusive fathers. Yet even […]