Essentially a lifestyle is triggered when a person’s assets do not match their reported income. Through the lens of the IRS, the thinking goes something like this: If you own a mansion, a second or third vacation property, an expensive car, and a personal jet, it seems unlikely that your […]
Category: Tax Evasion
Intention, more times than not, is a “catch-all” criminal charge. Why? Because you do not have to prove someone actually DID something, only that they were going to do something, or acted with intention. So, the intent is not the actual doing of something, it is the mental preparation to […]
The ways in which people handle money differ from person to person. For some, using offshore accounts may make sense for their financial situations, particularly if they hope to gain some kind of tax advantage. However, if parties do not report the necessary information regarding their foreign accounts to the […]
The Department of Justice (DOJ) recently announced a physician accepted a plea deal after facing accusations of tax evasion. The government stated the physician failed to report on his tax returns for 20 years. Was it an accident? In most cases, a prison sentence tied to a tax crime involves […]
The federal government has continued its crackdown on tax preparation professionals. A recent case provides an example. Details of the charges The Department of Justice (DOJ) recently charged a tax preparation professional out of Georgia with fraud and false statements in a federal indictment. The charges are the result of […]
Use of foreign banks to hide assets is a well-known tactic for avoiding tax obligations. We know that individuals who attempt to avoid their taxes can face criminal charges that lead to high financial penalties and potential imprisonment, but what happens to a bank if it is complicit in the […]
Tax laws take years to examine. Once they go into effect, there is generally a period of confusion before taxpayers fully understand the impact of the law. Take the recent Tax Cuts and Jobs Act (TCJA) as an example. The law passed a few years ago and was fully in […]
The Internal Revenue Service (IRS) has started 2019 strong. In addition to collecting taxes in April, the agency has also already finished up seven big tax cases. These cases targeted three specific professions: Healthcare. The IRS and Department of Justice (DOJ) continue to crackdown on allegations of healthcare fraud. The government […]
Tax evasion. It sounds like the type of crime that is used by the government to prosecute heinous offenders who have otherwise hidden evidence and appear innocent of wrongdoing. When people think of tax evasion crimes they may think of Al Capone and other mafia leaders or drug lords. In […]
Cristiano Ronaldo, soccer superstar from Portugal, has agreed to plead guilty to charges of tax evasion. Ronaldo entered a Madrid court this past Tuesday and plead guilty, agreeing to pay a fine of $21.6 million dollars for his alleged tax fraud crimes. A bit of history: The basis of the allegations In […]