Skip to Content

Category: Tax Evasion

Tax inversions: Treasury ordered to review regulations

More than 30 years have passed since Congress passed reform of the federal tax code in President Reagan’s second term. The question of whether such reform can happen this year, during President Trump’s first term, will be getting plenty of attention in the coming days. Somewhat beneath the radar, however, […]

Tax Evasion

Failure to file: What if it is ‘willful’?

The monetary penalty for failure to file an income tax return is a maximum of 25 percent of the unpaid taxes. Criminal prosecution is also possible, however, if tax authorities believe the failure to file was a willful attempt to evade taxes or commit tax fraud. In this post, we […]

Tax Evasion

Tax compliance, by any other name

“A rose by any other name would smell as sweet,” goes Shakespeare’s famous line from Romeo and Juliet. The idea is the essence of thing is what matters, apart from the name it is given. Still, names for things do contain important distinctions. In this post, let’s consider the distinction […]

Tax Evasion

Sports stars and money management: when things go wrong

College athletes still aren’t paid (other than receiving scholarships). But the role of agents and advisers is very important in helping players procure pro contracts and managing their money if and when they do. Like other financial advisers, those who represent athletes can run afoul of tax authorities. In this […]

Tax Evasion

Election angst leads many to consider moving abroad

According to some sources, Google searches for “emigrating to Canada,” “moving abroad” and “leaving the U.S.” (among others) spiked the night of the first election debate between Hillary Clinton and Donald Trump. Say what you will about either candidate, the truth remains that this election cycle has been a tumultuous […]

Tax Evasion

Contentious Wyly case continues to unfold

Contentious tax litigation can take a very long time to resolve. For over two years, we’ve been following a complicated fraud and tax evasion case involving two Texas brothers, Charles and Sam Wyly, who set up a series of offshore tax shelters that ran afoul of federal regulators. The twists […]

Tax Evasion