SCOTUS recently heard oral arguments on a case involving a New York businessman convicted of several counts of tax evasion for failing to pay personal or company taxes for a number of years. The government presented evidence that Carlo Marinello II purposely destroyed business records (including bank statements, receipts, employee […]
Category: Tax Evasion
Offshore accounts are in the news again. Another massive data leak, this one referred to as the Paradise Papers, has resulted in the disclosure of the identity of a number of people and businesses that use these accounts. So what have we discovered from this most recent leak? Basically, we are […]
Shell corporations get a bad rap. There are situations when a shell corporation is not just legal, but makes good financial sense. Navigating through the legal intricacies that distinguish the legitimate use of a shell corporation from the illegal can be difficult. A recent case provides an example of an […]
It seems like a plot from a blockbuster action movie. A man takes on a position as a deep undercover agent, a spy for Germany. He blends into the criminal underworld, gathering evidence to support the arrest and conviction of drug dealers, diamond smugglers and terrorists all over the world. […]
Lionel Messi is known throughout the world for his soccer abilities. The sports star has made millions off his success, making a profit from both his actual sporting ability as well as his image. Unfortunately, his image took a hit when he was accused of tax fraud in 2016. The […]
Digital currency, such as Bitcoin, has gained in popularity over recent years. As a result, the Internal Revenue Service (IRS) is scrambling to update tax rules and regulations to address this new form of currency. The federal agency was recently chastised twice by Congress for its handling of digital transactions. […]
In part one of this post, we took note of the unsuccessful appeal by soccer star Lionel Messi of his tax fraud conviction. His attempt to claim lack of knowledge of his father’s use of shell companies to hide income didn’t go over well with the appeals court. The court […]
A year ago, the soccer star Lionel Messi was on the coveted cover of Sports Illustrated (SI). SI touted the success of his professional team and an upcoming match called the Copa America. What a difference a year makes. This week’s news about Messi is that an appeals court has […]
The Trust Fund Recovery Penalty (TFRP) is a powerful IRS tool for going after certain individuals who are considered personally responsible for a business’s unpaid employment taxes. We discussed it in considerable detail in an article on which parties can be held responsible. In today’s post, let’s consider a Texas […]
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, […]