If federal authorities accuse you of tax fraud, the steps you and your attorney take in response are crucial. Given the complexity of the tax code, it is important to get counsel from an experienced tax attorney who knows how to defend and resolve criminal tax charges. In this post, […]
Category: Tax Evasion
Tax-filing season for this year still has a couple of months ago. But what if you still have not filed taxes for previous years? In this post, we will explain how important it is to put a plan in place to address past-due federal taxes. One possible consequence of not […]
In part one of this post, we discussed the important distinction between tax avoidance and tax evasion. Tax avoidance, we explained, involves using legal means to get around or minimize tax liability. Tax evasion, by contrast, involves actions such as not reporting income that, when done willfully, can lead to […]
Sometimes two words seem to have similar meanings, but actually stand for very different things. Consider, for example, the words “avoidance” and “evasion.” Both of these words generally refer to getting around or keeping away from something. In the context of tax compliance, however, tax avoidance and tax evasion have […]
The Foreign Account Tax Compliance Act (FATCA) has not only made it more difficult for U.S. taxpayers to comply with the complicated reporting requirements for offshore accounts. It has also created burdensome new obligations for foreign financial institutions (FFIs) that serve U.S. taxpayers. As we noted last week, the U.S. […]
Last week, hundreds of millions of people around the world revisited the familiar story of the birth of Jesus. As the story goes, it came during a census of the Roman provinces of Judea and Syria that brought a couple named Joseph and Mary to a town called Bethlehem. Amid […]
It’s been awhile since we last discussed the issue of worker classification on this blog. But the question of whether a worker is properly classified as an independent contractor – thus enabling the employer to avoid payroll taxes – remains a lively one in Texas and across the country. In […]
This is an update to a post we did earlier in the week on the trial of former Swiss banker whom U.S. authorities had charged with criminal conspiracy for allegedly helping Americans evade taxes on undisclosed foreign accounts. As we noted in our November 3 post, Raoul Weil, a former […]
There is a three-year statute of limitations for most tax matters. That may stretch out to six years if the income omission was significant. Failure to report a quarter of the income you received in a year could trigger the longer statute of limitations. This is important for record keeping. […]
Hedge funds are preparing to capitalize on the wave of takeover deals designed to lower taxes for U.S. acquirers. While President Barack Obama has attempted to discourage the practice known as “inversions,” in which a U.S. firm buys a foreign company and moves overseas in order to avoid higher taxes, […]