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How the IRS took down Al Capone

Everyone has heard of notorious U.S. mobster Al Capone. But few may realize that it wasn’t his many crimes committed as a mob boss that landed him in federal prison – it was tax evasion. For years, state and federal prosecutors tried to charge and convict Capone for various crimes […]

Tax Crimes

IRS is not just the tax collector; it is also the tax police

The Internal Revenue Service is much more than just the federal agency that collects taxes. It has broad power to investigate individuals and businesses for evidence of potential tax crimes like fraud or evasion involving tax preparation, bankruptcy, banking, gaming, health care, underreporting, employment taxes, identity theft, money laundering, tax […]

Tax Crimes

‘Structuring’ suspicions and seized assets: An IRS about-face?

Under the Bank Secrecy Act, $10,000 is the threshold amount for triggering various reporting requirements for cash transactions. The law is supposed to deter money laundering by big-time drug dealers, organized crime figures or terrorist groups. Far too often, however, federal authorities accuse ordinary citizens of “structuring” their transactions, i.e., […]

Tax Crimes

Self-employment taxes: 3 things to know

Self-employed workers have tax compliance challenges that other taxpayers do not. The underlying reason for this fairly simple: workers who are considered self-employed for tax purposes have to pay their Social Security and Medicare taxes. You don’t have an employer withholding and paying it for you, but instead have to […]

Tax Controversy