Sophia Loren, Italy’s iconic actress has been fighting charges levied against her for over 30 years. In 1974 Italian officials claimed the actress attempted to evade taxes. Ms. Loren voluntarily surrendered and went to jail in 1982 for 17 days of a 30 day sentence. Ms. Loren claimed that her […]
When someone is convicted of a criminal tax offense, judges have many factors to weigh that can bear on sentencing. To be sure, federal sentencing guidelines provide a prescribed range. And both the prosecution and the defense can recommend a specific sentence. But it is up to the judge to […]
Switzerland, known for its banking secrecy, ended that tradition on Tuesday by signing an international agreement to fight tax evasion. This marks “the end of banking secrecy” in Switzerland, the head of tax issues at the Organization for Economic Cooperation and Development, Pascal Saint-Amans, told AFP. The signing of this […]
Russia’s Vladamir Putin has presented a bill that will restore the right of investigators to open tax fraud cases without a request from tax authorities. Skeptics fear that businesses will face renewed persecution. Should Putin’s attempt be successful, the amendments to the criminal code would reverse a 2011 reform by […]
The IRS’s heated pursuit of individuals with offshore accounts is becoming more aggressive by the day. With tactics like John Doe Summonses, the feds took aim at Swiss banking secrecy and delivered a fatal blow. This war is hardly new. In 2009, the feds brought UBS down with a deferred […]
A chartered accountant and former vice president of finance and administration for a London-area tool and mold company pleaded guilty to three counts of tax evasion in an Ontario Court of Justice in London and will face a fine to the tune of $80,000. Rob Roy McGregor of London, Ontario, […]
Former State Rep. Girod Jackson, pleaded guilty to three counts of tax evasion and tax fraud before a federal judge Thursday. Jackson’s firm came under scrutiny during a federal probe of the Jefferson Parish Housing Authority. Jackson resigned on August 22, after the charges were filed. Jackson’s plea was expected […]
The connection between charitable giving and tax write-offs shows the complexity of human motivations. On the one hand, many people are altruistic and enjoy helping others and the wider community by giving gifts to charities that perform various forms of service. On the other hand, though, the ability to take […]
Following a deal between the United States and several Swiss banks to pay fines rather than face a criminal investigation, Zurich bank Rahn & Bodmer has disclosed that they are currently under investigation by the U.S. Department of Justice. Long known for being a tax haven for wealthy individuals, Swiss […]
For many years, Americans were able to hold money in offshore accounts without worrying about being prosecuted by U.S. authorities. All of that has changed in the past few years. Since the United States began its intense crackdown on undisclosed offshore accounts in 2009, it has used its long-arm to […]