Despite accusations that the notorious Capone was guilty of directing or committing many crimes through his organized syndication, tax evasion was ultimately the offense the federal government pursued which resulted in Capone's sentence to federal prison in...
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Tax Crimes
California tax crimes: Family inherited tax evasion problems
When the founder of International Investment Advisors LLC passed away in 2001, he was worth approximately $24 million. What his family may not have realized at the time was that over half of that fortune was held in overseas bank accounts and taxes had not been paid...
Central District of California to hear tax crimes case involving refunds
A man will soon be transported by the U.S. Marshals Service to the Central District of California to face charges involving tax fraud and identify theft. The IRS Criminal Investigation division conducted the investigation that led to the man's indictment on tax...
Retired banker in California faces 5 years for tax crimes
A man who dedicated 40 years of his life to the banking industry may end up doing time in prison as a result of not reporting bank accounts on his U.S. tax returns. The man, who retired in California, has been ordered to pay a fine in the amount of $1.5 million for...
OECD Recommends Steps to G8 to End Offshore Tax Evasion
The Organization for Economic Cooperation and Development (OECD) has identified four steps necessary for transparency and the automatic exchange of information regarding financial accounts through a cost effective and secure system, in an effort to end offshore tax...
GAO Recommends Changes to Catch Tax Evasion by Offshore Account Quiet Disclosures
Early this year, the United States Government Accountability Office (GAO) identified an area of tax evasion the IRS may have missed. Specifically, taxpayers with undisclosed offshore accounts who have attempted to come into compliance quietly, and not through one of...
Disproportionate Penalties for FBAR Non-Filers
In the National Taxpayer Advocate's 2012 Report to Congress, it issued data highlighting the disproportionate penalties to account holders with undisclosed offshore accounts who participate in the IRS' Offshore Voluntary Disclosure Program (OVDP). Generally, if a...
Couple charged with tax crimes including tax evasion
California taxpayers may be interested to know that a couple was recently indicted in federal court on counts of fraud and tax evasion. At the heart of their alleged tax crimes is nearly $1 million the IRS says the couple hid in an offshore account. The couple has...
Federal Court in San Francisco Authorizes Service of John Doe Summons on Wells Fargo Seeking the Identities of U.S. Taxpayers with Offshore Accounts
A federal court in San Francisco authorized the Internal Revenue Service (IRS) to serve a John Doe Summons seeking information about U.S. taxpayers who hold correspondent accounts at Wells Fargo for Canadian Imperial Bank of Commerce's FirstCaribbean International...
California inmates commit tax crimes from within prison walls?
The Treasury Inspector General for Tax Administration has reported that the amount of tax fraud perpetrated by prison inmates has risen upwards of 1,000 percent over the past 10 years. Reportedly, these tax crimes tend to go unpunished for years at a time. Some...
