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Receive a pension distribution from a Malta pension fund? If you are a U.S. citizen, you will be unhappy to learn that the distribution is taxable for U.S. purposes, following the discovery of abuse by U.S. taxpayers with no prior connection to Malta. Through a...
The IRS has determined it can collect far more in unpaid taxes from Marijuana Related Businesses (MRBs) than other industries ripe for audit. As a result, the IRS has been focusing on MRB audits for civil assessments which in some cases become criminal referrals. If...
Traci Austin, the owner of Emeryville Tax Services in Brentwood, California, has been charged with not only preparing fraudulent tax returns for her clients, but also teaching students how to manipulate returns for profit as well. Austin allegedly charged her students...
The Los Angeles County Superior Court has decided that streaming video providers like Netflix are not subject to local video service provider fees. This decision comes after the City of Lancaster filed a class action lawsuit (City of Lancaster v. Netflix et al.),...
In the IRS’ Fiscal Year 2021 Financial Report, Charles P. Rettig, Commissioner of the Internal Revenue Service, reflects on the IRS’ progress and accomplishments over the last year. Between October 1, 2020 and September 30, 2021, $4 trillion in taxes were collected,...
Last week, the Department of Justice reported on several employment tax fraud cases. In Virginia, James C. Jones, Jr., an ambulance business owner, was arraigned and charged with multiple crimes including tax evasion and filing false tax returns. Mr. Jones allegedly...
Today marks the end of Charity Fraud Awareness Week, an international campaign that the IRS has recently joined to help bring attention to scams targeting charities. Unfortunately, charitable organizations are often victims of fraud, cybercrime, and scammers looking...
This week, the IRS granted $41 million to 34 Tax Counseling for the Elderly (TCE) and 300 Volunteer Income Tax Assistance (VITA) organizations. Both programs provide free assistance and counseling on federal return preparation: TCE to individuals 60 years and older,...
Oleg Tinkov, a Russian-born former U.S. citizen who renounced his U.S. citizenship three days after his assets rose to over one billion dollars, has agreed to pay over $500 million in taxes, penalties, and interest to the U.S. Treasury! Tinkov lied on his U.S. Initial...
Switzerland, Singapore, and South Dakota all have something in common…these jurisdictions are favored by the extremely wealthy for bank secrecy, which often includes tax evasion, money laundering, and other crimes including worker exploitation. In 2014, Trident Trust...
