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Gideon Misulovin, a former New York business man on trial for tax evasion and fraud in 1996, appeared in US federal court on July 17, 2015 for the first time in 19 years.On March 7, 1996, a jury convicted Mr. Misulovin of conspiracy to impede and impair the IRS in the...
Making money from your favorite hobby, such as stamp or coin collecting, craft making, or horse breeding? Any income earned from a hobby activity must be reported on your annual federal income tax return, however, the way hobby income is reported is different than...
On Tuesday, July 15, 2015, National Taxpayer Advocate Nina E. Olson released her mid-year report to Congress. The report identifies the priority issues the Tax Payer Advocate Service ("TAS") will address during the upcoming fiscal year. In addition to recapping the...
Last week, Preet Bharara, the United States Attorney for the Southern District of New York, Diego Rodriguez, Assistant Director in Charge New York Field Office of the Federal Bureau of Investigation ("FBI"), and Timothy P. Camus, Deputy Inspector General for...
In the past two weeks, three Swiss banks--Bank Linth LLB AG (Bank Linth), Bank Sparhafen Zurich AG (BSZ), and Ersparniskasse Schaffhausen AG (EKS)-have reached resolutions under the Department of Justice's Swiss Bank Program. The Swiss Bank Program, which was...
For those with one or more bank of financial accounts located outside the United States, or those who have signature authority over such accounts, Report 114, Report of Foreign Bank and Financial Accounts is due Tuesday, June 30, 2015. For more information, see the...
On June 3, 2015, the California Labor Commissioner found an Uber driver to be an employee, and thus eligible for reimbursement for mileage and other expenses while providing rides for the tech company, which claims to be engaged in the business of providing lead...
In its pledge to seek financial transparency, the Holy See (the ecclesiastical jurisdiction of the Catholic church) signed on to become the newest member to FATCA, the U.S. Foreign Account Tax Compliance Act, that requires banks and financial information to report...
On June 9, 2015, the Department of Justice Tax Division announced it had reached resolution with two more banks in its Swiss Bank Program. Société Générale Private Banking will pay a $17.807 million penalty and Berner Kantonalbank AG will pay a $4.619 million penalty...
On Monday the Ninth Circuit Court of Appeals issued an opinion in Slone v. Commissioner of Internal Revenue, No. 12-72464 (and related cases). At issue in Slone was whether shareholders of Slone Broadcasting could be held liable for the unpaid tax liabilities of Slone...
