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From Law 360 By Chuck Stanley Law360, Washington (January 31, 2017, 5:21 PM EST) -- The U.S. Tax Court on Friday awarded husband-and-wife whistleblowers $17.8 million for their role taking down a $74 million corporate tax fraud scheme, denying the IRS’ motion for reconsideration. The decision upholds the court’s previous ruling that awards to whistleblowers should be based on all of the money collected by the U.S. Read More
A Brief Introduction to the Racketeer Influenced and Corrupt Organizations Act (RICO)
Do you know RICO? You probably hear a lot about RICO in the news or you’ve seen it mentioned in movies or on TV. That’s because RICO is one of the more potent and all-encompassing federal criminal statutes that is used against individuals who are alleged to be involved in organized crime, securities fraud, and other pricey crimes. But, what exactly is RICO—besides the “Racketeer Influenced and Corrupt Organizations Read More
Additional Pleas to Offshore Account Tax Crimes
DOJ Tax announces, here, the plea to three U.S. offshore account holders. The banks are the usual suspects -- UBS, Credit Suisse, Bank Leumi and others -- in Switzerland and Israel. Each of the three related persons -- Dan Farhad Kalili, David Ramin Kalili and David Shahrokh Azarian -- pled to one count of failure to file FBARs, a five year felony. Sentencing is later. The key excerpts are: Beginning in May 1996, Read More
Dormant Accounts: How a Theft Changed Swiss Banking
From FiNews It is twenty years now that a night guard stole documents destined for the shredder at the predecessor of UBS in Zurich. The theft indirectly caused one of the biggest ever crisis for Swiss banking. And is exemplary for the woes of a once proud industry. Christoph Meili was doing his shift at Union Bank of Switzerland in the night to January 9, 1997, when he spotted documents ready for destruction. He Read More
Weisberg Kainen Mark, PL Featured by South Florida Legal Guide
Weisberg Kainen Mark, PL was recently featured by South Florida Legal Guide! Read More
There’s a Fine Line Between “Cooperation” and “Incrimination” with the IRS
The manner in which one responds to being selected for an IRS audit can run the gamut of possible reactions, but typically the response of the average taxpayer will be one of two possible extremes. One extreme is sticking the head in the sand and completely ignoring the request or giving so little information as to be considered uncooperative. The other is to provide excessive information in order to prove how Read More
Westchester County Attorney Charged with Failing to File Tax Returns for Three Years
William O’Hagan, who is also a CPA, is accused of intentionally failing to pay NYS more than $86,000 The New York State Department of Taxation and Finance today announced the arrest and arraignment of a PricewaterhouseCoopers tax partner who allegedly failed to file his state personal income tax returns three years in a row. William J. O’Hagan, 56, of 940 King Street, Chappaqua, was charged with two counts Read More
Federal Tax Law: How to File a Formal Protest with the IRS
An IRS audit of your tax return is daunting enough, but what happens if you do not agree with the findings of the audit? The good news is that you have options for contesting the IRS’ findings through the IRS’ appeals process. The appeals process starts when you receive the determination that is unfavorable to you. For our purposes, let’s say the IRS disagreed with your deductions of expenses for business purposes Read More
Texas Doctor Fights $4.3M IRS Fine Over Withholding Issues
By Natalie Olivo Law360, New York (December 9, 2016, 9:33 PM EST) -- The founder of a medical services provider asked a Texas federal judge on Friday to reconsider a $4.3 million tax judgment against him, arguing that he should only have to pay $100,000, the available funds he withheld from the Internal Revenue Service upon learning of his company's tax liabilities. Robert L. McClendon urged U.S. District Judge Lee Read More
Understanding the Key Differences Between State and Federal Criminal Court
The differences between state and federal criminal courts are both obvious and subtle. Obvious differences include funding and breadth with a state criminal court being responsible for a relatively small geographic area while a federal district court may cover an entire state. Subtle differences include the types of crimes the two have jurisdiction to hear, the guidelines that each uses to mete out sentences, and the Read More
