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In court proceedings, hearsay is a statement made out- of- court coming in for the truth of the matter asserted. In essence, it is a statement elicited of a witness where the witness is repeating what she or he was told by someone else. So a hearsay statement is often prefaced by the courtroom witness testifying, “He told me...” or “She said to me that....” Hearsay, which might include oral testimony and Read More
Estate-Swindling Ex-Atty On Hook For Unpaid Taxes
By Michael Macagnone Law360, Washington (August 1, 2016, 7:16 PM ET) -- A former attorney still has to face the music for unpaid tax bills tied to an admitted scheme to bilk millions of dollars from a client's estate, after he already paid criminal restitution to the IRS, the U.S. Tax Court ruled Monday. Monday’s decision caps a five-year case brought by former attorney Robert L. Schwartz challenging an IRS tax bill Read More
Why Do the Panama Papers Name So Few American Clients?
From The American Lawyer By Michael D. Goldhaber U.S. citizens get relatively few mentions in the Panama Papers. The explanation might be aggressive American tax enforcement—or inadequate U.S. measures to counter money laundering. Click here to read the rest of this article. Read More
Israeli Bank Secrets Smuggled in Necklace to Help U.S. Tax Cheat
From: Bloomberg By David Voreacos A Swiss banker used a toothpaste tube a decade ago to smuggle diamonds into the U.S. Prosecutors now say an Israeli bank employee devised a new way to help a U.S. client hide assets from the Internal Revenue Service: She carried account statements into the country on a USB flash drive concealed in her necklace. The businessman, Masud Sarshar, agreed to plead guilty to hiding more Read More
Fla. Atty Pleads Guilty To Filing False Federal Tax Returns
By Nathan Hale Law360, Miami (July 27, 2016, 6:16 PM ET) -- A Florida attorney pled guilty in federal court Wednesday to filing false personal income tax returns for 2007-2012 that resulted in her underpaying her taxes by nearly $1 million for those years. Kathleen Kozinski, who owns a solo estate planning and probate practice known as Kathleen G. Kozinski PA in Jupiter, Florida, is accused of intentionally Read More
IRS Wage Levies: The Worst Kind of Garnish
When it comes to eating a fancy dinner, a garnish can be the perfect compliment to an outstanding culinary delight. When it comes to your taxes, however, any type of garnishing is going to be very bad news. That’s because the IRS has the power to garnish your wages in order to satisfy unpaid tax liabilities. In the financial context, a garnishment is a type of levy imposed on your wages in order to satisfy unpaid Read More
Understanding the Concept of Double Jeopardy
Essentially Double Jeopardy is being tried for the same crime or offense more than once. The 5th Amendment to the United States Constitution is commonly referred to as the "Double Jeopardy clause." The 5th Amendment states that "No person . . . shall be subject for the same offense to be twice put in jeopardy of life or limb." However, today one need not face execution or physical injury to his or her body to be Read More
IRS And SEC Have Contrary Views On Disgorgement
From Law 360 On May 6, 2016, the IRS released a chief counsel advice[1] stating that disgorgement payments to the U.S. Securities and Exchange Commission in a corporate Foreign Corrupt Practices Act enforcement action are not tax-deductible. The corporate taxpayer in the CCA allegedly violated the internal controls and books-and-records provisions of the Foreign Corrupt Practices Act. The taxpayer entered into a Read More
Fed. Circ. Rejects Convicted Ex-CEO's $18M Tax Refund Suit
By Christine Powell Law360, New York (June 10, 2016, 8:15 PM ET) -- The Federal Circuit in a precedential opinion on Friday rejected the former CEO of Qwest Communications International Inc.’s bid to recover almost $18 million in taxes after he forfeited millions in proceeds from stock sales as part of a criminal conviction for insider trading. A three-judge panel reversed the U.S. Court of Federal Claims’ holding Read More
Dennis Kainen and Alan Weisberg attend the Transition, Inc. 2016 Judicial Reception
Attorneys Dennis Kainen and Alan Weisberg recently attended the Transition, Inc. 2016 Judicial Reception. Check out a couple of pictures from the event below! Read More
