Most people are familiar with the Internal Revenue Service, which collects and audits taxes that are used to fund the operations of our federal government. However, you might be surprised to learn that when it comes to tax fraud cases, they are not entirely handled...
Certain parts of the world attract businesses and investors because of their tax laws and tax advantages, one of which is the British territory of the Cayman Islands. The Cayman Islands are one of the most well-known tax havens in the world. What is a "tax haven"? Tax...
Being convicted of tax fraud or tax evasion can result in prosecution and the possibility of prison. There can also be heavy fines. The crime may also get categorized as civil tax fraud. It's crucial to note that criminal tax penalties have nothing to do with civil...
Understanding the tax laws surrounding offshore accounts is vital, but it can be as confusing and overwhelming as it is important. There are many ways a person can commit tax crimes in relation to offshore accounts, often without knowing. Unfortunately, in the eyes of...
If you employ individuals to work for you full-time, you must hold back part of their paycheck for income tax. The government requires all employers to collect and pay taxes in accordance with the Federal Insurance Contributions Act (FICA). Failure to abide by...
Federal law requires American taxpayers to report their employment, income and other tax obligations to the Internal Revenue Service (IRS) annually. Intentionally failing to satisfy these filing requirements can have severe consequences. In this post, we look at the...
Tax fraud is a term that encompasses a range of activities. The important distinction between tax fraud and an accidental error on a tax return is intention. Knowingly committing the following acts constitutes engaging in tax fraud, which carries potential large...
While most people think of tax fraud in terms of personal income tax filings, employment tax fraud is another prevalent issue in the state of Massachusetts. Employment tax fraud is a tax crime committed by a company against the state and federal government....
Tax evasion in the United States is more common than you might think. However, most people don't know that it is a serious crime. This article will take a comprehensive look at everything you need to know about tax evasion, including what it is and the...
Having an offshore account is legal as long as the account holder follows the required disclosure and filing mandates outlined by the IRS. Foreign banks also require that their clients comply with the local and international tax laws to avoid litigation risks...
