You can inherit an offshore account from a relative, or you may have a business interest outside of the U.S. Perhaps you are hedging investments as part of a diversification strategy. Owning an offshore bank account is not a crime as long as the holders abide...
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 is the deliberate non-payment or incomplete payment of taxes through a false declaration report to the tax authorities. Overstating losses and declaring fewer profits than the actual figures is criminal activity and could result in severe penalties. Some...
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...
Running a business can be difficult, but it's important to make sure that you're doing everything within legal confines. One thing you want to avoid is facilitating tax evasion in your business. This can get you into a lot of trouble with the IRS and could even lead...
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...
Federal tax law is complicated. Oftentimes, tax disputes and conflicts can occur among individuals and organizations. Taxation disputes have proved to have costly impacts, like interest imposition and penalty assessments, back tax, and sometimes criminal...
In early 2021, the United States Congress passed H.R. 1786, also known as the "Stop Tax Haven Abuse Act." The passage of this new legislation marks a renewed focus on eliminating tax evasion by the IRS, the Department of Justice and the United States government as a...
Tax evasion is more complicated than forgetting to file a tax return. The common theme in criminal tax evasion is a willfulness to avoid assessment of a tax or actions taken to purposely evade the payment of taxes. I.R.C. § 7201 - Attempt to evade or defeat...
Any businesses or corporations that try to hide their tax obligations behind other entities will not be successful under the IRS' alter ego theory. The following will explain what the alter ego theory is and how it could be established that third-party business...
