Tax Law Blog

Despite dogged pursuit of US citizens for tax fraud and hidden foreign bank accounts, the US ranks a global number two as a reliably safe place to stash secret cash.

Late in 2017, the Internal Revenue Service (IRS) rolled out a second set of campaigns to complement its strategic Large Business and International Compliance Campaigns (LB&I). 

The self-proclaimed “Tax Beast” was recently sentenced to three years in prison and ordered to pay $892,902 to the Internal Revenue Service after filing fraudulent tax returns. The criminal matter reminds others of the powerful reach of the IRS and...

Reminding us of the importance of properly prepared tax documents, the Internal Revenue Service (IRS) recently obtained a guilty plea from one tax professional and sued to shut another one down for preparing fraudulent tax returns.

At the recent 34^th annual National Institute on Criminal Tax, the Department of Justice (DOJ) announced that it intended to impose stricter sentences in Foreign Bank Account Report (FBAR) cases. Under these new rules, violators could be subjected to...

The so-called Paradise Papers are getting a lot of press.  What does this set of leaked files mean to the worried wealthy?

Ongoing budget cuts appear to be weakening the enforcement efforts of the Criminal Investigation branch of the IRS, according to its most recent annual report.

The Internal Revenue Service (IRS) and United States Department of Justice (DOJ) are continuing their crack down on tax compliance for those who are avoiding their obligations through the use of foreign bank accounts. The most recent efforts involve...

For overseas holdings in excess of $10,000, US residents are required to file a Report of Foreign Bank and Financial Accounts (FBAR). One Connecticut man, with over $28 million in overseas accounts, failed to do so and has pleaded guilty to the...

Those who leave the United States and take up residence in another part of the world may believe that they are no longer required to pay taxes in the United States. This belief is generally untrue. Similarly, the children of parents that are...