Tax Law Blog

In its annual call-out of common scams to defraud federal coffers, offshore tax evasion still ranks high for the Internal Revenue Service (IRS).

Boo Boo made a boo-boo.  A fraudster with the handle “Boo Boo” is heading to prison for 30 years on multiple counts of tax fraud, identity theft, and federal tax crimes.

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). 

Americans are required to comply with the requirements of Foreign Bank Account Reports. Failing to report a foreign bank account that has a value of $10,000 at any point during the year can result in serious consequences of FBAR violations. The...

Taxpayers with undisclosed foreign assets urged to come forward now.

The Internal Revenue Service today announcedit will begin to ramp down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close the program on Sept. 28, 2018. By alerting...

In an effort to address international offshore tax evasion and avoidance, the European Union (EU) created a blacklist in December 2017 that identified 17 countries and put 47 more on a “gray list” for failing to meet international standards of...

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?

Secret Swiss accounts, loose gems, and shell companies figured prominently in the case against a Connecticut resident who pled guilty to tax crimes and failure to report on offshore assets.

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.