You may have “forgotten” to file a Foreign Bank and Financial Accounts Report (FBAR).  Maybe you forgot for several years.  You knew about the requirement, but didn’t like the idea, and you failed to alert your accountant to your offshore tax...

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A recent legal case profiles the determination of the Internal Revenue Service (IRS) to pursue and collect on tax fraudsters and those who do not report offshore tax holdings.

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What started out as a fish restaurant venture turned into a whopper of a federal criminal tax investigation, leaving the owners in hot water—and facing up to five years in prison.

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Admitting it advised and helped its clients avoid paying US taxes, Israeli bank Mizrahi-Tefahot agreed to pay $195 million as part of a deferred prosecution agreement.

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Bright lights, big city and tax fraud: the story plays out repeatedly and did so again, only this time it involved the storied Friars Club of Manhattan.

 

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In a large-scale fraudulent tax return scheme based on identity theft, a Missouri man and his accomplices garnered more than $12 million in ill-gotten tax refunds from the IRS.

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Described as a doyenne of the New York art scene, gallery owner Mary Boone intends to ask for leniency after pleading guilty to allegations of tax crime that were the result of an IRS criminal tax investigation.

 

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Actor Wesley Snipes has a long-running history of tax controversy with the IRS.  In November, 2018, Mr. Snipes was handed another defeat when an IRS decision to reject his offer-in-compromise was upheld by the United States Tax Court.

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You or your company might underreport your income a little.  Maybe you don’t reveal all of your foreign holdings on your FBAR.  Or, maybe you cooked up a scam over a few years that finds you claiming deductions you have no hope of being able to...

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The Panama Papers leak has yielded its first criminal indictment in the United States.

 

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