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Tax Evasion Archives

Clarifying the “John Doe” summons from the IRS on Coinbase

The financial world is evolving. This is not the first time the economy has shifted its focus. The focus has shifted in the past from one that depends on gold as currency to paper dollars to credit cards. The shift is now moving to the novel world of digital currency.

Coming (fully) clean: Does the OVDP cover unreported domestic income?

In terms of sheer revenue generated, limited-amnesty programs for noncompliance with offshore reporting requirements has been tremendously successful for the IRS. Since the IRS started these initiatives in 2009, the amount of revenue generated in fines, penalties and back taxes is upwards of $10 billion.

The foreign earned income exclusion: a Q & A

In recent posts, we've explored how maintaining compliance with rules for offshore accounts has become increasingly burdensome in recent years. These burdens include stepped-up enforcement of existing requirements and the implementation of a complicated new law, the Foreign Account Tax Compliance Act (FATCA).

Uncertain offshore calculation, part 1: Are the penalties in the OVDP too pricey?

The ongoing IRS enforcement crackdown on offshore accounts has been remarkably lucrative for Uncle Sam. Since the crackdown began in 2009, it has driven more than 100,000 taxpayers into IRS programs to resolve their offshore compliance issues and generated upwards of $10 billion in back taxes, interest and penalties from those taxpayers.

Taxing illegal income: Long after Al Capone, charges still occur

It's been 85 years since the IRS took down Al Capone. Other law enforcement agencies had sought to prosecute the famed gangster for murder, extortion and host of other crimes. But it was the IRS that put him in prison, on a charge of tax evasion.After so long, the Capone case might seem as if it has passed into legend. But prosecutions for willful intent to evade taxes on illegally obtained income still occur.In this post, we will inform you about one of them.

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