Tax Evasion

Black Friday has passed, as has the social outcry from many who accuse retailers of stripping Thanksgiving of its real meaning by starting the holiday shopping season early. Today, the limelight is on Cyber Monday. According to Forbes magazine, surveys of consumers indicate that some 86 percent of working folks are planning to spend some […]

A common question asked related to federal income tax filing is: How long should I hold on to receipts? It’s a fair question, considering that if the Internal Revenue Service decides to investigate and order an audit, they likely will want to go back a ways. Receipts will help confirm that claims made in filed […]

Switzerland has long stood as the icon of banking confidentiality. As we’ve written about often in recent months, the United States has been particularly aggressive about going after Swiss banks in an effort to uncover unreported (and therefore untaxed) cash held by Americans. Late last week, the two countries announced they have formalized processes that […]

It’s no big secret that the United State government has been working diligently to close the lid on suspected American tax evaders. Foreign bank accounts have been the big targets. Anyone who is found to have not completed a Report of Foreign Bank and Financial Accounts, informally known as an FBAR, runs the risk of […]

When the federal government goes after an individual for tax crimes the process usually occurs in stages. Each stage represents an instance during which opportunities may exist for mitigating the effects and perhaps reducing the chances of a case coming to full prosecution. Whether the person under investigation is somewhere in the Washington, D.C., area […]

We who live in the Washington, D.C., area know it is a cosmopolitan place. There are many people who live throughout the District and suburban Maryland and Virginia who are new immigrants or first-generation citizens. Any who work and make a living here have the obligation of filing their yearly income tax returns. But there […]

Some months ago we wrote about the case of wealthy heiress Mary Estelle Curran and how she had become a target of the Internal Revenue Service because of funds held in foreign bank accounts. It’s a story that we suspect a lot of our readers in the Washington, D.C., area found intriguing. Curran pleaded guilty […]

We’ve written a bit in recent posts about the Internal Revenue Services efforts to close the loop on U.S. citizens they suspect of using foreign banks to hide wealth and income from tax liability. Swiss banks and the accounts they hold have garnered much of the limelight, but banks all around the world are under […]

Now is clearly not the time to be playing coy with Washington. As we’ve noted for a while now, the Internal Revenue Service is stepping up its tax evasion enforcement game against Americans in the District of Columbia area and the rest of the country who they suspect of having undeclared caches of cash in […]

Many working Americans would agree that there is nothing better than cold, hard cash. For businesses owners who choose to pay employees in cash, however, there can be tax problems related to dealing in cash. Likewise, being paid in cash can also result in unmet tax obligations for employees that can land them in hot […]