If you operate a business with significant cash income, the IRS and state taxing authorities are always watching. These businesses offer the illicit opportunity to skim income or launder money, so your accounting practices must be thorough, or you could be charged...
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IRS, 5 international tax heads target cryptocurrency tax evasion
The Joint Chiefs of Global Tax Enforcement, or “J5,” represent the U.S., Canada, the United Kingdom, Australia and the Netherlands. They meet annually to work out enforcement plans for common types of tax evasion and other challenges. This year, the J5 met to discuss...
What tax mistake could get you in criminal trouble?
Failure to pay your company’s payroll taxes. Time and again, business owners and chief financial officers take liberties with payroll taxes only to end up under criminal investigation by the IRS. Moreover, you could be personally liable for the taxes. Here are a...
What are the odds of being audited by the IRS?
The odds of getting a notification from the Internal Revenue Service (IRS) of a federal tax audit are fairly low. Recent projections estimate most individual tax filers are at about a 0.4% risk. However, certain things can increase this risk. In some cases, the...
Prosecutors file ‘largest-ever tax charge’ against software tycoon
The U.S. Attorney’s Office in San Francisco has filed a $2-billion criminal tax fraud case against Houston tech tycoon Robert T. Brockman. The 39-count indictment accuses the man of using a family charitable trust based in Bermuda and other offshore accounts to...
McAfee antivirus founder arrested on tax evasion charges
"Taxation is illegal," John McAfee tweeted last year. It was part of a series of tweets about not filing income tax returns, which he claimed he was not required to do. He said he hadn’t filed any tax returns in eight years. He said his “net income is negative.” He...
Assault investigation leads to tax charges against victims
You can call it adding insult to injury, but in this case the injuries were physical. In September 2018, York County, Pennsylvania, police responded to a shooting. Four people were involved. Robert H. had apparently gotten into a physical altercation with his wife,...
Man faces tax-related charges for not reporting foreign income
Accusations of criminal activity can send a person reeling. His or her reputation is on the line, and that individual faces serious consequences that could result from a conviction. As a result, if someone is facing tax-related charges, it is important to have the...
Accusations of a tax-related crime, like fraud, can cause panic
Any type of criminal accusation can have lasting effects on a person's life. If a New York resident is accused of a tax-related crime, the situation can be immensely complicated. Unfortunately, it can be difficult to understand exactly where one went wrong when facing...
Accusations of tax fraud do not mean a person is guilty
Filing taxes is complicated for most people. Though professionals are available to help, utilizing chain services does not always guarantee that mistakes will be avoided. In serious cases, some New York residents could face accusations of tax fraud if the Internal...