Source: http://www.browntax.com/blog/2015/01/
Timestamp: 2017-07-23 12:53:11
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January 2015 Archives | Fort Worth Tax Law Blog
When the IRS refuses to change its position in a refund dispute On behalf of Brown, PC posted in IRS on Friday, January 30, 2015. When a business owner is trying to keep their business financially strong and in a position to have a bright future, every little bit counts. Thus, it can be extremely frustrating for a business owner when it appears that the federal government is keeping more of the money that came from their business than it should under the tax laws. Continue reading When the IRS refuses to change its position in a refund dispute... Tags: IRS New York CEO Pleads Guilty to Hiding Millions in Swiss Accounts By Lawrence Brown of Brown, PC posted in Offshore Accounts/International Tax Disputes on Friday, January 30, 2015. The Chairman and CEO of an international pulp mill company pled guilty to concealing more than $8.4 million in secret Swiss bank accounts. The 77 year old faces a maximum of five years in prison, and he has already agreed to pay a civil FBAR penalty of $4.2 million, which represents 50% of the highest value in the foreign accounts. Continue reading New York CEO Pleads Guilty to Hiding Millions in Swiss Accounts... Tags: Offshore Accounts, tax crimes Taxpayer Advocate Criticizes IRS Offshore Compliance Efforts By Lawrence Brown of Brown, PC posted in IRS Tax Collection on Friday, January 30, 2015. In her annual report to Congress, National Taxpayer Advocate Nina Olson sharply criticized the IRS for its unfair application of FBAR penalties, as well as its treatment of innocent taxpayers who were unaware of the FBAR filing requirements. The report also recommends that the threshold for filing an FBAR, which has been set at $10,000 since 1970, be raised to $50,000. Continue reading Taxpayer Advocate Criticizes IRS Offshore Compliance Efforts... Tags: Offshore Accounts, irs Key distinction: tax avoidance vs. tax evasion, part 1 On behalf of Brown, PC posted in Tax Evasion on Wednesday, January 21, 2015. Sometimes two words seem to have similar meanings, but actually stand for very different things. Consider, for example, the words “avoidance” and “evasion.” Continue reading Key distinction: tax avoidance vs. tax evasion, part 1... Tags: Tax Evasion Fugitive Swiss Banker to Appear in US Court By Brown, PC of Brown, PC posted in Offshore Accounts/International Tax Disputes on Friday, January 16, 2015. A former client advisor at Bank Frey & Co. AG has agreed to personally appear in a United States District Court in New York to face charges that he conspired with American clients to help them evade taxes, after a federal judge denied his request to first have conditions of bail set. Stefan Buck is one of more than twenty Swiss bankers who have been indicted but are currently considered fugitives. Continue reading Fugitive Swiss Banker to Appear in US Court... Tags: Offshore Accounts, international tax evasion Voluntary reclassfication of workers: tweaks to the IRS program On behalf of Brown, PC posted in Tax Controversy on Thursday, January 15, 2015. Employers face difficult decisions regarding the hiring and classification of workers. Having to pay employment taxes for employees is only one of many factors involved in these decisions. Other factors include employee preferences (some workers actually prefer the flexibility of contractor status) and the complicated nature of the distinction between employees and contractors. Continue reading Voluntary reclassfication of workers: tweaks to the IRS program... Tags: Tax Controversy Atlanta CEO Convicted of Hiding Assets in Swiss Accounts By Brown, PC of Brown, PC posted in Offshore Accounts/International Tax Disputes on Friday, January 9, 2015. The CEO of an Atlanta internet company has pleaded guilty to one count of willfully failing to file an FBAR, related to his concealment of offshore accounts from the U.S. Treasury. As part of his plea agreement, Kaminsky has agreed to pay the IRS a civil FBAR penalty in the amount of $250,635. Continue reading Atlanta CEO Convicted of Hiding Assets in Swiss Accounts... Tags: Offshore Accounts, international tax law Prominent Swiss Banker Acquitted by South Florida Jury By Brown, PC of Brown, PC posted in Offshore Accounts/International Tax Disputes on Thursday, January 8, 2015. The acquittal of the former CEO of Global Wealth Management and Business Banking at UBS AG could affect the handling of more than twenty other cases involving Swiss "enablers," many of whom are currently fugitives. A US jury rejected charges that Raoul Weil knew UBS bankers had used deception and shell corporations to conceal accounts owned by American clients. Continue reading Prominent Swiss Banker Acquitted by South Florida Jury... Tags: Offshore Accounts, international tax law Slouching toward FATCA compliance, part 2: FFIs and withholding On behalf of Brown, PC posted in Tax Evasion on Wednesday, January 7, 2015. he Foreign Account Tax Compliance Act (FATCA) has not only made it more difficult for U.S. taxpayers to comply with the complicated reporting requirements for offshore accounts. It has also created burdensome new obligations for foreign financial institutions (FFIs) that serve U.S. taxpayers. Continue reading Slouching toward FATCA compliance, part 2: FFIs and withholding... Tags: Tax Evasion Slouching toward FATCA compliance, part 1: IGA update On behalf of Brown, PC posted in Tax Evasion on Friday, January 2, 2015. Last week, hundreds of millions of people around the world revisited the familiar story of the birth of Jesus. As the story goes, it came during a census of the Roman provinces of Judea and Syria that brought a couple named Joseph and Mary to a town called Bethlehem. Continue reading Slouching toward FATCA compliance, part 1: IGA update... Tags: Tax Evasion Print this Page
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