Archive | March, 2014

IRS Audits Update – Fiscal Year 2012

March 28, 2014  |   Posted by :   |   IRS Tax Audits   |   0 Comments

The IRS 2012 Fiscal Year Performance Results (10/1/11 – 9/30/12, updated 12/31/13) confirm the IRS increased audits by more than 12%. 1. Total IRS Audits (FY 2012): 18,654,923 2. Total Additional Tax Assessed from Audits in FY 2012: $38,699,308,000 Please see IRS Data Book C Pub 55B, issued March, 2013.

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India, U.S. to intensify cooperation in tax evasion cases

March 25, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

TheHindu.com India and the United States have decided to enhance cooperation for automatic exchange of information on tax evasion and detection of financial crimes, shoring up efforts to crackdown on blackmoney cases involving economic channels of the two countries. A team of the US Treasury officials recently met Indian Income Tax and CBDT officials for […]

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Chinese Immigration Agent Concerned About Due Diligence and EB-5 Projects

March 20, 2014  |   Posted by :   |   EB-5 Visa,International Investors   |   0 Comments

The Canadian Federal government announced in their February 2014 budget speech, the abrupt termination of their Immigrant Investor Program. The government cited “limited economic benefit” and fraud among the reasons for the termination. The program was relatively risk-free as immigrants were only required to prove a net worth of $1.6 million, and a willingness to […]

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Ex-Swiss banker’s guilty plea could spell more trouble for his customers and Credit Suisse

March 18, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

By Matt Zapotosky, Washingtonpost.com A former Swiss banker who once worked at a subsidiary of the beleaguered Credit Suisse financial institution pleaded guilty Wednesday to helping U.S. residents hide their money from tax collectors in offshore accounts. Andreas Bachmann is the first of eight Swiss bank officials – most of them connected to Credit Suisse […]

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GAO Report: Where Offshore Tax Evaders Live And Bank

March 11, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

by Ashlea Ebeling, Forbes.com Congress is on a roll, trying to track down hidden offshore accounts, and the latest news is a report that shows which states have the most taxpayers disclosing such accounts (California is No. 1), and where they are located (Switzerland is tops). All told, taxpayers in at least 45 states and […]

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Tax Planning for US and State Exports: IC-DISC

March 07, 2014  |   Posted by :   |   IC-DISC   |   0 Comments

I am pleased to announce our latest Ebook, “Tax Planning for US and State Exports: IC-DISC,” has been published by BG Digital Publishing and is now available for immediate download at the Amazon Kindle store. U.S. exports to the world topped $2.3 trillion in 2013, according to the Department of Commerce, the fourth consecutive year […]

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EB-5 Investors & the Perils of U.S. Estate and Gift Taxes

March 02, 2014  |   Posted by :   |   EB-5 Visa,International Investors   |   0 Comments

I recently published an article with my colleague Mark Ivener in the Winter/2014 Edition of EB5 Investors Magazine. Please see article below. EB-5 Investors & the Perils of U.S. Estate and Gift Taxes

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