Archive | December, 2014

Bank Leumi Admits to Assisting U.S. Taxpayers in Hiding Assets in Offshore Bank Accounts

December 30, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

Department of Justice, Office of Public Affairs, 12/22/14 A major Israeli international bank admitted that it conspired to aid and assist U.S. taxpayers to prepare and present false tax returns to the Internal Revenue Service (IRS) by hiding income and assets in offshore bank accounts in Israel and elsewhere around the world.  A deferred prosecution […]

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Some of the Rich Collect Art. Others Collect Passports. 

December 23, 2014  |   Posted by :   |   EB-5 Visa,International Investors   |   0 Comments

In the 12/13/14 New York Times article, Some of the Rich Collect Art, Others collect Passports, author Robert Frank confirms that along with stocks and bonds portfolios the global rich are buying a new form of economic security: “passport portfolios.” Wealthy investors from emerging markets: China, Russia, Middle East are shopping for passports in US, Europe, […]

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EB-5 Investor Green Cards

December 18, 2014  |   Posted by :   |   EB-5 Visa   |   0 Comments

I am pleased to announce that Offshore Investments, a European-based publication for high net worth investors, which is sent to 20,000 investors in 165 countries, has just published our article as the lead article in the November 2014 Edition – They’re Coming to America – EB-5 Visas for Immigrant Investors. EB-5 Investor Green Cards By Mark […]

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IRS Audit Statistics

December 16, 2014  |   Posted by :   |   IRS Tax Audits   |   0 Comments

According to the IRS Data Book (calendar year 2012, thru 9/30/12), in 2012, the IRS: 1. Processed 237.3 million federal tax returns 2. Collected $2.52 trillion in taxes 3. Issued tax refunds: $373.4 billion 4. Net tax collections: $2.15 trillion Since US government spends $3.79 trillion there was $1.27 trillion “revenue shortfall”. Largest source of IRS […]

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Holiday Greetings and Gift Idea

December 11, 2014  |   Posted by :   |   Uncategorized   |   0 Comments

Dear Friends, Clients and Colleagues, Every year I select one exquisite gift to recommend for the holidays. This year’s choice – the delicious cupcakes from Bo Nuage, LA’s most recent entry into the “cupcake phenomenon”. With the skill and artistry of their Parisian counterparts, Audrey and Pascal Achcar offer a one-of-a-kind desert. Audrey and Pascal […]

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Argentina and Belgium Accuse HSBC of Aiding Tax Evasion

December 09, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

by Pratap Chatterjee, CorpWatch.org Argentina and Belgium have separately accused HSBC bank’s Geneva branch of setting up a network of offshore accounts to help their citizens avoid paying billions of dollars in taxes. The Belgian charges were filed Monday and the Argentine charges were announced Friday. HSBC, formerly known as Hong Kong & Shanghai Corporation […]

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Credit Suisse Sentenced for Conspiracy to Help U.S. Taxpayers Hide Offshore Accounts from Internal Revenue Service

December 04, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

Washington, D.C. – Department of Justice Credit Suisse AG was sentenced today for conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the Internal Revenue Service (IRS). Credit Suisse pleaded guilty to conspiracy on May 19. The sentencing of the Swiss corporation is the result of a […]

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Criminal Tax Evasion: Collateral Estoppel

December 02, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

When criminal tax proceedings are followed by civil tax proceedings, the legal doctrine of collateral estoppel may apply. This doctrine provides that an issue necessarily decided in a previous proceeding (the first proceeding) will determine the issue in a subsequent proceeding (the second proceeding) but only as to matters in the second proceeding that were […]

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