Archive | February, 2015

U.S. Wine Exports in 2014 Second Highest on Record

February 27, 2015  |   Posted by :   |   Wine Exports   |   0 Comments

In a 2/25/15 Los Angeles Times article by David Pierson, (with statistics provided by San Francisco based California Wine Institute) it has been reported that exports of US wine in 2014 were the second most valuable on record, reaching $1.49B in revenue, with approximately 90% of US wine exports from California. The volume of wine […]

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Le Perigord Owner Pleads Guilty in Tax Case

February 26, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

By Kevin McCoy, USA Today A founder of famed New York City restaurant Le Périgord faces a potential three-year prison sentence that could take him away from the paragon of traditional French cuisine after he pleaded guilty to hiding income in offshore bank accounts. Georges Briguet, 77, admitted during a Brooklyn federal court hearing Wednesday […]

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HSBC Tax Scandal Ensnares the Rich and Powerful

February 24, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

It was another bad week for British bank, HSBC. On Wed, 2/18, Reuters reported, Swiss Prosecutor Raids HSBC Office, Opens Criminal Inquiry Geneva’s public prosecutor searched HSBC’s lakeside Swiss office on Wednesday after opening a criminal inquiry into allegations of aggravated money laundering, the second probe to hit the bank this week. Then on Sunday, […]

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U.S. Court Orders HSBC USA to Provide Details of Customers with Offshore Law Firm

February 19, 2015  |   Posted by :   |   Tax Evasion   |   0 Comments

Panama based, Sovereign Management & Legal Ltd, has been described by the IRS & US government as “a one-stop shop for money laundering with structures and services that can be used for tax evasion.” Now, HSBC USA has been ordered by a US federal court to disclose records of Sovereign customers (who used HSBC USA […]

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HSBC India at Center of Fresh Tax Evasion Claims

February 17, 2015  |   Posted by :   |   Tax Evasion   |   0 Comments

On 2/10/15 Swiss Newspapers, Tages Anzeiger and Le Temps, reported that the latest files from the “Swiss Leaks” (H. Falciani, former HSBC employee) confirmed that during 2004 and 2005 HSBC bankers had at least 1645 meetings in 25 countries with clients (or prospective clients) to solicit them to open undeclared accounts. Meetings included: Paris and […]

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The IRS and Defrauded Investors: Theft Tax Loss (2015)

February 12, 2015  |   Posted by :   |   Theft Loss   |   0 Comments

I have recently publishing my 11th e-book, currently available on Amazon, The IRS and Defrauded Investors: Theft Tax Loss (2015). The IRS tax rules are summarized as follows: US Taxpayers who lose funds due to “fraud” may declare an income tax deduction for their theft loss in the tax year they discover the theft loss. […]

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HSBC Offshore Tax Evasion

February 10, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

HSBC, the second largest bank in the world, with headquarters in London, is embroiled in offshore tax evasion allegations involving $100 billion dollars. According to the BBC News, HSBC offshore tax evasion ultimately “helped clients dodge millions in taxes” with more than 200 countries being involved in the tax evasion. On 2/18/15 the ICIJ (journalists […]

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St. Louis Man Convicted of Hiding Assets Overseas

February 05, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

In October 2014, the U.S. Dept. of Justice obtained a felony plea for one count of filing a false tax return and failure to file FBAR (report of foreign bank account) from Raju Mukhi who failed to disclose Swiss and Singapore offshore bank accounts. In January 2015, he was fined $838,439 and sentenced to 3 […]

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Tax Evasion Costing US $100 Billion a Year

February 04, 2015  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

In the 1/15/15 US Congress Report (Tax Havens: International Tax Avoidance and Evasion, Jane G. Gravelle) the new report projects $100B per year in taxes lost by US companies and US citizens shifting profits and income offshore. Although US companies may do so legally (if the company is not a controlled foreign corporation i.e. has […]

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