Archive | August, 2015

Asset Recovery 2015: Trends

August 29, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

WhosWhoLegal.com For this fourth edition, and with the benefit of years of research and thousands of votes from clients and private practitioners, Who’s Who Legal takes a closer look at developing trends in the global asset recovery market. According to our sources the variety of litigation in this sphere has expanded in the past 12 […]

Read More »

15 Athletes Gone Bankrupt

August 27, 2015  |   Posted by :   |   Asset Protection   |   0 Comments

From TheRichest.com In 2008, the NBA Players’ Association claimed that 60 percent of pro basketball players go broke within five years of retirement. It’s not hard to see why. In the annals of “easy come, easy go,” few people see it come and go like professional athletes. While it’s true that many take their salaries […]

Read More »

Tax Evasion and Money Laundering – Part 3

August 20, 2015  |   Posted by :   |   Tax Evasion   |   0 Comments

In the Pasquantino case, (96 AFTR 2d 2005-5392 (2005), the U.S. Supreme Court determined that a foreign government has a valuable property right in collecting taxes and that right may be enforced in a U.S. court of law. Under the CRS Report for Congress, Money Laundering: An abridged overview of 18 U.S.C. Sec.1956 and Related […]

Read More »

International Tax Evasion and Money Laundering – Part 2 – Tax Counsel

August 18, 2015  |   Posted by :   |   Tax Evasion   |   0 Comments

A U.S. taxpayer’s failure to comply with U.S. tax law may implicate tax counsel in tax evasion. The IRS or the U.S. Dept. of Justice may allege that tax counsel aided and abetted the client in evading U.S. tax, if tax counsel: 1. Aided and assisted the U.S. taxpayer in the submission of materially false […]

Read More »

The IRS: International Tax Evasion and Money Laundering – Part 1

August 13, 2015  |   Posted by :   |   Tax Evasion   |   1 Comment

International tax and estate planning may lead to tax evasion (and additional crimes: money laundering, mail fraud, wire fraud) if the U.S. taxpayer either fails to pay tax due to federal, state or foreign governments. The U.S. taxpayer may be culpable for violation of U.S. wire fraud laws, money laundering laws or mail fraud laws, […]

Read More »

Revenues surge as global crackdown on tax evasion gathers pace

August 11, 2015  |   Posted by :   |   OVDP,Tax Evasion   |   0 Comments

As stated in the article below, $10 trillion is still being hidden in offshore financial centers. Only a fraction of these tax cheats have come forward to declare their assets (despite the claims in the article). In the US less than 50,000 taxpayers have disclosed their offshore accounts under the IRS Offshore Voluntary Disclosure Program […]

Read More »

IRS Offshore Account Penalties Go Up, More Banks Listed

August 06, 2015  |   Posted by :   |   FATCA/FBAR,Tax Evasion   |   0 Comments

IRS Offshore Account Penalties Go Up, More Banks Listed by Robert W. Wood, Forbes.com Since July 1, eleven more Swiss banks have entered deferred prosecution agreements with the U.S. government. The subject is tax evasion involving American account holders. Today, banks everywhere want to know if you are compliant with the IRS. Under FATCA, the […]

Read More »

Woe The Weak-Willed Celebrity

August 04, 2015  |   Posted by :   |   International Tax Planning   |   0 Comments

By Anthony Greco, Private Wealth, fa-mag.com I am pleased to announce I have been interviewed by Financial Advisor Magazine on Celebrity Estates Tax Issues. Excerpt- Failure to properly value a celebrity’s image and likeness and to plan for who will be the beneficiary of any related earnings after death, opens the door to the tax […]

Read More »