Archive | December, 2016

IRS Criminal Tax Cases 2016 – T. Sissom and M. Huynh

December 31, 2016  |   Posted by :   |   Tax Evasion   |   0 Comments

Troy L. Sissom Troy L. Sissom a project manager for FA Wilhelm Construction Co., whose job was to oversee construction projects stole more than $2.7m from the company by creating false invoices for project materials and sending the funds to a post office box for a company (LTEE Source) he owned and depositing them into […]

Read More »

IRS Criminal Tax Cases 2016 – S. Hyatt

December 30, 2016  |   Posted by :   |   Tax Evasion   |   0 Comments

Saul Hyatt of Weston, CT, used a Panamanian bank account to conceal over $1.5m in income from the sale of duty-free alcohol and tobacco products He plead guilty (9/16) to one count of conspiring to conceal assets and income from the IRS in an undeclared bank account in Panama held for his benefit. Hyatt allegedly […]

Read More »

IRS Criminal Tax Cases 2016 – Moses Hall

December 29, 2016  |   Posted by :   |   Tax Evasion   |   0 Comments

Moses Hall, a disbarred California attorney, was arrested in October 2016 on federal charges of running a mortgage modification scheme that defrauded more than 75 distressed homeowners in Orange County by inducing them to pay more than $1.4m for services he never provided. The October 2016 federal grand jury indictment charged Hall with a 16 […]

Read More »

IRS Criminal Tax Cases 2016 – S. Young and P. Driscoll

December 27, 2016  |   Posted by :   |   Tax Evasion   |   0 Comments

Steven H. Young Florida taxpayer Steven H. Young (St.Petersburg, FL) was sentenced 11/16 to 21 months in jail for tax evasion and ordered to pay $500k in restitution to the IRS for tax evasion (2007-2011). Young falsified expense records for his business to negate his income taxes for 2007-2011 (including taking marital tax credits when […]

Read More »

IRS Criminal Tax Cases 2016 – J. Brewer and A. Aleykina

December 23, 2016  |   Posted by :   |   Tax Evasion   |   0 Comments

James C. Brewer, an IRS Revenue Officer from Staten Island, New York (worked in Edison, NJ IRS office) falsified his personal income tax returns and failed to account for money he received from outside businesses he operated. In September, 2016 he plead guilty to 12 count each of wire fraud and filing or preparing false […]

Read More »

The IRS & Celebrity Tax Issues: Michael Jackson & Ronald Isley

December 22, 2016  |   Posted by :   |   International Tax Planning   |   0 Comments

The IRS is currently litigating with the Estate of Michael Jackson which they assert owes over $700m in tax, penalty and interest (which if upheld could potentially wipe out his estate and leave his heirs with no inheritance). At the heart of the case is the value of Jackson’s celebrity image, name and likeness (I […]

Read More »

Investment Tax Planning for US and International Investors

December 21, 2016  |   Posted by :   |   International Investors,International Tax Planning   |   0 Comments

US and International Investors who invest in the US or immigrate to the US face the same issues: 1. Worldwide US income, estate and gift tax reporting and taxes due. 2. Disclosure of foreign bank accounts (over $10k by annual FBAR filings) and disclosure of foreign financial assets over $50k (FATCA Form 8938, attached Form […]

Read More »

My Favorite Things – Happy Holidays

December 20, 2016  |   Posted by :   |   Uncategorized   |   0 Comments

Jazz great John Coltrane’s splendid version of “My Favorite Things” is my 2016 theme for the holidays. For all newsletter participants please see my website gswlaw.com, Trip Advisor Subpage. (I have become one of Trip Advisor’s top reviewers with over 18,000 readers to date). In July 2015, for my 60th birthday I went to the […]

Read More »

US Criminal Prosecution: Tax Evasion & Money Laundering

December 19, 2016  |   Posted by :   |   Tax Evasion   |   0 Comments

Tax evasion and money laundering may result in criminal prosecution by the US Department of Justice for both tax crimes and “related sister felonies”: wire fraud & mail fraud. When a taxpayer fails to pay taxes due (whether income, estate or gift taxes) and uses the “tax cheating” proceeds (which courts have ruled amount to […]

Read More »

IRS Criminal Tax Cases 2016 – Atty M. Thiel and Jreck Subs Former Owner C. Swartz

December 12, 2016  |   Posted by :   |   Tax Evasion   |   0 Comments

Attorney Michael Thiel Prominent, New Orleans Criminal Defense Attorney Michael Thiel pleaded guilty on 12/7/16 to tax evasion for failing to pay almost $1m in federal taxes. Despite earning substantial income from his law practice, Thiel failed to pay $736,527 in federal income tax, penalties and interest and $261,725 in employment tax, penalties and interest […]

Read More »