According to the DoJ a federal grand jury sitting in Houston, Texas returned an indictment on September 20, 2018 charging a Houston attorney with one count of conspiracy to defraud the United States and three counts of tax evasion. According to the indictment, Jack Stephen Pursley, also known as Steve Pursley, conspired with another individual to…
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Treasury Considering Eliminating Obama-Era Debt-Equity Documentation Rules
October 6, 2017 we posted Treasury to Currently Eliminate 8 Tax Regulations Including Discounting Restrictions on Family Business Transfers where we discussed that the U.S. Department of the Treasury posted on October 4, 2017 that it would amend or completely do away with 8 tax regulations issued under the Obama administration, including rules regarding corporate debt and transfers…
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Preview of New Tax Transcript Starting on 9/23!
August 23, 2018 we posted IRS to Introduce New Tax Transcript as of 9/23/18! where we discussed that in August 22, 2018, the IRS announced in IR-2018-171 that it is moving to better protect taxpayer data, in a new format for individual tax transcripts that will redact personally identifiable information from the Form 1040 series. On September…
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First FATCA Violation Conviction With Bank Executive's Plea Deal
The former head business officer and CEO of offshore Loyal Bank Ltd. admitted to setting up multiple opaque bank accounts for a purported stock fraudster in order to evade detection by U.S. authorities in violation of the Foreign Account Tax Compliance Act, the first conviction of its kind. Adrian Baron 63, who was extradited from Hungary…
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