The Internal Revenue Service released on November 14, 2018 the Criminal Investigation Division’s (CI) annual report, reflecting significant accomplishments and criminal enforcement actions taken in fiscal year 2018. "This Report Shows That As Financial Crime Has Evolved and Proliferated around the World, so Have IRS Criminal Investigation Special Agents and Their Abilities to…
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Disregarded Entities Are Not Always Disregarded
Under the check the box rules, entities owned by one person can often be disregarded for federal tax purposes. Such entities are referred to as "disregarded entities." As time has progressed since the passage of the check the box rules, the IRS has created more and more exceptions to the disregarded treatment. The following is…
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J5 Collaborate on Data Analytics Against 'Enablers'
On July 17, 2018 we posted The J5 International Tax Hunt is On! where we discussed that the tax authorities of the UK, US, Australia, Canada and Netherlands have set up a joint committee to improve international enforcement against tax crime and money laundering. The first meeting of the so-called J5 Group (Joint Chiefs of Global Tax Enforcement)…
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Former U.S. Congressman Sentenced to 10 Years in Prison for Tax Fraud and Election Crimes
According to DoJ, a former U.S. Congressman Stephen E. Stockman was sentenced on November 7, 2018 to serve 120 months in prison and ordered to pay $1,014,718.51 in restitution, to be followed by 3 years of supervised release, for orchestrating a four-year scheme to defraud charitable donors of hundreds of thousands of dollars and secretly…
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