The Court of Federal Claims, granted summary judgment in IRS' favor earlier this year, determining that a taxpayer's failure to file a Report of Foreign Bank and Foreign Accounts (FBAR or FinCEN Form 114 was willful and upheld IRS's imposition of a $697, 229 penalty, i.e., an amount greater than the $100,000 maximum set out in regs…
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Painter Who White Washes Tax Liability Pleads Guilty to Tax Evasion
According to DoJ, a Long Island, New York, business owner pleaded guilty today to tax evasion. According to documents filed with the court, Warren J. Krotz, 62, of Huntington, New York, owned and operated W. Krotz Enterprises Inc. (WKEI), a professional painting business that provided services throughout Long Island. Krotz admitted to evading both his…
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Michael Avenatti Charged Stealing From Clients & Avenatti Charged With Tax Evasion -Pleads Not Guilty
According to Law360, Federal prosecutors in Los Angeles announced a 36-count indictment against attorney Michael Avenatti on April 11, 2019. The U.S. Attorney’s Office for the Central District of California announced the indictment charging Avenatti with embezzling millions from five separate clients, tax evasion and obstruction, bank fraud and bankruptcy fraud. I intend to fully…
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The new program requiring the Internal Revenue Service to hire private debt collection agencies is falling far short of its goals and putting taxpayers at risk of falling prey to scammers, according to a new government report. The report, from the Government Accountability Office, found that the IRS's private collectors recovered less than 2 percent…
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