On March 28, the U.S. Justice Department sought to close a nationwide chain of income tax preparation shops it accuses of fraud. The action underscores the potential for abusive business practices that taxpayers face because Congress has failed to embrace technology that would eliminate most tax returns. COLUMN-How to end tax fraud: David Cay Johnstonreuters.com…
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About: Ronald Marini
Recent Posts by Ronald Marini
Lawsuits test UBS advice on offshore bank accounts
* US clients allege Swiss bank failed to advise properly * Lawsuits charge asset bankers have legal obligation to clients The case of a wealthy U.S. businessman who pleaded guilty to evading taxes but then sued the Swiss bank where he hid his money is scheduled to go to trial on May 8, the first…
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Sixth Circuit Affirms Conviction for Failure to File
U.S. v. MAGA UNITED STATES OF AMERICA, PLAINTIFF-APPELLEE, v. DOMINIC JOSEPH MAGA, DEFENDANT-APPELLANT. No. 10-4008. United States Court of Appeals, Sixth Circuit. Filed April 4, 2012. Before: COOK, WHITE, and DONALD, Circuit Judges Defendant-appellant Dominic Joseph Maga appeals a jury verdict finding him guilty of failing to file income tax returns. He contends that the…
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IRS Launching Second Wave of Investigations of Banks and Intermediaries
The Internal Revenue Service is launching a second wave of investigations on banks, bankers, intermediaries, and taxpayers as it continues to mine information it receives on offshore assets through its voluntary disclosure program, IRS Commissioner Douglas Shulman said April 5. “We have fundamentally changed the risk calculus of taxpayers who are thinking about hiding their…
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