Fat Cats on a Hot Tin Roof

Pay up, Monopoly Men; freeloading isn’t cool. 

#bezos-jeffrey-p, #buffett-warren-e, #income-inequality, #income-tax, #infrastructure-public-works, #tax-evasion, #taxation, #wealth-taxx

0

How Private Equity Firms Avoid Taxes

The I.R.S. almost never audits private equity firms, even as whistle-blowers have filed claims alleging illegal tax avoidance.

#apollo-global-management, #bain-capital, #biden-joseph-r-jr, #blackstone-group-the, #capital-gains-tax, #carlyle-group-lp, #federal-taxes-us, #government-accountability-office, #high-net-worth-individuals, #income-inequality, #income-tax, #internal-revenue-service, #kirklandellis, #kkrco-lp, #mnuchin-steven-t, #private-equity, #rettig-charles-p, #schwarzman-stephen-a, #tax-cuts-and-jobs-act-2017, #tax-evasion, #tax-shelters, #tpg-capital, #treasury-department, #trump-donald-j, #united-states-politics-and-government, #whistle-blowers

0

Five Former Treasury Secretaries: Fund the IRS

America loses hundreds of billions of dollars to tax evasion every year. We need to give the I.R.S. the tools to combat it.

#federal-taxes-us, #income-tax, #tax-evasion, #treasury-department, #united-states-economy, #united-states-politics-and-government

0

Global Tax Deal Reached Among G7 Nations

The Group of 7 nations reached an agreement over a global minimum tax that companies would pay regardless of where they are based.

#coronavirus-2019-ncov, #corporate-taxes, #federal-taxes-us, #group-of-seven, #tax-evasion, #united-states-economy, #yellen-janet-l

0

Virginia Doctor Gets 59 Years for Unneeded Surgery and Improper Sterilizations

Dr. Javaid Perwaiz’s procedures over nearly a decade caused insurance programs to lose more than $20 million, federal prosecutors said.

#chesapeake-va, #federal-bureau-of-investigation, #frauds-and-swindling, #hospitals, #perwaiz-javaid, #pregnancy-and-childbirth, #tax-evasion

0

Trump’s ‘Fringe Benefits’ for Employees Are Under Scrutiny

The investigation into the former president has led prosecutors to subpoena records from a New York City private school.

#columbia-grammar-and-preparatory-school, #tax-evasion, #trump-organization, #trump-donald-j, #vance-cyrus-r-jr, #weisselberg-allen

0

F.E.C. Drops Case Reviewing Trump Hush-Money Payments to Women

The case had examined whether Donald Trump violated election law with a $130,000 payment shortly before the 2016 election to a pornographic-film actress by his personal lawyer, Michael Cohen.

#campaign-finance, #cohen-michael-d-1966, #federal-election-commission, #presidential-election-of-2016, #tax-evasion, #trump-donald-j, #united-states-politics-and-government

0

Biden’s $4 Trillion Economic Plan, in One Chart

Money directed at families is added to an earlier proposal on infrastructure.

#american-rescue-plan-2021, #biden-joseph-r-jr, #federal-budget-us, #federal-taxes-us, #tax-evasion, #united-states-economy

0

Samsung Family to Pay South Korea’s Largest Inheritance Tax Bill

The Samsung family in South Korea will also donate billions of dollars’ worth of art, including Picasso and Monet.

#art, #corporations, #family-business, #inheritance-and-estate-taxes, #lee-jae-yong-1968, #lee-kun-hee, #samsung-ct-corp, #samsung-electronics-co, #samsung-group, #south-korea, #tax-evasion, #wills-and-estates

0

Councilman Who Pleaded Guilty to $82,000 Tax Fraud Is Expelled

Chaim Deutsch, a Brooklyn Democrat, was removed for violating his oath of office, officials said.

#city-council-nyc, #city-councils, #deutsch-chaim-1969, #politics-and-government, #tax-evasion

0

Justice Dept. Asked to Examine Whether Swiss Bank Kept Helping Tax Dodgers

Credit Suisse had admitted to helping American clients evade taxes in 2014 and was fined $2.6 billion, but it avoided even higher fines because of its vow that it had stopped the practice.

#banking-and-financial-institutions, #credit-suisse-group-ag, #federal-taxes-us, #garland-merrick-b, #internal-revenue-service, #justice-department, #senate-committee-on-finance, #switzerland, #tax-evasion, #united-states-politics-and-government, #wyden-ron

0

Biden Seeks $80 Billion to Beef Up I.R.S. Audits of High-Earners

The president’s “American Families Plan,” which he will detail this week, will be offset in part by a tax enforcement effort that administration officials believe will raise $700 billion over a decade.

#biden-joseph-r-jr, #corporate-taxes, #federal-budget-us, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #tax-evasion, #tax-shelters, #united-states-economy, #united-states-politics-and-government

0

Councilman Pleads Guilty to $82,000 Tax Fraud. He Has No Plans to Quit.

Chaim Deutsch, a city councilman from Brooklyn, falsely deducted business expenses, according to federal prosecutors.

#city-council-nyc, #deutsch-chaim-1969, #federal-taxes-us, #frauds-and-swindling, #new-york-city, #politics-and-government, #tax-evasion

0

An Accidental Disclosure Exposes a $1 Billion Tax Fight With Bristol Myers

The I.R.S. believes the American drugmaker used an abusive offshore scheme to avoid federal taxes.

#accounting-and-accountants, #bristol-myers-squibb-company, #corporate-taxes, #federal-taxes-us, #internal-revenue-service, #legal-profession, #pricewaterhousecoopers, #tax-evasion, #tax-shelters, #whitecase

0

How to Collect $1.4 Trillion in Unpaid Taxes

Wealthy Americans are concealing large amounts of income from the I.R.S. There is a straightforward corrective.

#federal-taxes-us, #income-inequality, #income-tax, #internal-revenue-service, #tax-evasion

0

Whistle-Blower Says Credit Suisse Helped Clients Skip Taxes After Promising to Stop

A former bank employee contends that the Swiss bank continued to help American clients avoid taxes long after its 2014 plea deal with the U.S. government

#boente-dana-j, #cole-james-m, #credit-suisse-group-ag, #dougan-brady-w, #federal-taxes-us, #high-net-worth-individuals, #internal-revenue-service, #justice-department, #tax-evasion, #tax-shelters, #united-states-politics-and-government, #whistle-blowers, #wray-christopher-a

0

How Biden Funds His Next Bill: Shrink the $7.5 Trillion Tax Gap

The I.R.S. is often unable to detect or fight blatant tax cheating by the rich and big businesses. Restoring it is a solution that pays for itself.

#federal-budget-us, #tax-evasion, #united-states-politics-and-government

0

There’s a Way Biden Can Raise More From the Rich Without Higher Taxes

Increased spending to enforce the existing tax code would pay for itself and then some.

#biden-joseph-r-jr, #income-tax, #internal-revenue-service, #tax-credits-deductions-and-exemptions, #tax-evasion, #tax-shelters, #trump-donald-j

0

Carnegie Hall Stands By Its Chairman, Despite Tax Violations

Robert F. Smith has acknowledged his involvement in a 15-year scheme to hide more than $200 million in income and evade taxes, but he retains the support of the hall’s board.

#austin-tex, #carnegie-hall, #culture-arts, #historic-buildings-and-sites, #philanthropy, #smith-robert-f-1962, #tax-evasion

0

Trump Tax Write-Offs Are Ensnared in 2 New York Fraud Investigations

Inquiries into the president and his businesses, one criminal and one civil, are now looking at tax deductions taken on consulting fees. Some of the payments appear to have gone to Ivanka Trump.

#clifford-stephanie-1979, #cohen-michael-d-1966, #income-tax, #internal-revenue-service, #james-letitia, #tax-evasion, #trump-organization, #trump-tax-returns, #trump-donald-j, #trump-donald-j-foundation, #trump-eric-f-1984, #trump-ivanka, #vance-cyrus-r-jr

0

As Soon as Trump Leaves Office, He Faces Greater Risk of Prosecution

The president is more vulnerable than ever to an investigation into his business practices and taxes.

#federal-taxes-us, #frauds-and-swindling, #income-tax, #james-letitia, #manhattan-nyc, #presidential-election-of-2020, #tax-evasion, #taxation, #trump-organization, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government, #vance-cyrus-r-jr

0

What Berlusconi Could Teach Trump About Losing

Two icons of disruptive political leadership have much in common … except for acknowledging gracefully when they’ve been voted out.

#berlusconi-silvio, #biden-joseph-r-jr, #brothers-of-italy-italian-political-party, #cheating, #coronavirus-2019-ncov, #europe, #forza-italia, #italy, #league-italian-political-party, #meloni-giorgia-1977, #milan-italy, #morocco, #politics-and-government, #polls-and-public-opinion, #presidential-election-of-2020, #salvini-matteo, #sardinia-italy, #tax-evasion, #trump-tax-returns, #trump-donald-j, #uefa-champions-league-soccer, #voting-and-voters

0

Tax Officials Investigate Euro Pacific Bank in Puerto Rico

Tax enforcers from five nations are investigating Euro Pacific Bank, which operates in a U.S. territory criticized in the past for its lax financial regulation.

#banking-and-financial-institutions, #corporate-taxes, #euro-pacific-intl-bank-inc, #federal-taxes-us, #money-laundering, #peter-schiff, #puerto-rico, #tax-evasion, #tax-shelters

0

U.S. Brings ‘Largest Ever Tax Charge’ Against Tech Executive

Federal prosecutors said Robert T. Brockman had used a web of entities based in Bermuda and Nevis, as well as secret bank accounts in Bermuda and Switzerland, to hide $2 billion in income from the I.R.S.

#brockman-robert-t, #federal-taxes-us, #internal-revenue-service, #smith-robert-f-1962, #tax-evasion, #tax-shelters, #vista-equity-partners

0

Who’s the Tax Cheat: The Lady in Jail or the Man in the White House?

Donald Trump knows that taxes are for the poor.

#cheating, #federal-taxes-us, #high-net-worth-individuals, #humphreys-county-miss, #income-tax, #internal-revenue-service, #tax-credits-deductions-and-exemptions, #tax-evasion, #trump-donald-j, #united-states-politics-and-government

0

Manhattan D.A. Can Obtain Trump’s Tax Returns, Judges Rule

The dispute will now likely head to the Supreme Court for a second time.

#appeals-courts-us, #decisions-and-verdicts, #federal-taxes-us, #income-tax, #katzmann-robert-a, #leval-pierre-n, #lohier-raymond-joseph-jr, #mazars-usa, #supreme-court-us, #tax-evasion, #trump-tax-returns, #trump-donald-j, #vance-cyrus-r-jr

0

John McAfee Arrested in Spain, and U.S. Seeks Extradition

The U.S. authorities accused the former antivirus impresario of evading taxes and said his extradition to American soil was pending.

#fugitives, #john-mcafee, #justice-department, #mcafee-inc, #spain, #tax-evasion, #united-states

0

John McAfee arrested after DOJ indicts crypto millionaire for tax evasion

Cybersecurity entrepreneur and crypto personality John McAfee’s wild ride could be coming to an end after he was arrested in Spain today, now facing extradition to the US over charges spanning tax evasion and fraud.

The SEC accuses McAfee of being paid more than $23.1 million worth of cryptocurrency assets for promoting a number of ICO token sales without disclosing that he was being paid to do so. Furthermore the DOJ has levied a number of counts of tax evasion against McAfee, saying that he “willfully attempted to evade” payment of income taxes owed to the federal government.

In a brief announcing the arrest and unsealing of indictment documents, the DOJ also details that the charges are confined to McAfee the individual and that they did not find any connection with the “anti-virus company bearing his name.”

The DOJ’s charges against McAfee are a bit dry but detail 10 counts against the entrepreneur. McAfee faced 5 counts of tax evasion, which each carry a maximum penalty of 5 years in prison, as well as 5 counts of “willful failure to file a tax return,” each carrying a maximum penalty of 1 year in prison.

The SEC filing is a much more interesting read, with 55 pages detailing a lengthy investigation into McAfee’s alleged fraudulent activity promoting a number of ICOs throughout 2017 and 2018. The report specifically notes that McAfee allegedly received more than $11.6 million worth of BTC and ETH tokens worth for promoting seven ICOs. Unfortunately, those offerings were not named in the suit. He additionally received $11.5 million worth of the promoted tokens, the suit alleges.

We have reached out to John McAfee for comment.

#articles, #cryptocurrency, #cryptography, #doj, #entrepreneur, #federal-government, #initial-coin-offering, #john-mcafee, #mcafee, #spain, #tax-evasion, #tc, #u-s-securities-and-exchange-commission, #united-states

0

The I.R.S. Is Outgunned

The agency doesn’t have the resources to battle the tax lawyers of the ultrarich. Trump’s returns are just one example of how little the wealthy pay.

#corporate-taxes, #corporations, #federal-taxes-us, #income-inequality, #internal-revenue-service, #tax-evasion, #trump-tax-returns, #united-states, #united-states-politics-and-government

0

Does Donald Trump Need a Bailout?

Maybe that’s why he sucks up to Putin.

#disloyal-a-memoir-the-true-story-of-the-former-personal-attorney-to-president-donald-j-trump-book, #federal-taxes-us, #florida, #internal-revenue-service, #putin-vladimir-v, #rage-book, #tax-evasion, #trump-tower-manhattan-ny, #trump-donald-j, #united-states, #united-states-international-relations, #united-states-politics-and-government

0

The Picture of a Broken Tax System

Donald Trump’s tax returns illustrate the profound inequities of the tax code and the shambolic state of federal enforcement.

#federal-taxes-us, #income-tax, #internal-revenue-service, #tax-evasion, #taxation, #trump-donald-j

0

What We Learned from Trump Tax Report: $750, Huge Losses and More

A Times report unravels much of the mystery: This is your morning tip sheet.

#federal-taxes-us, #presidential-election-of-2020, #tax-evasion, #trump-tax-returns, #trump-donald-j

0

Trump Says D.A. Is Using ‘Speculation and Innuendo’ to Get His Tax Returns

Prosecutors have suggested in court papers that an investigation into the president could focus on a range of possible crimes.

#appeals-courts-us, #decisions-and-verdicts, #immunity-from-prosecution, #manhattan-nyc, #marrero-victor, #mazars-usa, #presidential-election-of-2020, #supreme-court-us, #tax-evasion, #taxation, #trump-organization, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government, #vance-cyrus-r-jr

0

N.Y.S. A.G. Investigates Whether Trump Organization Improperly Inflated Property Values

The New York State attorney general is investigating whether the president and the Trump Organization improperly inflated the value of his holdings.

#appraisals-and-valuation-property, #cohen-michael-d-1966, #deutsche-bank-ag, #frauds-and-swindling, #james-letitia, #morgan-lewisbockius, #real-estate-commercial, #tax-evasion, #trump-organization, #trump-donald-j, #trump-eric-f-1984, #vance-cyrus-r-jr

0

Derek Chauvin Charged With Multiple Tax-Related Felonies in Minnesota

The former Minneapolis police officer and his wife were charged with filing fraudulent tax returns from 2014 through 2019.

#chauvin-derek-1976, #chauvin-kellie, #floyd-george-d-2020, #income-tax, #minnesota, #police-department-minneapolis-minn, #tax-evasion

0

Should We Even Care About Trump’s Taxes?

Finally, eventually, the president’s tax returns might be made public. Does it even matter anymore?

#debatable, #federal-taxes-us, #inheritance-and-estate-taxes, #tax-evasion, #taxation, #trump-donald-j, #trump-fred-c

0

Trump on Releasing His Tax Returns: From ‘Absolutely’ to ‘Political Prosecution’

The Supreme Court’s decision adds another twist in a yearslong debate over whether the president should release his tax returns.

#federal-taxes-us, #income-tax, #internal-revenue-service, #presidential-election-of-2016, #supreme-court-us, #tax-evasion, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

0

Arkansas Professor Is Accused of Hiding Chinese Funding

The case was the latest example of the Justice Department’s efforts to combat Chinese influence on American campuses.

#atlanta-ga, #china, #chinese-academy-of-sciences, #colleges-and-universities, #emory-university, #espionage-and-intelligence-services, #fayetteville-ark, #federal-bureau-of-investigation, #justice-department, #national-aeronautics-and-space-administration, #national-institutes-of-health, #research, #tax-evasion, #united-states-politics-and-government, #university-of-arkansas

0

Samsung Heir Apologizes for Corruption and Union-Busting Scandals

Lee Jae-yong said he would be the last of his family members to lead the South Korean corporate empire.

#bribery-and-kickbacks, #decisions-and-verdicts, #ethics-and-official-misconduct, #lee-jae-yong-1968, #organized-labor, #samsung-electronics-co, #samsung-group, #south-korea, #tax-evasion

0

Your 8 Most Vexing Tax Questions, Answered

Changing rules have led to taxpayer confusion. We asked accountants and other specialists to help sort it all out.

#accounting-and-accountants, #federal-taxes-us, #income, #income-tax, #mortgages, #pensions-and-retirement-plans, #personal-finances, #real-estate-and-housing-residential, #rebates-and-refunds, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-evasion, #tax-preparers-and-preparation

0