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Nevada Businessman Sentenced to Nine Years in Prison

Multiple outlets are reporting that on October 15, 2013, William Reed, a Nevada businessman, was sentenced to nine years in federal prison after pleading guilty to conspiracy to defraud the United States, tax evasion, and...more

White Collar Watch - September 2013

Contents - FDIC filing more suits against officers and directors of failed financial institutions - Third Circuit upholds 12-year prison sentence for former BigLaw associate - Health care executives...more

Focus - Spring 2013

In This Issue: - IRS Audits: Understanding Criminal Rights and Risks - Amazing Clients®: Ravago: A Big Company with a Low Profile - When is a Mom not a Mom?: De Facto Parenting in Massachusetts - Can the...more

Avoiding “Responsible Person” Liability For Payroll and Sales Taxes

One benefit of conducting business through a corporation, limited liability company or other limited liability entity is the “shield” from personal liability that these entities generally afford stockholders, directors and...more

White Collar Watch - January 2013

In This Issue: - Death and Taxes? Recent Supreme Court Arguments in Gabelli v. SEC Concerning a General Statute of Limitations for Civil Fines May Also Affect How Long the IRS Has to Assess Penalties - Avoiding...more

Officers of New York Environmental Services Company Plead Not Guilty to Conspiracy and Tax Fraud Charges

On March 28, 2012, six officers of a New York-based environmental services company pleaded not guilty to charges that they conspired to defraud the Internal Revenue Service (“IRS”). The case is United States v. Deluca et...more

Corporate Ownership Disclosure Again In The Crosshairs

Nevada Secretary of State Announces Task Force Last month, Nevada Secretary of State Ross Miller announced the formation of a task force to investigate registered Nevada business entities that are suspected of being...more

Legislative Changes Affecting Business Entities

The 82nd Texas Legislative Session and the Special Session convened during June of 2011 did not generate any new material Texas taxes. There are, however, several important administrative and timing provisions1 that business...more

FBAR Filing Deadline for Extensions for Certain Individuals With Signature Authority

The Financial Crimes Enforcement Network and the Internal Revenue Service recently issued three notices, FinCEN Notices 2011-1 and 2011-2 and IRS Notice 2011-54, granting an extension of the filing deadline for the Report of...more

CREW Calls for IRS and FEC Investigation

Citizens for Responsibility and Ethics in Washington (CREW) called on the IRS and Federal Election Commission (FEC) to investigate the Commission on Hope, Growth and Opportunity (CHGO) on alleged violation of tax and campaign...more

Now that VCI 2 is Enacted – What to Expect

Last week we described a new Voluntary Compliance Initiative (VCI 2) that the legislature passed as a part of Senate Bill 86, and we informed our clients and friends that we expected Gov. Jerry Brown to approve the measure...more

Director's Liability

Insolvancy Related iability of Director's Under Indian Companies Act 1956

A company is legally separate and distinct from its members. It is ultimately an artificial creation and it acts through its servants or agents. The decisions of a majority of its members in general meetings are regarded as...more

Unfiled FBAR, Watch out for State Tax Attacks

The Case of U.S. v. Vogliano filed in the United States District Court for the Southern District of New York is another in a long string of UBS related indictments. The story has a common pattern of shell corporations used to...more

Newsletter Spanish Law updates by Busquets Abogados

Brief report os some Spanish Law updates December 2010 (civil law, commercial law, tax law and accounting)....more

Conrad Black Fined $71 million by IRS

Former newspaper mogul Lord Conrad Black has been fined $71 million in back taxes, penalties and interest charges by the IRS after his conviction on fraud charges. Black is currently serving a 6 ½ year prison sentence in a...more

Myrtle Beach Political Campaign under FBI, IRS Investigation

The FBI and IRS have begun investigations into campaign contributions amounting to $239,500 for political action committees and area politicians including gubernatorial candidate Gresham Barrett and members of the Myrtle...more

IRS Audit may result in Probe on Chavez Operations

An IRS audit that detailed irregularities in the operations of the Cesar Chavez Network could result in a criminal probe. The audit, which was released last month, highlighted the exorbitant salaries of the leaders of Cesar...more

Tips to Prevent and Mitigate Fraud in the Family Office

Lawyers often have expressed or implied fiduciary oversight responsibilities in connection with the "family office" of wealthy individuals, families and private foundations. The term "family office" is commonly used to refer...more

Criteria For Disclosure Of Swiss Accounts Announced: Now That The Offshore IRS Voluntary Disclosure Has Ended, What's A Taxpayer...

The U.S. Department of Justice recently revealed the criteria for disclosure of account information made in the August 19, 2009, U.S.-Swiss Treaty Request, under the U.S.-Swiss tax treaty. This disclosure comes on the heels...more

DOJ loses thirteen KPMG tax indictments through prosecutorial misconduct

The U.S. Department of Justice took another ethical black eye yesterday, this time from the 2nd Circuit Court of Appeals in Manhattan. The court held — in a widely watched KPMG tax fraud case — that DOJ attorneys illegally...more

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