Tax Cheats with Foreign Accounts Get Caught

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If you are hiding your money in foreign bank accounts in hopes of evading taxes, you had better fess up and consider the plight of these two convicted tax dodgers who got caught.

Michael F. Schiavo, managing director of SCG Consulting Group in Boston, Mass. was charged by the IRS for not reporting an offshore bank account in his name at HSBC Holdings PLC (HSBA). Schiavo failed to file the compulsory Report on Foreign Banks and Financial Accounts form (FBAR) for his account at HSBC Bermuda.

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The Law Offices of Darrin Mish, P.A. on:

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