News & Analysis as of

Tax Fraud

You are Contacted by an IRS Criminal Investigator: What Do You Do? Defending an IRS Criminal Investigation (Part 11)

by McNair Law Firm, P.A. on

The IRS investigates criminal violations of federal tax laws, including tax evasion, tax fraud, and not filing tax returns. Many people do not realize that simply not filing a tax return when it is due is a crime under...more

Second Circuit Finds Death Extinguishes Trial Convictions and Related Restitution Order – But Tax Offenses and Bail Forfeiture...

In 2010, a federal jury in the Eastern District of New York convicted body-armor tycoon David H. Brooks of multiple counts of conspiracy, insider trading, fraud, and obstruction of justice for his role in a $200 million...more

Equifax Breach: What Can the Hackers Do with Your Information and How Can You Protect Yourself?

by Bowditch & Dewey on

The Equifax breach is not the biggest in terms of the number of people affected (the 2016 Yahoo breach compromised data associated with over 500 million user accounts compared to the 143 million people affected by the Equifax...more

Give Your Customers the Gift of Security

by Perkins Coie on

2017 has reminded us that data security threats continue to evolve and that the stakes for companies can be very high if their data security programs fail to evolve as well. Before the recent announcement of Equifax’s...more

FTC Settles GLBA Enforcement Action Against TaxSlayer Stemming From 2015 Data Breach

by Ballard Spahr LLP on

The Federal Trade Commission (FTC) this week announced a consent order with TaxSlayer, LLC, an online tax preparation services provider, to settle claims that the company violated the Gramm-Leach-Bliley Act (GLBA) Safeguards...more

Business, Partnership and Estate and Trust Tax Returns and Identity Theft

by Pessin Katz Law, P.A. on

In Fact Sheet 2017-10 issued by the Internal Revenue Service (“IRS”) on July 25, 2017, “Information on Identity Theft for Business, Partnerships and Estate and Trusts”, the IRS points out that business, partnerships and...more

Kansas Judge Rejects Discovery From Putative Class Members

by Carlton Fields on

A magistrate judge in Kansas denied the defendant’s request to conduct discovery of putative class members via a voluntary questionnaire. Plaintiff Hapka filed a class action against home health care provider CareCentrix...more

IRS Warns Of Resurgence Of W-2 Email Scams

by Fox Rothschild LLP on

The Internal Revenue Service has issued a renewed warning for tax professionals and businesses to beware of a recent increase in email scams targeting employee Forms W-2. According to the IRS, the W-2 scam – called business...more

IRS and States Crack Down on POS Systems: Zapper Software

by Bowditch & Dewey on

A good point of sale (“POS”) system is critical for any business engaged in sales to the public and having one in place goes a long way to ensuring that revenue and profits are being reported properly to federal, state and...more

DOJ’s Prosecution Of Health Care Exec Illustrates Unique Intersection Of Securities & Employment Tax Fraud Schemes

by Fox Rothschild LLP on

In a recent criminal prosecution of a medical doctor/entrepreneur for defrauding his company’s shareholders, the government employed a novel theory of securities fraud premised, in part, upon the defendant’s failure to pay...more

Stolen Tax Returns? Virginia Seeks a Solution.

Did someone steal your tax return? You are not alone. Indeed, the rise in tax-related identity theft has been well documented. In 2015, the FTC reported a 50% increase in identity theft complaints. A primary cause for...more

The Complete Saga of Former U.S. Tax Court Judge Diane L. Kroupa is Now Finally Concluded

by Garvey Schubert Barer on

As reported in my April 7, 2016, October 3, 2016 and October 27, 2016 blog posts, former U.S. Tax Court Judge Diane L. Kroupa and her then husband, Robert E. Fackler, were indicted on charges of tax fraud. Specifically, they...more

European Court of Justice Upholds Use of Evidence from Noncompetition Authority

by Jones Day on

The European Court of Justice ("CoJ") has upheld the European Commission's use of evidence transmitted by a national authority other than a Member State competition authority in a cartel investigation. The CoJ ruled on April...more

Forfeiture Case Based on Alleged Elaborate $230 Million Russian Laundering and Fraud Scheme to Settle

by Ballard Spahr LLP on

On the eve of trial this past Friday, the government announced an agreement to settle, subject to court approval, a major civil forfeiture action in the Southern District of New York. In the case, United States v. Prevezon...more

MoFo New York Tax Insights - Volume 8, Issue 5

by Morrison & Foerster LLP on

Final 2017-18 New York State Budget Bill Enacted - The New York State Budget Bill was enacted by the New York State Legislature and signed into law by Governor Andrew M. Cuomo. S. 2009-C, A. 3009-C. Among the Governor’s...more

Not a Trade Secret

by Pessin Katz Law, P.A. on

In U.S. v Jennifer Salgado & Jenny’s Tax Service, (No. 1:16-CV-03186-SMJ, Mar. 24, 2017) the U.S. District Court for the Eastern District of Washington (the “Court”) held that a taxpayer’s client list and client identifying...more

Colombia criminalizes Tax Evasion

by Foodman CPAs & Advisors on

On 12/29/2016, Colombia’s Congress approved “Law 1819 of 2016”. The new legislation is a structural tax reform primarily aimed at increasing revenues for Colombia. Colombia suffered a loss of revenues when crude oil...more

IRS to Notify 100,000 Taxpayers That Their Information May Have Been Obtained Through Misuse of FAFSA Retrieval Tool

On Thursday, Internal Revenue Service (“IRS”) Commissioner John Koskinen testified that the personal data of up to a 100,000 taxpayers could have been compromised as a result of criminal use of the Free Application for...more

IRS is Hacked, Again!

The New York Times reported yesterday that identity thieves may have compromised up to 100,000 U.S. taxpayer accounts. The criminals apparently took advantage of a software tool that loaded information from tax returns onto...more

As Tax Day Approaches, Justice Department and IRS Turn Up Heat on Potential Tax Cheats

by Fox Rothschild LLP on

With less than two weeks until the April 18 deadline for filing individual federal income tax returns, the Justice Department and Internal Revenue Service are issuing stern warnings to potential tax cheats. Today the U.S....more

FAFSA Data Retrieval Tool Remains Down Over Security Concerns

Last week, the Internal Revenue Service (IRS) and Federal Student Aid (FSA) announced that the Data Retrieval Tool (DRT) on fafsa.gov and StudentLoans.gov will be unavailable until extra security protections could be added....more

IRS Warns Employers of Dangerous Email Scam

by Snell & Wilmer on

The IRS has recently warned employers of another scam targeting employee information. The IRS has learned that scammers are posing as internal executives and are requesting Forms W-2 and Social Security Numbers from payroll...more

Is your Tax Preparer qualified to do your Return? Beware of Tax Preparers without a Preparer Tax Identification Number (PTIN) or...

by Foodman CPAs & Advisors on

Do you think that you have hired the right Tax Preparer to prepare your Taxes? Tax Season is here and many Tax Preparers portray themselves as “Qualified”. Tax Preparers have different levels of skills, education and...more

Treasury Inspector General Slams IRS for Lack of Strategy Following 2015 Data Breach

In a scathing report published on March 27, 2017, the Treasury Inspector General for Tax Administration blasted the Internal Revenue Service (IRS) following its analysis of the IRS’ steps following a data breach in 2015 that...more

February 2017: Client Alert

by Moskowitz LLP on

Tax Calendar - February 28 - Payers must file informational returns with the IRS. (Except certain Forms 1099-MISC with non-employee compensation payments in box 7, which are due before February 1. Excluding...more

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