by Brian Mahany
It’s a rainy day in Macau, a former Portuguese island colony off the coast of China. My work as an asset protection and asset (fraud) recovery lawyer frequently takes me to interesting spots in the world. This week is no exception.
Many nations are popular for Americans seeking to diversify their banking risks and …
Tag Archives: IRS
Tax Evasion in China Could Put You in Front of a Firing Squad!
Thousands of New Tax Cops Hit the Streets!
by Brian H. Mahany
A just released report shows the IRS collected $400,000,000,000 less in 2009 than in 2008. (Yes, that is 400 billion.) No surprise there - the economy remains in a slump and placing food on the table occupies a higher importance than paying taxes for many families.
The same report, released by the Treasury …
Business Owners Beware - Here Comes Another Whistleblower Program
by Brian Mahany
They say the devil is always in the details and that certainly applies to much of the recent financial reform legislation coming from Capitol Hill these days. Jilted lovers and disgruntled employees have reported billions of dollars of unpaid taxes since the IRS revamped it’s whistleblower program. Why have they done so? Congress …
When It Comes To Banking, “Don’t Ask, Don’t Tell” Is The Best Policy (offshore accounts)
by Brian Mahany
Government tax authorities asking banks and credit card companies for information on foreign account holders is hardly news these days. The I.R.S. does it, so do Germany, Britain and many other countries. Officials want to know when their citizens transfer wealth overseas or open foreign accounts. Generally the practice is legal if the …
Scam or Legit? Pre-Paid Offshore Debit Cards with No Personal Details
by Brian Mahany
Sounds too good to be true. A Master Card debit card with no name on it. Issued by a bank in Central America, the card does not bear the cardholder’s name. Not on the front of the card or in the magnetic strip. Apparently the bank requires some identification details but claims those …
Frivolous Tax Arguments? - Beware the Tax Man!
By Brian Mahany
The concept of fining people for taking frivolous tax positions sounds pretty good at first. The California Franchise Tax Board announced it was going to fine taxpayers $5000 per offense for those who make “frivolous” arguments or attempt to “delay or impede the administration” of tax laws. The problem, of course, is allowing …
Sex Changes and Breast Augmentations - What Is Tax Deductible and What Is Not
by Brian Mahany
Recently, I represented an individual who was criminally charged by the IRS for fraudulent tax returns. Although we achieved a great result for the client, his attempt to deduct his wife’s breast enlargement surgery was rejected by the court. It turns out, however, that removal of one’s penis is tax deductible. Why the …
250 Dead Taxpayers Seek Refund From IRS? Identity Theft Extends Into The Grave.
By Brian Mahany
Every year at election time someone jokes about “voting early and often.” Those jokes often refer to Chicago politicians and stories of dead people voting two or three times. For this story we head west to California where two men have bee indicted for filing 250 refund returns, all fraudulent and all for …
Tax Liens Blues? Read Before You Pay!
Tax Liens? You can still salvage your credit standing but you need to know how.
In today’s economy, keeping a good credit score is more important than ever. A bad credit score can mean no car loan or mortgage or paying much higher rates. Tax liens can ruin your score. Even if you eventually pay the …
IRS Criminal Division Announces 2010 Investigation Targets
The IRS has announced its Criminal Investigation Annual Business Plan for FY2010. This year’s plan is part of the IRS’ larger 5 year strategic plan for 2009 - 2013. Those of us who are baby boomers remember the then Soviet Union’s “5 year plans.” Like the IRS strategic plan, those plans were big on …