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: tax evasion
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 …
Will the Tax Man Resort to Illegal Bribes to Get Information? YES!
by Brian Mahany
Last summer I discussed the how the German government bribed a Liechtenstein bank employee to obtain confidential tax information - the names and addresses of German account holders with accounts at LGT Bank. What many did not know, however, was that Germany then apparently shared that illegally obtained information with other tax authorities, …
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 …
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 …
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 …
Obama’s Financial Fraud Enforcement Task Force - Same Ole, Same Ole?
by Brian Mahany
In many ways, the United States government is more about public relations and propaganda and less about action. Take the recent press event in November announcing the creation of the Financial Fraud Enforcement Task Force.
Facing rising public and political pressure in the aftermath of the last year’s financial meltdown, President Obama signed an …
When Laws Become So Complex (or name a document longer than War & Peace)
by Brian Mahany
Just about everyone has an opinion on President Obama’s health care legislation. Some say it will bankrupt our nation. Others say the health care plan is badly needed. Whatever your opinion on the substance of the bill, I say that 99.9999% of Americans have not even read the bill. Unfortunately, the only …