The left would have you believe that 1 percenters like Warren Buffett and Mitt Romney are the poster boys for a tax system that favors the rich. Enter James Ross, a 1 percenter who paid 102% of his 201o taxable income in federal income, state income local taxes. James Stewart of the Associated Press has the story: [...]
Oldest Swiss Bank Indicted for Tax Fraud
Commitment to clients. The lawyer’s caseload must allow adequate time for case investigation and preparation. Clients feel assured when they observe that their lawyer cares about them, has integrity, and is committed to prevailing. Look for the personal care and service that indicate sincerity and genuine advocacy. Years of experience. Skills and results typically spring [...]
Remember my blog on theIRS winning the case against GEfor its abusive tax shelter practices? Well, it seems the quest to take down foreign banks that help provide abusive tax shelters for tax evaders continues. For the first time, US authorities have indicted an overseas bank for helping Americans dodge the tax man. The bank in question is the271-year-old Wegelin; a private Swiss bank that recently sold all of its non-US businesses. I guess the Feds were just waiting for the right moment to swoop in.
Several names have been named in helping wealthy tax evaders hide more than $1 billion in assets from the IRS. These guys were finding ways to shuffle funds around that I thought only the writers forâOceanâs Elevenâ could dream up. For instance, one banker brought $16K in an envelope to a meeting. Others renamed accounts and created non-existent foundations.
Yet again, Iâm telling you. You CANâT cheat the IRS. They will find you. If financial masterminds half way across the world canât do it, you canât do it. Be honest with the IRS and hire a tax debt professional, if you are in a bind. Donât wind up behind bars.
Call888-391-2037or fill out the submission form to get a free consultation on what would work best for your tax problem.
A fellow named Charles Sykes has written a new book titled A Nation of Takers: America’s Addiction to Getting Something for Nothing. In the first pages of his book Sykes presents a few scenes from what he calls “Moocher Nation.” Here’s my favorite scene: Q. Why are you here? A. To get some money Q. What [...]
The IRS, Department of Justice, Secret Service, and even the U.S. Postal Service all worked together in recent months to crackdown on identity theft. The group effort helped stop identity thieves from filing fraudulent tax returns and led to 58…
The AP’s Sean Murphy reports that Oklahoma Republicans want to abolish their state income tax: A year after Republicans swept into office across the country, many have trained their sights on what has long been a fiscal conservative’s dream: the steep reduction or even outright elimination of state income taxes. The idea has circulated among academics [...]
On Wednesday February 1, Post Said’s Al-Masry team beat Cairo’s Al-Ahly team3-1. Fans rushed the field after the home team defeated Egypt’s top clubteam unexpectedly. After the game, fighting ruptured in the stadium whichis located in the northeastern city of Port Said. Fans from both teamshit each other with rocks and chairs. Dozens of [...]
Michael Reiss, New Jersey doctor, professor and medical researcher, was sentenced on January 11, 2012 for failing to report his offshore (UBS) bank accounts. According to the IRS, Reiss was sentenced to eight months in a community confinement center for failing to file Reports of Foreign Bank and Financial Accounts (FBAR) with the IRS. Reiss pleaded guilty in August 2011 and agreed to pay back taxes of at least $400,000
Related posts:
We are seeing more and more cases like D.J.M. v. Hannibal Pub. Sch. Dist., ___F.3d____(8th Cir. Aug. 1, 2011) and undoubtedly, will be seeing even more. The 8th held that a school district that suspended a student for off-campus instant…
Indiana is about to be the first State in my adult lifetime to become a Right to Work State. Details here. Mitchell H. Rubinstein
Last month in American Tax Compliance Rates Highest in Civilized World Despite What David Cay Johnston Says I refuted David Cay Johnston’s absurd claim that America’s low tax rates are the cause of it’s alleged rampant tax evasion: Johnston claims that there is ârampant evasion in the U.S.â even though the very study he cites shows that there [...]
Landowner Liability Liability may attach to a landowner for injuries which occur on a public sidewalk if he or she affirmatively creates a condition which leads to the snow and ice accumulation. SeeWoods v. Delgar Ltd., 226 P.3d 1178 (Colo. App. 2009). Affirmatively causing a condition includes“negligently constructing or maintaining” a premises causing water to [...]
I winced this morning when former Pennsylvania Governor, Democrat Ed Rendell, said that he hoped the Supreme Court majority that had decided the Citizens United case was paying close attention to the corrosive influence of super-pacs in the Republican primary.¹ Mr. Rendell apparently believes that the Citizen United Justices should have based their decision not on what the law was, but on what [...]
With tax day just around the corner, many taxpayers will soon scramble to get their documents organized in order to take full advantage of all the tax breaks available to them. Of these taxpayers, homeowners have a lot to gain but to getting the tax help they need, will mean preparing the dreaded and often confusing itemized deductions. Â A Fox Business Article entitled Six Tax Breaks Every Homeowner Should Know
Related posts:
G.G. v Grindle, U.S. 7th Circuit Court of Appeals, Docket 10-3506 The Seventh Circuit Court of Appeals affirmed an award of compensatory and punitive damages based on a jury finding a school administrator failed to prevent the sexual abuse of…
The Marshall Division of the U.S. District Court for theEastern District of Texas has issued the following Standing Order RegardingReadiness for Status Conference: “The CourtORDERSthe Plaintiff in each civil casefile a notice that the case is ready for scheduling conference when allDefendants have either answered or filed a motion to transfer or dismiss. The notice [...]
You can put this post in the thick file labeled “why I favor small government and oppose high taxation.” F.A. Hayek tells us why socialism (i.e. central planning) inevitably leads to totalitarianism (emphasis is mine): Planning leads to dictatorship because dictatorship is the most effective instrument of coercion and, as such, essential if central planning on a large [...]
By way of Paul Caron, the WSJ reports that the Buffett Rule, if enacted, won’t apply to its namesake: Wall Street Journal, Will Buffett Avoid the Buffett Rule? The Sage of Omaha Is Already Positioned to Shield Most of His Rising Wealth From Such a Tax, by James Freeman: Billionaire Berkshire Hathaway CEO Warren Buffett [...]