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Tax Evasion Archives

Expats from Boston caught in Swiss bank move against tax evasion

A group of U.S. citizens, including Boston natives, living in Switzerland, said that they've been labeled tax dodgers. This was in reaction to a move by Swiss banks to prevent tax evasion through its secret accounts. The deal required banks to reveal data about clients and pay fines that reached up to $1 billion, spelling out even bigger trouble for actual tax evaders. That trouble came in the form of fines, penalties and possible prosecution if that information disclosed their identities to the Internal Revenue Service.

Outside businesses help tax agencies fight fraud

Because of several scams that have affected people from Massachusetts and others across the nation, a number of agencies, including the IRS, are using new programs to verify the authenticity of tax refund claims. Several of the companies that are working to prevent tax evasion include SAS Institute, LexisNexis Group and International Business Machines Corp.

Company owner convicted of tax evasion sentenced to jail

The owner and operator of a large Massachusetts company was convicted of tax evasion after failing to file tax returns between 1997 and 1999. He was sentenced to three years in prison and has been ordered to pay more than $716,000 in restitution. When he completes his jail sentence, he will also face two years of supervised release.

Doctors arrested for tax evasion

Massachusetts residents, like others, are required to pay a certain portion of their income in taxes or risk punishment. While arrests for income tax evasion are not common, they do occur from time to time. The Department of Justice reports that a couple in the Caribbean have been indicted for concealing money in offshore bank accounts in order to defraud the Internal Revenue Service.

Massachusetts man charged with tax evasion

A Milford man has been charged with using evasive tactics to avoid paying taxes on his income. The tax evasion charges spring from allegations that he used check-cashing services to cash the majority of his check received from clients for his masonry business. He is also accused of paying his employees in cash and failing to withhold taxes on their income.

Government pursuing offshore accounts for tax evasion

A billionaire's wife in Russia has accused her estranged husband of hiding significant assets to keep them from her through their divorce process. The two have battled over the accusations in at least seven countries concerning a portion of the man's $9.5 billion estate beginning in 2008 when the wife filed the divorce complaint. This situation has larger implications due to the use of offshore accounts and the government's mission to pursue individuals in Boston and other areas who are using these types of accounts to commit tax evasion. The billionaire's wife in this case is accusing her husband of using offshore holding companies and trusts to hide the couple's assets. She claims that he has stashed away approximately $500 million of art, a yacht valued at $80 million and jewelry worth approximately $36 million. She has pursued her case in a variety of courts, including one in the United States to go after approximately $6 billion that she believes is owed to her. Her case represents the significant value of assets that some people attempt to hide through the use of offshore accounts.

Actor owes $300,000 in back taxes

Massachusetts residents may have heard that Stephen Baldwin has entered into a plea agreement regarding taxes that he owes New York state. In exchange for paying $300,000 within a year's time, Baldwin will avoid carrying around a record for tax evasion. Stephen Baldwin originally owed taxes, interest and penalties in the amount of $400,000, but according to New York state Supreme Court Justice Charles Apotheker, Baldwin has paid off approximately $100,000 of his tax debt. He admitted in court that he did not pay the state income tax that he owed for the years 2008, 2009 and 2010. He has one year to pay off the rest of the debt that he owes to avoid jail time and a criminal record for the offense, but if he is unable to pay off the $300,000 within that time frame, Baldwin will receive a five-year probation sentence and a five year time frame in which to pay off the remaining debt.

Former Quincy resident convicted for tax evasion

A 70-year-old man formerly of Quincy was convicted for five counts of tax evasion as well as stealing funds from a federal housing assistance program. The man was also convicted of two counts of conspiracy and two counts of making false statements. The tax evasion convictions and related charges involved two elaborate schemes: one involving a false-invoice scheme and the other Section 8 housing fraud.The crime began after he was hired as a salesman by Xcel Fire Protection, an indoor sprinkler company. The man told Xcel's general manager that he owned several businesses, including a trucking company, moving and real estate business and a business equipment company. According to authorities, the man sent false invoices in the names of the companies that he owned to Xcel for goods or services that these businesses had never provided. The general manager authorized the company to pay the invoices by check. In exchange, the man gave the general manager 90 percent of the value of the checks while keeping 10 percent for himself. The man and the general manager did not pay the correct amount of income taxes toward the $490,000 that they received through these transactions.

Massachusetts man sentenced for tax evasion

A judge in New York ordered an 83-year-old Massachusetts man to pay a large civil penalty after he was found guilty of tax evasion. He is said to have hidden $5.7 million from the Internal Revenue Service. According to authorities, the man had spent several years of his life attempting to hide his wealth from the IRS. He used Swiss bank accounts to prevent authorities from learning about his real wealth. However, Americans are required to file Foreign Bank and Financial Accounts Reports when they have a foreign bank account with a balance of more than $10,000. This man was accused of failing to file these reports from 2006 to 2011. The man's financial adviser was also charged with conspiring with United States taxpayers to hide over $184 million from tax authorities.

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