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Tax Crimes Archives

Swiss financier faces charges of fraud

Tax experts in Massachusetts are watching a case that involves federal prosecutors charging a Swiss asset manager for tax evasion through offshore trust funds at numerous banks in Switzerland. The 52-year-old citizen of Switzerland could be sentenced to a maximum of five years in custody for the tax crimes. Authorities have charged him with engaging in fraud for at least 13 years and claim he worked with at least five financial institutions in his native country on the scheme.

Protest movements roundly rejected by judges

A recent tax case involving a woman who claimed that she didn't owe tax because she was not an American citizen was sentenced to five years in prison. The woman represented herself and reportedly did herself no favors by being rude and vocal toward prosecutors and the judge in her case. It also didn't help that she claimed over $8 million in tax refunds that she was not entitled to. She tried to claim that she was exempt from paying tax because she was a sovereign citizen, a status that people in Massachusetts and around the country have on occasion tried to claim.

Massachusetts man sentenced after tax evasion allegations

A Massachusetts man who owns a drywall and plastering business was sentenced to three years of probation, six months of home detention, and three months in a halfway house at the end of a tax evasion case on Dec. 19. The man, owner of P.L Drywall Inc., was ordered to pay a $3,000 fine as well as nearly $200,000 in back taxes. The case stems from allegedly falsified tax returns that concealed over $900,000 in income from 2004 to 2006. According to a report, he reportedly lied about his income during an interview with the IRS.

Crackdown on identity theft and tax fraud

While many federal workers in Massachusetts and elsewhere were furloughed in the beginning of October as a result of the federal government shutdown, many federal law enforcement agents were working to crack an alleged tax fraud scheme centered in South Florida. As a result of the investigation, 45 individuals are facing charges for various tax crimes in 30 different cases.

Former U.S. Rep. pleads guilty to tax fraud

Former United States representative Jesse Jackson Jr. and his wife, a former alderman, will be heading to prison after admitting to being involved in misusing campaign funds. In February, the pair pleaded guilty to several tax crimes. If a Massachusetts citizen is found guilty of a federal tax crime, they could also be the recipient of a prison sentence.

Couple charged with tax fraud

A married couple has been charged with tax fraud, and, if convicted, may face prison time. The husband and wife were tax preparers who allegedly falsified their clients' tax returns in order to get more clients and increase their income. Massachusetts residents should take note of this case because even though the couple was conducting their business in New Jersey, such tax crimes could happen anywhere.

Immigrants and Tax Law

The residents of Massachusetts may be interested to know about a case of an immigrant who portrayed himself as a priest, opened 30 accounts and interacted on Facebook to rake up more profits. This African born immigrant has decided to take an advantage of the freedom America offers. The individual filed 17 false claims to IRS and received refunds within the range of hundreds of thousands of dollars. He used different identities to obtain the money from the IRS, but there is no trial scheduled as of yet because he has been diagnosed as mentally incompetent. Court-appointed psychiatrist has stated that the individual is unable to make sound decisions or understand the nature of his crimes.

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.

Carefully choose a tax preparer to avoid problems

The IRS is aware of several tactics that unethical tax preparers use, and it is trying to warn the general public this tax season. Tax preparers may file false income tax returns by claiming more personal expenses or business expenses, claiming deductions or credits that they do not qualify for and using exemptions in an excessive manner. The IRS has also seen tax preparers who may change income figures on the tax returns to try to get more credits for the client. However, Boston taxpayers are the ones who are ultimately held responsible when fraudulent income tax returns are submitted. Typically, they are required to pay any additional taxes, interest and penalties that are incurred due to a false income tax return. They may also be held criminally liable in some cases.

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