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Tax Evasion Archives

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.

Massachusetts lawyer sentenced to prison time for tax evasion

A lawyer from Colrain received a sentence that includes time in federal prison for his conviction of a tax crime. Formerly, he practiced in Greenfield but has since had his legal license suspended. The man received a six-month prison sentence for his tax evasion conviction. He was also sentenced to a year of probation and was fined $8,000. The charges stem from his failure to report the full amount of his income from 2005 to 2008. According to his lawyer in the case, his actions were a result of financial stress caused by a divorce. Prosecutors say that the man has already paid approximately $150,000 in delinquent taxes.

Former Amtrak employee flees after tax evasion

A former Amtrak employee recently fled to avoid going to prison due to tax evasion. As a jury delivered its verdict of 29 guilty felony counts, the 60-year-old defendant was nowhere to be found. The woman was found guilty of insurance fraud, tax evasion, perjury and grand theft from her employer's retirement board. She received in excess of $500,000 from disability payments due to accidents that the prosecution says she faked. She could receive up to 33 years in prison, but she escaped while she was free on a $50,000 bail that the judge ordered during her trial that lasted two months.

Man evades taxes by hiding $4.7 million

A New Jersey man pleaded guilty to a tax evasion scheme that resulted in hiding up to $4.7 million. The scheme also involved HSBC Holdings. According to the man's plea, he conspired with bankers from HSBC to hide some of his business assets from the Internal Revenue Service. The bankers in question were in New York, London and Geneva. The man is only one of many HSBC clients who is suspected of using undeclared accounts to commit tax evasion. According to the man's charging document, he and others used shell companies that were located in jurisdictions that had tax havens. The businesses were specifically created to hide ownership and who controlled the companies' assets and incomes from the Internal Revenue Service.

Stephen Baldwin arrested for tax crime

Actor Stephen Baldwin was recently arrested for tax evasion in his home state of New York. He is charged with not filing his state taxes for the past three years, resulting in owed back taxes of $350,000, which does not include any applicable penalties. Baldwin resides in Rockland County in the state of New York. According to the district attorney's office, the state and county are facing severe financial setbacks, and this situation is influencing the state to take action against individuals who owe taxes. Stephen Baldwin has been under investigation this past year by the Rockland County Special Investigation Unit and New York State Department of Taxation and Finance office. The actor's representative, however, stated that he was not trying to deceive anyone

Chicago politician charged for tax evasion

A Chicago politician has been charged with tax evasion after being accused of diverting in excess of $225,000 from campaign coffers to pay for gambling and other personal expenses. The former police officer who is now a politician pleaded not guilty to four tax crimes. Each crime carries a potential prison sentence of three years. He is also charged with taking $68,000 of campaign money in order to increase the amount of his pension. The trial carries many similarities to the Rod Blagojevich trial, which led to a 14-year prison sentence for the former governor. The judge is the same, and many of the attorneys on each side are the same attorneys as the former trial.

Tax evasion conviction for real estate seminar instructor

A man who conducted seminars in the United States and Canada regarding commercial real estate investment has been convicted of multiple counts of tax evasion. According to tax department officials, the man failed to file income tax returns between the years of 2001 and 2007. The man's income for the period of time was reportedly $3.6 million and resulted in approximately $213,000 in unpaid taxes. In addition to his seminar work, he also worked for the Trump Organization as an independent contractor. The man pleaded guilty to five charges, which are classified as class E felonies. His jury trial was scheduled just a few days later at the time of the plea. After the government began its investigation, the man filed the delinquent tax returns. He faces a potential maximum sentence of four years for each charge.

Foreign bank accounts to be more transparent under new law

A new banking law known as the Foreign Account Tax Compliance act, or FACTA, is set to bring closer scrutiny on people in Massachusetts and elsewhere around the country who have significant assets with financial institutions outside the U.S. The law could serve to ensnare more people with tax evasion charges.

Amesbury man charged with multiple counts of tax evasion

A man who is charged with 22 counts of tax evasion over a period of six years is the president and treasurer of a landscaping company in Amesbury, Massachusetts. He has held his position with the company since 1997. The state attorney general has accused the man of failing to pay over $445,000 in employer contributions that the business was legally bound to pay. This amount includes interest and amounts due to the unemployment trust fund. The nonpayment of taxes allegedly occurred between October 2006 and January of this year. The workers were being paid, and the business was operating at the time, signifying the business owner's legal responsibility to pay employer contributions to the government. Workers who were no longer employed by the company collected more than $595,000 in unemployment wages in spite of the company's failure to pay in the required $445,000 in contributions.

Dartmouth resident receives federal tax evasion sentence

A man from Dartmouth, Massachusetts, was recently sentenced after his tax evasion conviction. He received a sentence for two years and a $50,000 fine and over $300,000 in restitution, payable to the Internal Revenue Service. According to court documents, the man and his girlfriend defrauded the country by avoiding tax assessments and the collection of income taxes for three years. He did not file any tax returns or pay the taxes that he owed for these years. He had acquired a number of real estate units and received rental income for most of these properties, some of which were commercial properties. He also received capital gains on some investments. For the three years that he did not pay income taxes, he made between $264,000 and $485,000.

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