Friday, April 27, 2012

Another FBAR conviction

On April 20, 2012, in a huge win for the government, a jury found Attorney Rick Matsa of Ohio guilty of one count of willfully failing to file a Report of Foreign Bank and Financial Accounts (FBAR).

The Justice Department and Internal Revenue Service (IRS) announced on April 20, 2012 that attorney Aristotle “Rick” R. Matsa, of Worthington, Ohio, was convicted of numerous tax fraud and obstruction of justice related offenses, including witness tampering and making a false statement.
In addition, Rick Matsa and his mother, Loula Z. Matsa, were convicted of conspiracy to obstruct justice, commit perjury, and make false statements, following a five-week trial in Columbus, Ohio, before the Honorable Edmund A. Sargus Jr.
Attorney Matsa faces a potential sentence of 108 years imprisonment and a fine of up to $3.25 million.  In addition, mother Loula Matsa faces a potential sentence of five years imprisonment, a fine of $250,000 Read this article to learn how to get FBAR help to avoid this tragedy happening to you.
If you’re a U.S. citizen, or if you have permanent residence status (a ‘green card’) or visa, you must declare any income earned in the U.S. or abroad on your annual IRS tax filing. This includes investment income, bank account interest, and any other asset that generates income.

If you you’ve failed to report income and filing an FBAR , you can be prosecuted for federal tax evasion – a felony – which as Attorney Matsa and his mother found out, is a felony which carries huge jail time and staggering fines.

The IRS’s focus and attention is all about offshore accounts. From criminal to audits, the IRS is training and hiring huge amounts of new staff to crack down on people they feel are breaking the law.

 Department of Justice's take on this conviction:

“Today’s verdict shows that attorneys and other professionals who violate the tax laws or who attempt to obstruct justice will be held accountable for their actions,” said Assistant Attorney General for the Tax Division Kathryn Keneally. “Those who illegally attempt to hide their income and assets from the IRS through fraudulent trusts or offshore bank accounts will be prosecuted and punished.”

“Those Americans who file accurate, honest and timely tax returns can be assured that the government will hold accountable those who don’t,” said Rick A. Raven, Acting Chief, IRS Criminal Investigation.”

The experienced Tax Attorneys at Marini and Associates, PA can help you resolve your FBAR Problems!

We want our clients to make the best decision when they are presented with uncomfortable facts in this highly-aggressive FBAR enforcement climate.

We’ve helped clients understand how to weigh advantages of the 2012 Offshore Voluntary Disclosure Initiative (OVDI) and calculate risks when confronted with other choices such as “quiet” or “soft” disclosure and expatriation, along with the risk of doing nothing. 

It has never been more important to get FBAR help than it is now!

For FBAR HELP contact the Tax Attorneys at Marini and Associates PA, at our website www.TaxLaw.ms or call usToll Free at (888) 882-9243 (888 8TAXAID).



1 comment:

  1. Open letter to Judge Sargus,

    Every day I check the internet to see whether there is already a sentencing of my old friend Rick Matsa the man who didn't pay enough taxes. I don,t know you personally Judge Sargus but i've read about you and saw your picture.
     I suppose it's up to you now to decide  the fate of Rick. With this letter i am trying to influence your sentencing.

    The jury found him guilty on all 22 counts. The maximum punishment is 108 years.

    My problem is that i have been part of this.  More then 20 years ago i gave Rick signatures because he asked me to. At the time i couldn't see what it was for. I was an easy friend who was willing to do many chores for the sake of friendship. You can call me a dum goose if you like. If i only had known then and understand what i understand now, i never would have given him those signatures nor would i have helped him to open a bankaccount in 2003 in the Netherlands.

    The irony of the whole story is that in the end my friendly  behaviour helped him go to prison.

    Since september 2007 when the DOJ and IRS came to my town Almelo I've learned a lot more about finances, trusts, Wall Street  and the I RS.


    Just recently i became aware of the fact that in America there is a very small chance to get caught when you dont pay enough taxes when you are a selfemployed worker*. 
    So cheating is actually much too easy in America. 
    From experience, i'm 54 now, i can tell that most people will cheat when it is very easy. 
    In our country it is not so easy to cheat. Our system helps us to pay the right amount. When people do get caught cheating they receive a proposition and a fine from the dutch IRS .When it's about a real big amount they also get some jailtime, 108 years however is unheard of.

    Now Judge Sargus, i would like you to think twice before ruling to harsh.

    For our feeling of justice we should reserve long sentences for real ugly crimes. 
    For the feeling of justice we should first look for the biggest cheaters.

    For all the persons involved: his mother and daughter,  their lives would be ruined as well. 

    In this case,to my personal opinion, justice would be served by giving him a fine of all the lost taxes + 50 % + community service, he seems to be an excellent highschoolteacher. Jail time would be totall waste of precious talent wich we need so much to serve society.

    Judge Sargus i hope you read this before the sentencing.

    Charlotte Mekenkamp **



    *the book: Freakonomics
     Levitt&Dubner pinguin page 251
    ** aka charmek

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