tag:blogger.com,1999:blog-63982326807382794692024-03-28T20:29:34.453-07:00The Tax TimesThe Tax TimesRonald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.comBlogger2500125tag:blogger.com,1999:blog-6398232680738279469.post-91866213114192970682024-03-18T09:32:00.000-07:002024-03-18T09:32:44.836-07:00 IRS Enforcement Targets 125K Wealthy Non-Filers - You Think it May Be Time To Get Compliant?<p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"></span></div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq2R8DWookpk9g2D6Fa5g_LVdzfkpAYfZggUkN-VyhVteHbH-b-YUFg5-1R3zV_x2DFNcFQdWhkwsBG1MSXPzxh9uuHiryAg4BmaEDkQs5cTr-2oaV_rlS_Jib_3PsNj-zNuZS-7KzIaAGGg9BTIonclIZCHl7xWXBnfP0NhWNqxs0obwtZ5SXZLhtlf0/s311/IRS%20Non%20Filers.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="162" data-original-width="311" height="104" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq2R8DWookpk9g2D6Fa5g_LVdzfkpAYfZggUkN-VyhVteHbH-b-YUFg5-1R3zV_x2DFNcFQdWhkwsBG1MSXPzxh9uuHiryAg4BmaEDkQs5cTr-2oaV_rlS_Jib_3PsNj-zNuZS-7KzIaAGGg9BTIonclIZCHl7xWXBnfP0NhWNqxs0obwtZ5SXZLhtlf0/w200-h104/IRS%20Non%20Filers.jpg" width="200" /></a></div>The</span><span style="background-color: white; color: #373739; font-size: 18px;"> </span>Internal Revenue Service<span style="background-color: white; color: #373739; font-size: 18px;"> </span><span style="background-color: white; color: #373739; font-size: 18px;">is ramping up enforcement against 125,000 high-income taxpayers who haven't filed returns since 2017 as a part of its ongoing efforts to increase tax compliance, the agency's chief told reporters Thursday.</span></span><p></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The IRS will begin mailing compliance letters this week to more than 125,000 taxpayers who have <b>failed to file a tax return </b>between 2017 and 2021, IRS Commissioner Daniel Werfel said. The notices will be sent to about 25,000 taxpayers with more than $1 million in income, and the remaining will go to taxpayers with incomes between $400,000 and $1 million, the agency said in a<span style="background-color: white; color: #373739; font-size: 18px;"></span></span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; color: #373739; font-family: times; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><a href="https://www.irs.gov/newsroom/irs-launches-new-effort-aimed-at-high-income-non-filers-125000-cases-focused-on-high-earners-including-millionaires-who-failed-to-file-tax-returns-with-financial-activity-topping-100-billion">statement</a></span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">. </span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The agency expects to send about 20,000 to 40,000 letters each week, beginning with filers in the highest income categories, Werfel said.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The amount of revenue the agency might be able to recover is uncertain, Werfel said, adding that the agency isn't aware of potential credits and deductions the involved taxpayers might be entitled to receive.</span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><b>"The Third-Party Information on These Taxpayers </b><br /><b>Indicates Financial Activity of More Than $100 Billion,"</b></span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht13gmK0djM1ZkSCb2cdoFpcYyBn1BxTO91NeDjeqjLRd-KUjvbl4i759I7xCGEXSyn40wrXEkvK27OR4vHSS0QCIn8z1ux5-pWPBASZdRJ6-gfhyPMs1syjqsXzrt6OZMw8uFtA_r4DbG6rOm7LBWRs1hsN4FQBL_bLOc2vU4cmnuF_PGyHo1gF_Dvng/s1024/Uncle%20Sam%2087000%20New%20IRS%20Agents.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1024" data-original-width="767" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEht13gmK0djM1ZkSCb2cdoFpcYyBn1BxTO91NeDjeqjLRd-KUjvbl4i759I7xCGEXSyn40wrXEkvK27OR4vHSS0QCIn8z1ux5-pWPBASZdRJ6-gfhyPMs1syjqsXzrt6OZMw8uFtA_r4DbG6rOm7LBWRs1hsN4FQBL_bLOc2vU4cmnuF_PGyHo1gF_Dvng/s320/Uncle%20Sam%2087000%20New%20IRS%20Agents.png" width="240" /></a></span></div><p></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">Werfel told reporters, though he later noted that it's unclear how much of that is taxable income. "But even with a conservative estimate, the IRS believes hundreds of millions of dollars of unpaid taxes are involved in these cases," Werfel said.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The agency will also be taking steps to update nonfilers who are entitled to a refund, Werfel said. Last year, taxpayers, many with lower incomes, were entitled to a potential refund of nearly $900 because they hadn't filed a 2019 tax return, he said, adding that those taxpayers will be updated later in the tax season.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">Werfel urged taxpayers who haven't filed to do so voluntarily and as quickly as possible, saying that failure to act can lead to IRS compliance activities, including audits, as well as criminal prosecution. Typically, when taxpayers are issued a letter, there is an eight-week window between the time the letter is received and when taxpayers need to contact the IRS with a filing, he said.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">Since 2016, the IRS nonfiler program has only run sporadically because the agency hasn't had the resources to pursue nonfiler cases, Werfel told reporters. The</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> Inflation Reduction Act</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">'s major investment has given the agency the capacity to restart the nonfiler program, he added.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The program has been updated, Werfel said, adding that the agency used to identify nonfilers as a global group, send the notices out and get follow-up from taxpayers in the form of phone calls, incoming letters of dispute and incoming tax returns.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The IRS now has the staffing and technology to efficiently follow up on those notices, Werfel said. Another is that the agency is prioritizing high-income taxpayers, he said.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjw3KsyfhyphenhyphenhEf3-howj41Bgucyaos2G-LmvDSOliO-iPIZLZjVFK73Ph1ivw7_VA7FB6p90PyZG1Wy3LAYJJtN0-IQM3kdIR7E3kphNWMB8xWd-jzcPgZLSQJWO_jggeOWu8hGWlSnjx3JakcdPGsFw8fR2pAoKxGQIatHbTolfW9U-p7-jhrtQOxgPKaM/s796/Wealth%20Squad.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="447" data-original-width="796" height="113" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjw3KsyfhyphenhyphenhEf3-howj41Bgucyaos2G-LmvDSOliO-iPIZLZjVFK73Ph1ivw7_VA7FB6p90PyZG1Wy3LAYJJtN0-IQM3kdIR7E3kphNWMB8xWd-jzcPgZLSQJWO_jggeOWu8hGWlSnjx3JakcdPGsFw8fR2pAoKxGQIatHbTolfW9U-p7-jhrtQOxgPKaM/w200-h113/Wealth%20Squad.jpg" width="200" /></a>"We are establishing that our resources will be focused first and foremost on those taxpayers that are of higher means," Werfel said. "For taxpayers that are of lower means, our emphasis will be on working with them around making sure that they file because, in many cases, taxpayers at a lower income range are actually owed a refund or owed some type of credit."</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">It's outrageous that so many high-income individuals have routinely gotten away with failing to file tax returns, Senate Finance Committee Chairman Ron Wyden, D-Ore., said Thursday, adding that it's great that the IRS is going after them.</span></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have an IRS Tax Problem?</font></b></p><p class="MsoNormal" style="line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; 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Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-57214458317765187232024-03-18T09:18:00.000-07:002024-03-18T09:18:00.639-07:00Estate of Logger Owed Failure To Report $3M In Foreign Banks Penalty<p><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHAIuNQyXVHT6JKCkdBljsKCA2VFkMrw1cn8bj9RLgZy2bOoj6dpHMPewsyXxO1P5-sGj4YgfOU3-26gkRRyvglJqgOF5-iWjd9dIEkHAgaagMFj2UeorhW2RxXnviueAuxNW2-QBIeKt-8_SGJL-JGp0Y5W9ErGGmyI6Saah6x5mcaMwVx98VS3gsGnU/s286/FBAR%20Penalty%20-%20Willful%202.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="176" data-original-width="286" height="123" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHAIuNQyXVHT6JKCkdBljsKCA2VFkMrw1cn8bj9RLgZy2bOoj6dpHMPewsyXxO1P5-sGj4YgfOU3-26gkRRyvglJqgOF5-iWjd9dIEkHAgaagMFj2UeorhW2RxXnviueAuxNW2-QBIeKt-8_SGJL-JGp0Y5W9ErGGmyI6Saah6x5mcaMwVx98VS3gsGnU/w200-h123/FBAR%20Penalty%20-%20Willful%202.jpg" width="200" /></a></span></div><span style="font-family: times;">According to <a href="https://www.law360.com/tax-authority/articles/1808391/logger-failed-to-report-3m-in-foreign-banks-judge-rules">Law360</a>, a<span style="background-color: white; color: #373739; font-size: 18px;"> logger failed to report more than $3 million he kept in foreign accounts, then fraudulently transferred the bulk of it to his wife when he learned he was being audited by the IRS, a Colorado federal judge said in upholding $1.7 million in penalties. </span></span><p></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">George Harrington, who died last year, had argued that he didn't control the accounts and therefore wasn't required to report them, but his argument</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; color: #373739; font-family: times; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">was undercut</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">by amended tax filings in which he had reported the accounts to the</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span>Internal Revenue Service<span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">, U.S. District Judge S. Kato Crews said in an order.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">"But a signed tax return is an admission," Judge Crews said in an order upholding the government's request for $1.7 million in penalties from Harrington's estate for failing to report foreign bank accounts to the IRS.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">Harrington told the court in 2022 that, following an IRS audit in 2012, he had mistakenly allowed his attorney and an IRS examiner to convince him to submit amended returns that included foreign bank account reports for the two accounts in question. One was a type of foundation held in Switzerland and the other contained two life insurance policies held by a company in Lichtenstein, according to court documents.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The attorney advised Harrington that it would be less expensive to disclose the accounts and settle the tax liabilities than to fight the audit, Harrington said in a filing in the case in November 2022. However, Harrington argued, federal rules and regulations pertaining to beneficiaries of foreign annuities applied to his relationships with the foreign accounts and should have excluded him from the reporting requirement.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">Harrington's failure to file FBARs for the four-year period was willful because he knew about the filing requirement, Judge Crews determined. During a similar time period, Harrington filed the reports disclosing his interest in accounts at</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span>Bank of New Zealand<span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">, according to the order. Harrington also used multiple foreign bankers and attorneys to help him manage his investments, the judge said.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">Harrington worked as a logger in Washington state before logging as an independent contractor for Eastern Wood Harvesters in Canada, according to the order. Early in his career with EWH, around 1986, Harrington sold his house and gave the $350,000 in proceeds to a company attorney. In 2002, another attorney contacted Harrington and told him to come to the Cayman Islands because the EWH account "was being wound down," according to the order.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">In the Caymans, Harrington and his wife became powers of attorney for a</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span>UBS AG<span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">account in Switzerland, from which Harrington transferred funds to a Liechtenstein entity known as a stiftung. The stiftung, a type of foundation, then opened an account at UBS Switzerland.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">When UBS closed the account in 2009, Harrington rolled its contents into $3.1 million in life insurance policies with a Liechtenstein company, ValorLife, according to the order.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">Judge Crews agreed with the government's claim that Harrington had cashed out the insurance policies and transferred $2.8 million in proceeds to his wife, saying the timing of the transfer showed evidence of fraud. The proceeds of the policies were transferred into a Swiss account at</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span>Vontobel Holding AG<span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">in Harrington's wife's name the day after Harrington and his tax attorney had their first interview with the IRS, according to the order.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">However, Judge Crews declined to force Harrington's wife to repatriate funds to cover her husband's FBAR penalties on behalf of his estate, instead taking the government's request under advisement and asking for more information about its legality.</span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">The government argued that the $2.8 million deposited into Harrington's wife's account was actually money she shared with her husband by way of the originating life insurance policies, and that the law in Washington state, where the couple lived, determines that co-owned property can satisfy the liability. But the relevant law, U.S. Code</span><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"> </span>Title 28, Section 3010<span style="background-color: white; color: #373739; font-family: times; font-size: 18px;">, requires examining the laws of the foreign country where the property is being held, in this case Switzerland or Liechtenstein, to determine whether it can be used to satisfy the liability, Judge Crews said.</span></p><div style="color: black; text-align: center;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="mso-fareast-font-family: "Times New Roman";"><strong><span style="font-size: large;">Have an FBAR Penalty Problem?</span></strong></span></span></span></span></span></span></span></span></span></span></span></span></span> <span style="font-family: times, "times new roman", serif;"> </span></span></div><div style="color: black; text-align: center;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="font-family: arialunicodems_pdf_subset; font-size: x-small;"><span style="font-family: arialunicodems_pdf_subset; 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color: black; text-align: center;"><div><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="mso-fareast-font-family: "Times New Roman";"><strong><span style="font-size: large;">Never Stop Arguing<br />Legal Basis for Abatement!<br /><br /></span></strong></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div><div><span style="color: #373739; 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font-family: times, "times new roman", serif; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">for a FREE Tax Consultation </span></strong></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><strong style="color: #373739; font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at: </span></span></span></strong></div><div class="MsoNormal" style="font-family: "Times New Roman"; line-height: normal; margin-bottom: 0in;" trbidi="on"><span style="font-size: large;"><strong style="color: #373739; font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.taxaid.com/"><span style="color: #5588aa;"><span style="color: blue;">www.TaxAid.com</span></span></a> or </span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.ovdplaw./"><span style="color: #5588aa;"></span></a><a href="http://www.ovdplaw.com/"><span style="color: #5588aa;"><span style="color: blue;">www.OVDPLaw.com</span></span></a></span></span></span></strong><a href="http://www.ovdplaw.comcomor/" style="font-family: times, "times new roman", serif;"></a></span><strong style="color: #373739; font-family: times, "times new roman", serif;"><span style="font-size: large;"> </span><br /><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">or </span></strong><span style="color: #373739; font-family: times, "times new roman", serif;"><span style="mso-fareast-font-family: "Times New Roman";"><span style="mso-fareast-font-family: "Times New Roman";"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: times, "times new roman", serif;"><strong>Toll Free at 888-8TaxAid (888) 882-9243</strong></span></span></span></span></span><span style="color: #373739; font-family: times, "times new roman", serif;"></span></div><div align="center" style="font-family: "Times New Roman";"><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="font-family: times, "times new roman", serif;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: times, "times new roman", serif;"><span style="color: black;"></span><br /><br /></span></span></span></span></span></span></span></span></span></span></span></span></span><br /><div class="separator" style="clear: both;"><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGAUcv9cpzxxUCTeQHqV06gDxsyDeoqAPCnwKXK1_KPpLgGV4ZJVCHHyL25wzqoEBQOi5_tHQFjPKe6IG4iivagJ1jAT7LCEhfP6bLg6PPOxX1zW1zs1tzEJjijDKMVlGoJul4dCVlFdI/s1600/great+results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="124" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGAUcv9cpzxxUCTeQHqV06gDxsyDeoqAPCnwKXK1_KPpLgGV4ZJVCHHyL25wzqoEBQOi5_tHQFjPKe6IG4iivagJ1jAT7LCEhfP6bLg6PPOxX1zW1zs1tzEJjijDKMVlGoJul4dCVlFdI/s320/great+results.jpg" style="cursor: move;" width="320" /></a></span></span></span></span></span></span></span></span></span></span></span></span></div><div><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="color: #333333;"><span style="color: #373739; font-family: "times new roman", serif; font-size: 12pt;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: arialunicodems_pdf_subset; font-size: small;"><span style="font-family: times, "times new roman", serif;"><span style="font-family: times, "times new roman", serif;"><br /></span></span></span></span></span></span></span></span></span></span></span></div></div></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-55136488009219259052024-03-18T09:08:00.000-07:002024-03-18T09:08:23.632-07:00Still Have Un-Reported Swiss Bank Accounts? Do you Like Your Freedom?<p><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSoZg1Z_GWq2GNUidxXXmzCpXgln-ZB40Rp9nIR8nnbpK-3qPX81iQt5gAeuTU7jb79OjCH9FVnWIGTn14_N9WoesJr9zbPDsEfcAPUXPuFOM45INAZi-zzIHgIwX9xeCUncAOjbSHa-fOS7_iMkNiu1Kqq41iSoNDL2p3B4OmzMLzDtgUb8DeAUbHkAc/s448/Swiss%20Flag%20Hugn%20Low.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="280" data-original-width="448" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiSoZg1Z_GWq2GNUidxXXmzCpXgln-ZB40Rp9nIR8nnbpK-3qPX81iQt5gAeuTU7jb79OjCH9FVnWIGTn14_N9WoesJr9zbPDsEfcAPUXPuFOM45INAZi-zzIHgIwX9xeCUncAOjbSHa-fOS7_iMkNiu1Kqq41iSoNDL2p3B4OmzMLzDtgUb8DeAUbHkAc/w200-h125/Swiss%20Flag%20Hugn%20Low.jpg" width="200" /></a></span></div><span style="font-family: times;"><br />According to <a href="https://www.justice.gov/opa/pr/florida-man-arrested-alleged-decades-long-scheme-hide-assets-irs">DoJ</a>, <span style="background-color: white; color: #444444;">A federal criminal complaint was unsealed on </span><span style="background-color: white; color: #666666; font-size: 15px;">March 11, 2024</span><span style="background-color: white; color: #444444;"> in the Southern District of Florida charging a Florida man with conspiring to defraud the United States by hiding income and assets offshore and with making a false statement to the IRS.</span></span><p></p><p><span style="background-color: white; color: #444444; font-family: times;">According to the allegations contained in the complaint, </span><span style="background-color: white; color: #444444; font-family: times;">betw</span><span style="background-color: white; color: #444444; font-family: times;">een 1985 and 2020, Dan Rotta hid more than $20 million in assets in at least two dozen secret bank accounts at five different Swiss banks, including UBS and Credit Suisse. Over the years, Rotta allegedly earned substantial income from these assets that he did not report on his tax returns.</span></p><p><span style="background-color: white; color: #444444; font-family: times;">Starting in 2008, after it was reported publicly that UBS and its bankers were under criminal investigation for helping U.S. taxpayers evade their taxes, Rotta allegedly took steps to continue concealing his offshore assets, including by closing his UBS account and moving the funds to Credit Suisse and another Swiss bank, and then later transferring the funds into Swiss bank accounts in the name of nominees.</span></p><p><span style="background-color: white; color: #444444; font-family: times;">In 2011, the IRS allegedly began auditing Rotta after it obtained evidence that he had unreported foreign financial accounts. (From UBS?) Allegedly, Rotta falsely denied that he had any such accounts. During the audit, the IRS allegedly obtained evidence showing Rotta received transfers of hundreds of thousands of dollars from these foreign accounts that he did not report on his tax returns. Rotta allegedly claimed that these transfers were non-taxable loans from third parties and caused his representative to present the IRS with sham loan documents to corroborate his claims. As part of the scheme, Rotta allegedly enlisted his friend and cousin, Co-Conspirator 1, a native and resident of Brazil, to claim to the IRS that he either made or facilitated the fake loans.</span></p><p><span style="background-color: white; color: #444444; font-family: times;">The IRS allegedly did not believe Rotta and assessed additional taxes as well as penalties and interest against him. Rotta allegedly then caused a petition in U.S. Tax Court to be filed that sought a redetermination of the IRS’s assessments. In that petition, Rotta, through his attorney, allegedly falsely denied having any foreign accounts and attached the fictitious loan documents. Furthermore, Rotta allegedly caused Co-Conspirator 1 to travel to the United States and retell the false loan story to IRS attorneys. In 2017, after Rotta allegedly presented evidence showing that the purported loans had been repaid, the IRS reversed the deficiencies and agreed that Rotta owed no additional tax. Unbeknownst to the IRS, however, the funds that Rotta purportedly repaid to the third parties allegedly went into accounts that he controlled.</span></p><p><span style="background-color: white; color: #444444; font-family: times;">In 2019, after he allegedly became aware that the IRS would receive copies of his Swiss bank records, Rotta attempted to participate in the IRS’s voluntary disclosure practice. Under that practice, taxpayers who willfully do not comply with their tax and reporting obligations can make timely, accurate and complete disclosures of their conduct, which may be a way to resolve their non-compliance and limit their criminal exposure. </span></p><p style="text-align: center;"><span style="color: #444444; font-family: times; font-size: large;"><b>In His Submission, Which Was Signed Under Penalties Of Perjury, Rotta Allegedly Made Several False Statements.</b></span></p><p style="text-align: center;"><span style="color: #444444; font-family: times; font-size: large;"><b>_________</b></span></p><p style="text-align: center;"><span style="color: #444444; font-family: times; font-size: large;"><b>Really???</b></span></p><p><span style="background-color: white; color: #444444; font-family: times;">Rotta was arrested on March 9 and made his initial court appearance on March 11, 2024 before U.S. Magistrate Judge Jared M Strauss of the U.S. District Court for the Southern District of Florida. </span></p><p><span style="background-color: white; color: #444444; font-family: times;">If convicted, Rotta faces a maximum penalty of five (5) years in prison for the conspiracy charge and five (5) years in prison for the false statement charge. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.</span></p><p><i style="box-sizing: inherit; color: #444444;"><span style="font-family: times;">A complaint is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.</span></i></p><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span>Do You Have Undeclared Income from<br />an </span></span></b></span><span style="font-family: "times" , "times new roman" , serif;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Offshore Bank or</span></b></span><span> </span><strong><span><span style="font-family: "times";">Financial Advisors</span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;">?</span></span></span></strong></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s1600/Hand+Cuff+-+Tax+Crime.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s200/Hand+Cuff+-+Tax+Crime.jpg" width="171" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><strong><span style="font-size: large;">Is Your Name Being Handed Over to the IRS?</span></strong></span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s1600/Swiss+CD%255B1%255D.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s200/Swiss+CD%255B1%255D.jpg" width="200" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s1600/OVDPLaw.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="503" height="143" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s320/OVDPLaw.JPG" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><strong><span style="font-size: medium;"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: xx-small;"><span style="font-size: small;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Contact the <b>Tax Lawyers </b></span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at</span></span><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"></span></span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-size: large;">Marini & Associates, P.A.</span></span></b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s1600/Logo+2017+Bold.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="600" data-original-width="600" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s200/Logo+2017+Bold.jpg" width="200" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>for a FREE Tax Consultation contact us <span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at:</span></span></strong></span></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"></span><span style="color: #2b00fe; font-size: medium;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.taxaid.com/"><span><strong>www.TaxAid.com</strong></span></a><strong> or </strong></span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.ovdplaw./"><span></span></a><a href="http://www.ovdplaw.com/"><span><strong>www.OVDPLaw.com</strong></span></a></span></span><span style="color: #333333;"><a href="http://www.ovdplaw.comcomor/"></a></span><strong style="color: #333333;"> <br /></strong></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="font-family: "times" , "times new roman" , serif; font-size: xx-small;"></span></b><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>or </strong></span></span><strong style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888-8TaxAid (888) 882-9243</strong> </div><p><i style="box-sizing: inherit; color: #444444;"><span style="font-family: times;"></span></i></p><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: large;">Want to Know if Voluntary Disclosure is Right for You?</span> </span></span></b></div><div><b><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><br /></span></span></b></div><div style="background-color: white; box-sizing: inherit; color: #444444;"><br /></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-63709433679252315132024-03-07T12:54:00.000-08:002024-03-07T12:54:06.429-08:00Treasury States That BOI Filing is Still Required for ALL But Plaintiffs in National Small Business United <p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhspsktoC6Jje1KCBW4-VWHhCq63_zh8Q6gzjhDi05rW-Bfam6IOuIUYeXO6MlAf3GIuL5AqJaFOTJ4-J1Agrz8hcysYO_4mN6boudhftG3Kli3Hud0BeanALM4u2TRfYAcjhvVCWXLjKseyM_mI-PDJfV0dwGNvW7HES8U6KlDAnE8EqTMWf1t9PohqiU/s432/beneficial%20ownership.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="117" data-original-width="432" height="87" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhspsktoC6Jje1KCBW4-VWHhCq63_zh8Q6gzjhDi05rW-Bfam6IOuIUYeXO6MlAf3GIuL5AqJaFOTJ4-J1Agrz8hcysYO_4mN6boudhftG3Kli3Hud0BeanALM4u2TRfYAcjhvVCWXLjKseyM_mI-PDJfV0dwGNvW7HES8U6KlDAnE8EqTMWf1t9PohqiU/s320/beneficial%20ownership.jpg" width="320" /></a></div><br />On March 6, 2024 we posted <a href="https://www.blogger.com/blog/post/edit/6398232680738279469/6655772955829367858">Federal Court Rules Corporate Transparency Act Unconstitutional - No Need to File BOI Just Yet</a> where we discussed that <span style="font-family: times;">i</span><span style="font-family: times;"><span style="font-size: 11.5pt;">n </span>National Small Business United v. Janet Yellen<span style="font-size: 11.5pt;">, a Northern District of Alabama Federal Judge ruled on March 1, 2024, that the CTA was unconstitutional. </span></span><p></p><p><span style="background-color: white; color: #232323; font-size: 16px;"><span style="font-family: times;">At first glance, the summary judgment could be read as banning the Treasury and any other agency of the federal government from enforcing the CTA. However, The court's ruling prohibits CTA enforcement only against the NSBA itself and all of its members.</span></span></p><p><span style="background-color: white; color: #232323; font-family: times; font-size: 16px;">The Treasury Department's Financial Crimes Enforcement Network made its interpretation of the ruling clear in a <a href="https://www.fincen.gov/news/news-releases/notice-regarding-national-small-business-united-v-yellen-no-522-cv-01448-nd-ala">statement </a>issued by FinCEN stated that the ruling applies (ONLY) to the plaintiffs.</span></p><p style="text-align: center;"><span style="color: #333333; font-family: times; font-size: large;"><b></b></span></p><div class="separator" style="clear: both; text-align: center;"><span style="color: #333333; font-family: times; font-size: large;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWPtiIXOnZBQ4AAioR4DjunPYdVngauRh3uItLxd0ypItNxHGAxVwFS-VPYpRQKWvoY84zDTdWWc-XQdmbRtnws_T28YU4bpWvHn7SbfCSa3xYmBCz-szebhmXhQviFMGESyzW2mJJH5O7CB3F8B4_gE71PaHIN_FZUgpla2wTmV-uocTu6TBojXirL3A/s300/Gavel%20&%20Scales.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="209" data-original-width="300" height="139" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWPtiIXOnZBQ4AAioR4DjunPYdVngauRh3uItLxd0ypItNxHGAxVwFS-VPYpRQKWvoY84zDTdWWc-XQdmbRtnws_T28YU4bpWvHn7SbfCSa3xYmBCz-szebhmXhQviFMGESyzW2mJJH5O7CB3F8B4_gE71PaHIN_FZUgpla2wTmV-uocTu6TBojXirL3A/w200-h139/Gavel%20&%20Scales.jpg" width="200" /></a></b></span></div><span style="color: #333333; font-family: times; font-size: large;"><b>"Those Individuals And Entities Are Not Required To Report Beneficial Ownership Information To FinCEN <br />At This Time."</b></span><p></p><div><span style="background-color: white; color: #232323; font-family: times;">Given the extremely limited reach of the ruling, it's doubtful that the Treasury and its FinCEN arm will issue guidance universally suspending CTA enforcement while the appeals process plays out, beyond the FinCEN statement issued on March 4, 2024.</span></div><p><span style="background-color: white; color: #232323; font-family: times;">Therefore all reporting companies facing CTA deadlines should seriously consider filing, even if the Federal District Court's ruling covers them. </span><span style="background-color: white; color: #232323; font-family: times;">Businesses that fail to file in time to meet their CTA deadlines are betting on the NSBA prevailing in the courts. </span></p><p style="text-align: center;"><span style="color: #232323; font-family: times; font-size: large;"><b>Meanwhile, If The US Prevails, These Businesses Will <br />Potentially Face Significant Civil Fines, Interest, And Penalties, As Well As Possible Criminal Penalties, Including Jail Time.</b></span></p><p><span style="background-color: white; color: #232323; font-family: times;">Choosing to file means potentially losing their filing fees and any cost incurred if they decide to use an advisor. However, filing provides peace of mind, staying in CTA compliance means there's no chance of facing more stringent financial and criminal penalties for failure to file.</span></p><p><span style="background-color: white; color: #232323; font-family: times;"><span style="color: #3c3c3c; font-family: "Times New Roman";"></span></span></p><p style="color: black; font-family: "Times New Roman";"></p><p></p><div style="text-align: center;"><div style="color: black; text-align: left;"><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Need Help Filing Your BOI Report?</font></b></p><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; color: black; font-family: "Times New Roman"; font-size: medium; text-align: center;"><b><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjl2qMbWTwVIdmYbrdtgx6k4XnYfLdAD-6yNOPAkHj1oE8_yRUPl2JDo0-Qz4JIJIQYnilO0vjs1I37Z1SFay8ciYp59qNrEI-PmNH8-2tMfLtBfUrC0gmeWLyhsDHvTemD4RhXzqVmTbtjCHRr6l1gVilvKqBGlxlHJf0Ed4Ij7uKIhD__jD76wPD7HpM/s255/BOI%20Form.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="255" data-original-width="197" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjl2qMbWTwVIdmYbrdtgx6k4XnYfLdAD-6yNOPAkHj1oE8_yRUPl2JDo0-Qz4JIJIQYnilO0vjs1I37Z1SFay8ciYp59qNrEI-PmNH8-2tMfLtBfUrC0gmeWLyhsDHvTemD4RhXzqVmTbtjCHRr6l1gVilvKqBGlxlHJf0Ed4Ij7uKIhD__jD76wPD7HpM/w247-h320/BOI%20Form.jpg" style="cursor: move;" width="247" /></a></div><br /></b><b style="text-indent: -0.25in;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span> </span><span> </span></span><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span></span></span></strong></b></div><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; font-family: "times new roman";"><span style="font-size: large;"><font><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none; text-align: left;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none;"><span style="color: #333333;"><span><span><span style="color: #333333;"><span><span style="color: #333333;"><b><span style="color: #333333;"><span style="color: #333333;"><b><span style="color: #333333;"><span>Marini & Associates, P.A</span><span>.</span></span></b></span></span></b></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span></span></strong></span><strong><span style="color: black; font-family: "times new roman";"> <br /><br /></span><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFk7Ktt5PrJMjpN80nNUn2epmqdPJx_j_DL06eTKJHe1G9aQctuARWo6aeSMQ-0W0FZfNMMqFVzbnQyCJkfae2mwzhjj5cJB1prUcacaC13ZRKgEEtcJVJKzSKJgi8UDCBb5x6SJX_POzQinV0l4lUPbK-kWrdY-OtueGRE6wYp6k4CUa3DI7HT1n8/s720/2022%20Logo%202.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="327" data-original-width="720" height="145" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFk7Ktt5PrJMjpN80nNUn2epmqdPJx_j_DL06eTKJHe1G9aQctuARWo6aeSMQ-0W0FZfNMMqFVzbnQyCJkfae2mwzhjj5cJB1prUcacaC13ZRKgEEtcJVJKzSKJgi8UDCBb5x6SJX_POzQinV0l4lUPbK-kWrdY-OtueGRE6wYp6k4CUa3DI7HT1n8/s320/2022%20Logo%202.PNG" style="cursor: move;" width="320" /></a></div></strong></div><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; color: #1a1a1a; font-family: "roboto condensed"; font-size: medium; text-align: center;"><div style="font-family: "times new roman";"><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><br /></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="font-size: medium;"><span><span><font><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">for a FREE Tax HELP Contact us </span><span style="color: #333333;"><span><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">at:</span></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span><br /><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="font-size: large;"><span style="color: #333333;"><a href="http://www.taxaid.com/" rel="nofollow" style="color: #c51c1c; 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font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p plr-id="179179467-82539723" style="color: #252525; font-family: "Times New Roman"; font-size: medium; margin: 1.1em 0px;"><span style="font-family: times;"><span style="color: black; font-family: times;"> </span></span></p><p plr-id="178796281-197445843" style="color: #252525; font-family: "Times New Roman"; font-size: medium; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="color: #444444; font-family: times; font-size: 16px;"></span></p><p style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="color: #373739; font-family: times; font-size: 18px;"></span></p><p plr-id="106206782-47077583" style="color: #252525; font-family: "Times New Roman"; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="font-family: times;"><span style="color: #373739; font-size: 18px;"></span></span></p><p style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="color: #373739; font-family: times; font-size: 18px;"></span></p><div class="separator" style="clear: both; color: #111111; font-family: "Times New Roman"; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" style="cursor: move;" width="320" /></a></span></span></div><div style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="font-family: times;"><br /></span></div></span></span></div><div style="color: black; text-align: left;"><span style="font-family: times;"><br /></span></div></div><p><span style="background-color: white; color: #232323; font-family: times;"><br /></span></p><p><span style="background-color: white; color: #232323; font-family: times;"><br /></span></p><p><span style="background-color: white; color: #232323; font-family: times; font-size: 16px;"><br /></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com1tag:blogger.com,1999:blog-6398232680738279469.post-66557729558293678582024-03-05T07:07:00.000-08:002024-03-18T11:22:04.762-07:00Federal Court Rules Corporate Transparency Act Unconstitutional - Do You Still Need to File BOI?<p></p><div class="separator" style="clear: both; text-align: center;"><br /></div><span style="font-size: 11.5pt;"><span style="font-family: times;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdi26YNsLjHAUstiBYB7HJ-V1WDGR9-u_auYgAAgfEup_CVh3kVyMHFEqO1XWCKjsjSRZfZJS0P1TabYuZCUtDVJYb_j7nWIPoKuWi7m3JQOf9jylCgM2brpmk5R-H343cqTmOm9XViXGCZz0WLJXd3_VRI6RKx2E1Bn6gS8h4GI5fOqDB31K3XazJpZA/s225/Beneficial%20Ownership%20-%20Transparency%20Act.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="225" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhdi26YNsLjHAUstiBYB7HJ-V1WDGR9-u_auYgAAgfEup_CVh3kVyMHFEqO1XWCKjsjSRZfZJS0P1TabYuZCUtDVJYb_j7nWIPoKuWi7m3JQOf9jylCgM2brpmk5R-H343cqTmOm9XViXGCZz0WLJXd3_VRI6RKx2E1Bn6gS8h4GI5fOqDB31K3XazJpZA/w200-h200/Beneficial%20Ownership%20-%20Transparency%20Act.jpg" width="200" /></a></div>The <a href="https://www.blogger.com/blog/post/edit/6398232680738279469/505008783146425682">CorporateTransparency Act (CTA)</a>, created and implemented by the U.S. Department of
the Treasury’s Financial Crimes Enforcement Network (FinCEN), became effective
January 1, 2024. The CTA aims to enhance corporate transparency in an effort to
prevent and combat illicit financial activities, such as money laundering and
tax evasion, discouraging the use of shell corporations as a tool to disguise
and move illicit funds. The CTA implements reporting requirements for limited
liability companies (LLCs), corporations, and other business entities that have
never had to report such information previously, with harsh penalties for
non-compliance.<o:p></o:p></span></span><p></p><p><span style="font-size: 11.5pt;"><span style="font-family: times;">From inception, the CTA sparked debate and controversy across the
country, as evidenced by the hundreds of conflicting comments submitted during
the preliminary drafting and review phase among business owners, lawyers, CPAs,
and other professional groups, many claiming the CTA was too invasive,
unmanageable, difficult to enforce, and, ultimately, ineffectual.</span></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5TUXjxiavbmxZ0_y8mNpiIEDlqOwAZvFsJpzb0N7ynKNOBirNPvAdMHBPnkAhQhyphenhyphen0Pdbnj6eGTU_xpNUScdPARRPC4ouU9xXisDS6Mz49g9mNZAIXfxL9R83-ffimL7PbxlsfVXOswpvIprU6C1NGiUgZHPNhTejUK3V8BxZwTidvPKdKAfcLEpV44yQ/s150/Gavel%20and%20Flag.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="150" data-original-width="150" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh5TUXjxiavbmxZ0_y8mNpiIEDlqOwAZvFsJpzb0N7ynKNOBirNPvAdMHBPnkAhQhyphenhyphen0Pdbnj6eGTU_xpNUScdPARRPC4ouU9xXisDS6Mz49g9mNZAIXfxL9R83-ffimL7PbxlsfVXOswpvIprU6C1NGiUgZHPNhTejUK3V8BxZwTidvPKdKAfcLEpV44yQ/s1600/Gavel%20and%20Flag.jpg" width="150" /></a></span></div><span style="font-family: times;">Now, i</span><span style="font-family: times;"><span style="font-size: 11.5pt;">n </span>National
Small Business United v. Janet Yellen<span style="font-size: 11.5pt;">, a Northern District of Alabama
Federal Judge ruled on March 1, 2024, that the CTA was unconstitutional. Citing
privacy concerns, and a myriad of legal reasoning and precedent around the
scope of Congress’s power, the Court concluded:</span></span><p></p><p>
</p><p><span style="font-size: 11.5pt;"><span style="font-family: times;">“The CTA exceeds the Constitution’s limits on the legislative
branch and lacks a sufficient nexus to any enumerated power to be a necessary
or proper means of achieving Congress’ policy goals…the Corporate Transparency
Act is unconstitutional because it cannot be justified as an exercise of
Congress’ enumerated powers.”</span></span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><b>U.S. District Judge Liles C. Burke Permanently Blocked The U.S. Department Of The Treasury From Enforcing The Law Against The Suit's Plaintiffs, The National Small Business Association And One Of Its Members, Business Owner Isaac Winkles, And Granted Their Summary Judgment Motion.</b></span></p><span style="font-family: times;"><span style="background-color: white; color: #373739;">"Even in the pursuit of sensible and praiseworthy ends, Congress sometimes enacts smart laws that violate the Constitution," Judge Burks said. "This case, which concerns the constitutionality of the Corporate Transparency Act, illustrates that principle."</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Judge Burke said in his opinion that Congress' foreign affairs powers do not justify the CTA's regulation of corporate entities that otherwise fall under the purview of states.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">And while the government alleged that the CTA brings the U.S. into compliance with international standards for anti-money laundering and fighting terrorism financing, the judge said that interpretation of the Constitution's Necessary and Proper Clause "would sanction almost any exercise of congressional power given the existence of a relevant international standard."</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><b><span style="background-color: white; color: #373739;">"Read that way, the Necessary and Proper Clause would give Congress carte blanche to do as it pleases, allowing it to 'reach beyond the natural limit of its authority and draw within its regulatory scope those who otherwise would be outside of it,'" the judge said, quoting the 2012 </span>U.S. Supreme Court<span style="background-color: white; color: #373739;"> decision in </span>National Federation of Independent Business v. Sebelius<span style="background-color: white; color: #373739;">.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /></b><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">The judge also rejected the government's argument that the Commerce Clause justifies the CTA, saying that Congress cannot regulate an entire class "just because some members of the class use the channels and instrumentalities of commerce."</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Among other things, he also said the CTA lacks a jurisdictional hook and is not an essential part of a comprehensive regulatory scheme, leaving it outside the scope of Congress' power to regulate "non-commercial, intrastate activity."</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /></span><span style="color: #3c3c3c;"><div style="text-align: center;"><div style="color: black; text-align: left;"><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; text-align: center;"><b style="text-indent: -0.25in;"><font size="5">No Need To File Your BOI Report YET!</font></b></p><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; color: black; font-family: "Times New Roman"; font-size: medium; text-align: center;"><b><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjl2qMbWTwVIdmYbrdtgx6k4XnYfLdAD-6yNOPAkHj1oE8_yRUPl2JDo0-Qz4JIJIQYnilO0vjs1I37Z1SFay8ciYp59qNrEI-PmNH8-2tMfLtBfUrC0gmeWLyhsDHvTemD4RhXzqVmTbtjCHRr6l1gVilvKqBGlxlHJf0Ed4Ij7uKIhD__jD76wPD7HpM/s255/BOI%20Form.jpg" style="margin-left: 1em; 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color: #111111; font-family: "Times New Roman"; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><div style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="font-family: times;"><br /></span></div></span></span></div><div style="color: black; text-align: left;"><span style="font-family: times;"><br /></span></div></div></span><p></p><p class="MsoNormal" style="line-height: 16.5pt; text-align: left;"><b><em><span face=""Arial",sans-serif" style="color: #3c3c3c; font-size: 10.5pt;">Sources:</span></em></b></p><p class="MsoNormal" style="line-height: 16.5pt; text-align: left;"><a href="https://www.law360.com/articles/1809505/corporate-transparency-act-unconstitutional-ala-judge-says">Law360</a></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-31199683312060219752024-02-26T14:08:00.000-08:002024-02-26T14:08:57.279-08:00'Empire' Star Terrence Howard Owes Income Tax After Threatening DOJ Atty<p><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhytFb9Sspz48Pe0-OYvi4N3P54coYasZKblAwBAzNITxegv8FZG1bK2kJQzjYfzILqI4_Ho8LRmPJo2OuEH_09s1w188uy0pgIkMw4Eynh1pfnc16d61nBGsiiFO7VuEcjqNFt8575fC4eWTiLk7WyuxPVE5DmYtxXgeMcgQ-MfuPv84SbhhKy-1eKa8M/s204/Terrence%20Howard.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="141" data-original-width="204" height="141" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhytFb9Sspz48Pe0-OYvi4N3P54coYasZKblAwBAzNITxegv8FZG1bK2kJQzjYfzILqI4_Ho8LRmPJo2OuEH_09s1w188uy0pgIkMw4Eynh1pfnc16d61nBGsiiFO7VuEcjqNFt8575fC4eWTiLk7WyuxPVE5DmYtxXgeMcgQ-MfuPv84SbhhKy-1eKa8M/s1600/Terrence%20Howard.jpg" width="204" /></a></span></div><span style="font-family: times;">According to <a href="https://www.law360.com/tax-authority/articles/1805977?e_id=ff29c9af-a9b9-4dcb-8a73-bff094d0f9b8&utm_source=engagement-alerts&utm_medium=email&utm_campaign=case_updates_tax_authority">Law360</a>, <span style="background-color: white; color: #373739;">Empire" actor Terrence Howard owes more than $900,000 in federal income taxes under a default judgment by a Pennsylvania federal judge that follows a months long search by the government to notify the actor of the suit, during which he threatened a government attorney.</span></span><p></p><p><span style="background-color: white; color: #373739; font-family: times;">U.S. District Judge John F. Murphy </span><span style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; font-family: times; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">granted</span><span style="background-color: white; color: #373739; font-family: times;"> the government's request for the ruling against Howard of $903,000 following a hearing during which an attorney for the </span>U.S. Department of Justice<span style="background-color: white; color: #373739; font-family: times;"> said authorities investigated voicemail messages Howard left her. Those messages, detailed in court documents, included Howard railing against the injustices of taxation and threatening to "bring [her] down."</span></p><p><span style="background-color: white; color: #373739; font-family: times;">"The legal and factual basis for the default judgment is provided in more than sufficient detail in the government's briefing and exhibits," Judge Murphy said in the order, which said interest would continue to accrue on the judgment.</span></p><span style="font-family: times;"><span style="background-color: white; color: #373739;">The government expended considerable time and effort in putting that evidence together. The judgment caps a drama-filled, months long attempt by the government to ensure the TV star knew he was being sued for unpaid taxes for 2010, 2011, 2016, 2017 and 2019, and to prove it in court.</span></span><div><span style="font-family: times;"><span style="background-color: white; color: #373739;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;">The government filed the complaint against Howard in December 2022. In March, the government asked the court for another three months to locate the actor, saying they had sent process servers to Plymouth Meeting, Pennsylvania, the address on file for Howard with the </span>Internal Revenue Service<span style="background-color: white; color: #373739;">. But the gated property appeared to be unoccupied, and its intercom lacked connectivity, according to a March 15 filing.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">An entertainment attorney for Howard told the government that she would contact his tax attorney, who told the government he would discuss the suit with Howard, according to the filing. But by June, the government had come up empty again, telling the court that the tax attorney told them he would not be representing Howard after all, according to a June 20 filing.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">"Despite the United States' diligent efforts, the defendant still has not been served with the complaint and summons," the government told the court in the filing, again asking for more time.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">A Pennsylvania federal court "expressed concerns about the sufficiency of the purported service," according to an Oct. 5 filing, and asked the government to continue trying to notify Howard about the suit against him.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">On Oct. 31, Howard was personally served notice of the lawsuit at a St. Louis Park, Minnesota, address, according to filings.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">The government presented additional evidence confirming Howard's knowledge of the suit in a January request to the court to reduce the debt to judgment. Howard had called Ruwe and left a voicemail message saying he was going to be representing himself and would "need assistance in that", according to a Jan. 8 filing, which included a transcript of the message.</span></span></div><div><span style="font-family: times;"><br style="background-color: white; box-sizing: border-box; color: #373739;" /><div style="text-align: center;"><b style="color: #373739; font-size: x-large;">Howard Said In The Message That He Believed It Was <br />"Immoral For The United States Government To Charge <br />Taxes To The Descendants Of Slaves Who Built This <br />Country For 400 Years," According To The Filing.</b></div></span></div><div style="text-align: center;"><span style="font-family: times;"><span style="color: #373739;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;">When the voicemail cut off, Howard called the attorney back and left another message, saying the U.S. "should, by default, become the property of the descendants of slaves."</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">In the second voicemail, Howard calls Ruwe by her full name and says he's going to post the call on the internet and let "the descendants of slaves" know that he's reached out to her.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><div style="text-align: center;"><b style="color: #373739; font-size: x-large;">"We're Gonna Bring You Down," Howard Said, <br />According To The Transcript, With A Laugh. <br />"Looking Forward To This."</b></div><div style="text-align: center;"><span style="color: #373739; font-size: large;"><b>________________</b></span></div><div style="text-align: center;"><b style="color: #373739; font-size: x-large;"><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; font-weight: 400;"><b style="text-indent: -0.25in;"><font size="5">Have an IRS Tax Problem?</font></b></p><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; font-weight: 400; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; color: black; font-family: "Times New Roman"; font-size: medium; font-weight: 400;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><p style="box-sizing: border-box; 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margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s320/great%20results.jpg" width="320" /></a></div><div><br /></div></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div></b></div><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br /></span></div><div><span style="font-family: times;"><br /></span></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-58946629770213922452024-02-21T13:28:00.000-08:002024-02-21T13:28:02.163-08:00IRS Begins Audits Of Corporate Jet Usage To Ensure High-Income Groups Don’t Fly Under The Radar On Tax Responsibilities<p><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_nVXLuK9yMFPLzCAEm9mlgJETdA0kFuCTHqoYCuAVrc-3_iyKy_V8arMiT1jEpeIruz5SNOPAcLXhyphenhyphenScXge9d4i1SiDv8r6cBSULhmLijuov6J96p_OeqLtY_Sag3b64FZldy7WG_9iM3QyokZkRGUdBzdADdarK47tWF0LMuNPzBIiNk4CoFcJwYzIo/s1365/Top%201%25%20Wealthy.jpeg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="682" data-original-width="1365" height="100" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_nVXLuK9yMFPLzCAEm9mlgJETdA0kFuCTHqoYCuAVrc-3_iyKy_V8arMiT1jEpeIruz5SNOPAcLXhyphenhyphenScXge9d4i1SiDv8r6cBSULhmLijuov6J96p_OeqLtY_Sag3b64FZldy7WG_9iM3QyokZkRGUdBzdADdarK47tWF0LMuNPzBIiNk4CoFcJwYzIo/w200-h100/Top%201%25%20Wealthy.jpeg" width="200" /></a></div>Using Inflation Reduction Act funding and as part of ongoing
efforts to improve tax compliance in high-income categories, the Internal
Revenue Service <a href="https://www.irs.gov/newsroom/irs-begins-audits-of-corporate-jet-usage-part-of-larger-effort-to-ensure-high-income-groups-dont-fly-under-the-radar-on-tax-responsibilities" style="font-family: times;">announced</a><span style="font-family: times;"> on </span><span style="background-color: white; color: #1b1b1b; font-family: times; font-size: 16px;">February 21, 2024</span><span style="font-family: times;"> plans to begin dozens of audits on business
aircraft involving personal use. (</span><span style="background-color: white; color: #1b1b1b; font-family: times; font-size: 16px;">IR-2024-46) </span><p></p><p><span style="font-family: times;"><o:p></o:p></span></p>
<p><span style="font-family: times;">The audits will be focused on aircraft usage by large corporations, large
partnerships and high-income taxpayers and whether for tax purposes the use of
jets is being properly allocated between business and personal reasons.<o:p></o:p></span></p>
<p><span style="font-family: times;">The IRS will be using advanced analytics and resources from the Inflation
Reduction Act to more closely examine this area, which has not been closely
scrutinized during the past decade as agency resources fell sharply. The number
of audits related to aircraft usage could increase in the future following
initial results and as the IRS continues hiring additional examiners.<o:p></o:p></span></p>
<p><span style="font-family: times;">“Personal use of
corporate jets and other aircraft by executives and others have tax
implications, and it’s a complex area where IRS work has been stretched thin.
With expanded resources, IRS work in this area will take off. These aircraft
audits will help ensure high-income groups aren’t flying under the radar with
their tax responsibilities” <o:p></o:p></span><span style="font-family: times;">said IRS Commissioner Danny Werfel.</span></p>
<p><span style="font-family: times;">For someone such as an executive using the company jet for personal travel,
the amount of personal usage impacts eligibility for certain business
deductions. Use of the company jet for personal travel typically results in
income inclusion by the individual using the jet for personal travel and could
also impact the business’s eligibility to deduct costs related to the personal
travel.</span></p>
<p><span style="font-family: times;">The examination of corporate jet usage is part of the IRS Large Business and
International division’s “campaign” program. Campaigns apply different
compliance streams to help address areas with a high risk of non-compliance. <a href="https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjYsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvYnVzaW5lc3Nlcy9sYXJnZS1idXNpbmVzcy1hbmQtaW50ZXJuYXRpb25hbC1jb21wbGlhbmNlLWNhbXBhaWducyIsImJ1bGxldGluX2lkIjoiMjAyNDAyMjEuOTA1ODE3MzEifQ.ptmhGa1n1Wf7CyKnPHUcP1t5_hKx_X3hu7-wGhkGXGw/s/14456379/br/237471257841-l" target="_blank">These efforts</a> include issue-focused examinations, taxpayer
outreach and education, tax form changes and focusing on particular issues that
present a high risk of noncompliance.<o:p></o:p></span></p>
<p><span style="font-family: times;">The IRS will begin conducting examinations in the near future as part of the
agency’s commitment to ensuring fairness in tax administration.<o:p></o:p></span></p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0HvS7IR3mLUJJUDIeMVmOsG03rUBNE0I8nul-rg1K95sEU-RvJwyQRTdaSUDXbOnk5R27MUQ87XI85zjxNzlYCm8gvwzbnogWtlYhY3qn9SJNDMUG057ebZhWuLNxdyHCJ8YSg908miuH5uHS2hkBuLf7UniWC66fJiBUTj_zArd3sgrGWQMtGRM_XeY/s796/Wealth%20Squad.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="447" data-original-width="796" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0HvS7IR3mLUJJUDIeMVmOsG03rUBNE0I8nul-rg1K95sEU-RvJwyQRTdaSUDXbOnk5R27MUQ87XI85zjxNzlYCm8gvwzbnogWtlYhY3qn9SJNDMUG057ebZhWuLNxdyHCJ8YSg908miuH5uHS2hkBuLf7UniWC66fJiBUTj_zArd3sgrGWQMtGRM_XeY/s320/Wealth%20Squad.jpg" width="320" /></a></div><p></p>
<p><span style="font-family: times;">In addition to work on corporate jets, the IRS has a variety of efforts
underway to improve tax compliance in complex, overlooked high-dollar areas
where the agency did not have adequate resources prior to Inflation Reduction
Act funding.</span></p>
<p></p><ul style="text-align: left;"><li><span style="font-family: times;">For example, the IRS is continuing to pursue millionaires that have not paid
hundreds of millions of dollars in tax debt. The IRS has already collected $482
million in ongoing efforts to recoup taxes owed by 1,600 millionaires with
action continuing in this area. </span></li><li>Elsewhere, the IRS is pursuing
multi-million-dollar partnership balance sheet discrepancies, ramping up audits
of more than 75 of the largest partnerships using artificial intelligence (AI)
as well as <a href="https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxMjgsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3Lmlycy5nb3YvbmV3c3Jvb20vaXJzLXJhbXBzLXVwLW5ldy1pbml0aWF0aXZlcy11c2luZy1pbmZsYXRpb24tcmVkdWN0aW9uLWFjdC1mdW5kaW5nLXRvLWVuc3VyZS1jb21wbGV4LXBhcnRuZXJzaGlwcy1sYXJnZS1jb3Jwb3JhdGlvbnMtcGF5LXRheGVzLW93ZWQtY29udGludWVzLXRvLWNsb3NlLW1pbGxpb25haXJlLXRheC1kZWJ0LWNhc2VzIiwiYnVsbGV0aW5faWQiOiIyMDI0MDIyMS45MDU4MTczMSJ9.qdsgulyN0wmcykm7rLaMnd5Fx_LtYvFyPlzuELZwYaY/s/14456379/br/237471257841-l" style="font-family: times;" target="_blank">other areas</a><span style="font-family: times;">.</span></li></ul><p></p>
<p><span style="font-family: times;">"The IRS continues to increase scrutiny on high-income taxpayers as they work to reverse the historic low audit rates and limited focus that the
wealthiest individuals and organizations faced in the years that predated the
Inflation Reduction Act,” Werfel said. </span></p><p><span style="font-family: times;">“We are adding staff and technology to
ensure that the taxpayers with the highest income, including partnerships,
large corporations and millionaires and billionaires, pay what is legally owed
under federal law. </span><o:p></o:p></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have an IRS Tax Problem?</font></b></p><p class="MsoNormal" style="line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><p style="box-sizing: border-box; margin: 0px; text-align: center;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><br /></span></p><p style="box-sizing: border-box; margin: 0px; text-align: center;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span> </span><span> </span></span><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span><span style="font-size: 18px;"><br /></span></span></span></strong></p><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; font-size: 18px; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; font-family: "times new roman";"><span style="font-size: large;"><font><span style="color: black; 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font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s320/great%20results.jpg" width="320" /></a></div></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p><span style="font-family: times;"><br /></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-82861009688146329672024-02-07T07:11:00.000-08:002024-02-07T07:11:14.111-08:00Funding Boost For The IRS Could Raise $497B<p><span style="font-family: times;"><span style="background-color: white; color: #373739;">The Inflation Reduction Act's investment in the</span><span style="background-color: white; color: #373739;"> </span>Internal Revenue Service<span style="background-color: white; color: #373739;"> </span><span style="background-color: white; color: #373739;">could raise $497 billion over a decade, marking a significant increase over the agency's previous estimates of how much revenue the law's funding boost would generate, the agency said Tuesday.</span></span></p><p><span style="background-color: white; color: #373739; font-family: times;">The IRS' previous estimates suggested that the 2022 law's funding boost would bring in $390 billion in revenue between fiscal years 2024 and 2034, but the agency's old process for estimating revenue was "extremely conservative," according to the </span><strong style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; color: #373739; font-family: times; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><a href="https://drive.google.com/file/d/1_sZa5y696XWKuWcdUn9p8-jdEGGmWlDv/view?usp=sharing" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; box-sizing: border-box; color: #0067b1; margin: 0px; outline: none; padding: 0px; text-decoration-line: none; vertical-align: baseline;">white paper</a></strong><span style="background-color: white; color: #373739; font-family: times;"> </span><span style="background-color: white; color: #373739; font-family: times;">released by the IRS and the U.S. Department of Treasury.</span></p><p><span style="background-color: white; color: #373739; font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="background-color: white; color: #373739; font-family: times;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgSnTKiAv6zyncyFYulCIWCdz2X85W0eaZNFLBYYL_1VI96my1Qa4xuJgCDadjzdxKboTZLEz0JWF1qajgv9F3wh6AZdmdnxYMhJSSkCIX_2JKkGmIRsuCL8UFtiDn_rPyerkHm-RGRf8uU4O0LZ2REI0Sokk43IpcMBlGdlt8mNaJJnR8xw-RGLVv2P0g" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="398" data-original-width="707" height="225" src="https://blogger.googleusercontent.com/img/a/AVvXsEgSnTKiAv6zyncyFYulCIWCdz2X85W0eaZNFLBYYL_1VI96my1Qa4xuJgCDadjzdxKboTZLEz0JWF1qajgv9F3wh6AZdmdnxYMhJSSkCIX_2JKkGmIRsuCL8UFtiDn_rPyerkHm-RGRf8uU4O0LZ2REI0Sokk43IpcMBlGdlt8mNaJJnR8xw-RGLVv2P0g=w400-h225" width="400" /></a></span></div><span style="background-color: white; color: #373739; font-family: times;"><br />According to the agency's new estimates, which take into account direct revenue and the effects of "soft notices" in addition to the effects audits have on taxpayer behavior, the funding boost could raise as much as $497 billion.</span><p></p><p><span style="background-color: white; color: #373739; font-family: times;">The new estimates include the effects of "specific deterrence," which finds that taxpayers who are audited are more likely to be compliant during future years, according to the </span><strong style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; color: #373739; font-family: times; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><a href="https://drive.google.com/file/d/1_sZa5y696XWKuWcdUn9p8-jdEGGmWlDv/view?usp=sharing" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; box-sizing: border-box; color: #0067b1; margin: 0px; outline: none; padding: 0px; text-decoration-line: none; vertical-align: baseline;">white paper</a></strong><span style="background-color: white; color: #373739; font-family: times;">.</span></p><p><span style="background-color: white; color: #373739; font-family: times;">The IRS' previous estimates of the </span>Inflation Reduction Act<span style="background-color: white; color: #373739; font-family: times;">'s revenue effects assumed that the agency would maintain its recent operation practices and that those practices would become less effective as they were scaled up, according to the paper.</span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><b>The New Estimates Consider The Full Range Of Ways That <br />The Technology, Data And Service Improvements Funded <br />By The Inflation Reduction Act Will Increase Revenues.</b></span></p><p><span style="background-color: white; color: #373739; font-family: times;">The new estimates assume that the IRS is sufficiently funded from fiscal year 2024 through fiscal year 2034 in addition to the funding provided by the Inflation Reduction Act, the paper said.</span></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have An IRS Tax Problem</font></b><b style="text-indent: -0.25in;"><font size="5">?</font></b></p><p class="MsoNormal" style="line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><b style="text-indent: -0.25in;"><span style="color: #1a1a1a; 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text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.TaxAid.com</span></span></a><span style="font-family: times, "times new roman", serif;"> or </span></span><span style="color: black;"><a href="http://www.ovdplaw./" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"></span></a><a href="http://www.ovdplaw.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.OVDPLaw.com</span></span></a></span></span><span style="transition-property: all;"><a href="http://www.ovdplaw.comcomor/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"></a></span><span style="font-size: 18px;"><br /><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333; font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p plr-id="179179467-82539723" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"><span style="color: black; font-family: times;"> </span></span></p><p plr-id="178796281-197445843" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;"></span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"></span></p><p plr-id="106206782-47077583" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="background-color: white; color: #373739; font-family: times;"></span></p><div class="separator" style="clear: both; color: #111111; font-size: 18px; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><p><span style="background-color: white; color: #373739; font-family: times;"><br /></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-17183345665687548602024-02-01T06:24:00.000-08:002024-02-01T06:24:47.524-08:00How Not To Handle an IRS Investigation - Taxpayer Convicted of Tax Fraud<p><span style="background-color: white; color: #162e51; font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwrki3rfZXDHLPmlkTTkmwBmFPGgIv2dPuYPgh2r0Lgc3f3X7EGLsgDppbH04bDR5NknMu-_rUcezxKW88LhzhHQJgOX3tx2DR8bq8YTfYXapPPwsjWN7QNo_gG8jZM1bnFQJSkpCMP8bw6fiLOjpmvu1FE2D_dcB64cpwIc05Uh34Or6HW-iUDh2tpyI/s311/IRS%20Audit%20Sign.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="162" data-original-width="311" height="162" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwrki3rfZXDHLPmlkTTkmwBmFPGgIv2dPuYPgh2r0Lgc3f3X7EGLsgDppbH04bDR5NknMu-_rUcezxKW88LhzhHQJgOX3tx2DR8bq8YTfYXapPPwsjWN7QNo_gG8jZM1bnFQJSkpCMP8bw6fiLOjpmvu1FE2D_dcB64cpwIc05Uh34Or6HW-iUDh2tpyI/s1600/IRS%20Audit%20Sign.jpg" width="311" /></a></div><br />This is a perfect example of why the things that taxpayer do during an IRS audit, to cover up past IRS noncompliant, can get you criminally convicted. <span style="font-family: times;">According to the </span><a href="https://www.justice.gov/opa/pr/georgia-precious-metals-dealer-convicted-tax-fraud" style="font-family: times;">DoJ</a><span style="font-family: times;">, a</span><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;"> </span><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;">federal jury in Atlanta convicted Saleem Hakim, 54, of tax evasion and failing to file tax returns on </span><span style="background-color: white; color: #333333; font-family: times; font-size: 14px;">January 31, 2024.</span><p></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;">According to court documents and evidence introduced at trial, from 2011 through 2013, Hakim brokered the sale of precious metals to his clients. Hakim earned more than $1 million in commissions from the sales, which enabled him to fund a lavish lifestyle that included purchases of high-end watches, jewelry, designer accessories and furs. Despite earning substantial income, he did not file income tax returns for tax years 2011 through 2013.</span></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;">The evidence introduced at trial also showed that from 2020 through 2022, Hakim and his wife worked for businesses in Atlanta that bought and sold jewelry and luxury handbags. The Hakims earned a combined income of more than $260,000 for those years yet did not file tax returns. </span></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;">The evidence established that Hakim attempted to hide his and his wife’s income from the IRS by diverting his income into a trust that he established after being initially charged with tax crimes for tax years 2011 through 2013.</span></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;"></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0YzKyhdDNtNRQnsTmlngaKnPD3L4LLxpRwP6BJGiMpnfJxq_1PPmyEdUNuWqgcqgUsdFRT1oazN60Lynr2G0hEf34I2o06LeyXm26Vd4glW-d3VeR6u1GGV5g_43Zr-IugreVpgEYYtek4zgN1JTMmrz6zz1g9xG5UdwOMLo5MzQrGJbAqKmOP5E0k88/s800/Shred%20Records.jpg" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="450" data-original-width="800" height="113" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0YzKyhdDNtNRQnsTmlngaKnPD3L4LLxpRwP6BJGiMpnfJxq_1PPmyEdUNuWqgcqgUsdFRT1oazN60Lynr2G0hEf34I2o06LeyXm26Vd4glW-d3VeR6u1GGV5g_43Zr-IugreVpgEYYtek4zgN1JTMmrz6zz1g9xG5UdwOMLo5MzQrGJbAqKmOP5E0k88/w200-h113/Shred%20Records.jpg" width="200" /></a></div>In addition, Hakim attempted to obstruct the investigation into his tax misconduct for 2020 through 2022. A witness testified that after he received a grand jury subpoena for records relating to income that the witness paid to Hakim and his wife, Hakim drafted a letter for the witness falsely stating he did not have any business records in his possession relating to the Hakims and asked the witness to send the letter. The witness sent the letter to federal prosecutors and IRS agents.<p></p><p style="text-align: center;"><span style="color: #444444; font-family: times;"><b><span style="font-size: large;">Don't Be Cute With The IRS During an IRS Audit!!!</span></b></span></p><p style="text-align: center;"><span style="color: #444444; font-family: times;"><b></b></span></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_VJQuv9JMj5kt9bQwMoRin0kzmq5-zJabCodhz0j3gYRRI2uQyBzcUkDmamoWEZwENIJaSNkI7CtKQTB2e7S-PAkyWyf0tU6lTr9BHHS6Tx_ooKxl5YuRTwQATCJ9_H_5IiUPOo4_xb5mL8ENEZBpr7dfLaQCRkHsiC2PxW1lkGzGhGfQ9QkDkEAXo9M/s300/IRS%20Audit%203.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="168" data-original-width="300" height="168" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh_VJQuv9JMj5kt9bQwMoRin0kzmq5-zJabCodhz0j3gYRRI2uQyBzcUkDmamoWEZwENIJaSNkI7CtKQTB2e7S-PAkyWyf0tU6lTr9BHHS6Tx_ooKxl5YuRTwQATCJ9_H_5IiUPOo4_xb5mL8ENEZBpr7dfLaQCRkHsiC2PxW1lkGzGhGfQ9QkDkEAXo9M/s1600/IRS%20Audit%203.jpg" width="300" /></a></b></div><p></p><p style="text-align: center;"><b style="color: #444444; font-family: times;"><span style="font-size: large;">If You Have A Tax Problem, Hire <br />An Experienced Tax Attorney<br />To Deal With The Civil Tax Issue</span></b></p><p style="text-align: center;"><b style="color: #444444; font-family: times;"></b></p><div class="separator" style="clear: both; text-align: center;"><b style="color: #444444; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQamaQ_IwAB-erm13KFtHHiKBAXLMElE-axMmIsX8GOECSJYP-z2NBHSmcEY9yWWctGRyQXMYIlbobyQL_EapvpRGQ-_bsg6RTCPQ2MSA07mW3cpYh1mHs5ZiptwivrNUPmlp2L10jqxvNJAsE2J8KtLO3DFIQPDM8ODbpEpel29IYrR0e43EfQW1_R6U/s277/Form%201040%20-%20Handcuffs.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="182" data-original-width="277" height="182" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjQamaQ_IwAB-erm13KFtHHiKBAXLMElE-axMmIsX8GOECSJYP-z2NBHSmcEY9yWWctGRyQXMYIlbobyQL_EapvpRGQ-_bsg6RTCPQ2MSA07mW3cpYh1mHs5ZiptwivrNUPmlp2L10jqxvNJAsE2J8KtLO3DFIQPDM8ODbpEpel29IYrR0e43EfQW1_R6U/s1600/Form%201040%20-%20Handcuffs.jpg" width="277" /></a></b></div><b style="color: #444444; font-family: times;"><br /><span style="font-size: large;"><br /><div style="text-align: center;"><b><span style="font-size: large;">So </span></b><span style="color: #444444; font-family: times; font-size: large;"><b>That It Does Not Become <br />A Criminal Tax Issue!</b></span></div></span></b><p></p><p style="text-align: left;"><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;">Sentencing is scheduled for April 30, 2024. Hakim faces a maximum penalty of <b>five years (5) in prison for <u>each</u> tax evasion charge </b>and <b>one year (1) in prison on each failure to file charge</b>. He also faces a period of supervised release, restitution and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.</span></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have an IRS Tax Problem?</font></b></p><p class="MsoNormal" style="line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><p style="box-sizing: border-box; margin: 0px; text-align: center;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><br /></span></p><p style="box-sizing: border-box; margin: 0px; text-align: center;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span> </span><span> </span></span><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span><span style="font-size: 18px;"><br /></span></span></span></strong></p><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; font-size: 18px; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; font-family: "times new roman";"><span style="font-size: large;"><font><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none; text-align: left;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none;"><span style="color: #333333;"><span><span><span style="color: #333333;"><span><span style="color: #333333;"><b><span style="color: #333333;"><span style="color: #333333;"><b><span style="color: #333333;"><span>Marini & Associates, P.A</span><span>.</span></span></b></span></span></b></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span></span></strong></span><strong><span style="color: black; font-family: "times new roman";"> </span></strong></div><p style="-webkit-text-stroke-width: 0px;"></p><p plr-id="148911933-164936248" style="-webkit-text-stroke-width: 0px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="color: #252525; font-family: times;"></span></p><p style="margin: 0in;"><span style="font-family: times;"></span></p><p style="background-color: white; box-sizing: border-box; color: #1b1b1b; margin: 0px 0px 10px;"><span style="font-family: times;"></span></p><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; color: #1a1a1a; font-family: "roboto condensed"; text-align: center;"><div style="font-family: "times new roman";"><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><span style="font-size: xx-small;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s1600/Logo+2017+Bold.jpg" rel="nofollow" style="color: #c51c1c; margin-left: 1em; margin-right: 1em; text-decoration-line: none; transition: all 0.8s ease 0s;"><img border="0" data-original-height="600" data-original-width="600" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s200/Logo+2017+Bold.jpg" style="border: 0px currentcolor; height: auto; max-width: 100%; vertical-align: middle;" width="200" /></a></span></span></div><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><br /></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="font-size: medium;"><span><span><font><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">for a FREE Tax HELP Contact us </span><span style="color: #333333;"><span><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">at:</span></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span><br /><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="font-size: large;"><span style="color: #333333;"><a href="http://www.taxaid.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.TaxAid.com</span></span></a><span style="font-family: times, "times new roman", serif;"> or </span></span><span style="color: black;"><a href="http://www.ovdplaw./" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"></span></a><a href="http://www.ovdplaw.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.OVDPLaw.com</span></span></a></span></span><span style="transition-property: all;"><a href="http://www.ovdplaw.comcomor/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"></a></span><span style="font-size: 18px;"><br /><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333; font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s320/great%20results.jpg" width="320" /></a></div></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-79603209187873767722024-01-30T11:45:00.000-08:002024-01-30T12:13:22.357-08:002024 Treasury Reporting Rules May Be A Shock To Many Beneficial Owners<p><span style="font-family: times;"> </span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVLPOxse6oqiRnIKP8jcgtKUucF2pq6cV2jzNyaxBRokWjd1X8RjJohU2nNjwSwBOfxSCih5qkBhuygAx4AkN0nyBnOjfVewhNPqcwTNNM3r0b4P2OORXg_2AqeRpVXpD2shEE5JejYxWUdsoxf1MRC6GYkDfzyoFylBreObSnk-YLIqOW2xfSWCnxzwM/s297/Beneficial%20Owner%20Information.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="170" data-original-width="297" height="170" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVLPOxse6oqiRnIKP8jcgtKUucF2pq6cV2jzNyaxBRokWjd1X8RjJohU2nNjwSwBOfxSCih5qkBhuygAx4AkN0nyBnOjfVewhNPqcwTNNM3r0b4P2OORXg_2AqeRpVXpD2shEE5JejYxWUdsoxf1MRC6GYkDfzyoFylBreObSnk-YLIqOW2xfSWCnxzwM/s1600/Beneficial%20Owner%20Information.jpg" width="297" /></a></span></div><span style="font-family: times;"><br />According to <a href="https://www.law360.com/tax-authority/federal/articles/1787470?nl_pk=a1de635e-43d3-4fff-8b8e-093575abeb3a&utm_source=newsletter&utm_medium=email&utm_campaign=tax-authority/federal&utm_content=2024-01-22&read_main=1&nlsidx=0&nlaidx=6">Law360</a>, <span style="background-color: white; color: #373739;">a new rule requiring millions of companies to disclose their <b>beneficial owners </b>to the </span>U.S. Department of the Treasury<span style="background-color: white; color: #373739;"> is now in effect, many may not know they are responsible for these reporting obligations.</span></span><p></p><p><span style="background-color: white; color: #373739; font-family: times;">The rules for reporting beneficial ownership information to the Treasury's </span>Financial Crimes Enforcement Network<span style="background-color: white; color: #373739; font-family: times;"> are intended to unmask shell corporations that may be used for financial crimes including money laundering, and they're primarily aimed at smaller companies. The requirements became effective with the new year. </span><span style="background-color: white; color: #373739; font-family: times;">The new reporting requirements could potentially apply to up to 32 million entities. </span></p><span style="font-family: times;"><span style="background-color: white; color: #373739;">Congress enacted the CTA in 2021 as part of the Anti-Money Laundering Act, within the National Defense Authorization Act. Finalized in 2022, the </span><span style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">BOI reporting rule</span><span style="background-color: white; color: #373739;"> requires businesses to submit beneficial ownership information that FinCEN said it will use to create a national database that will help target tax evasion, money laundering and other crimes carried out through shell companies.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /></span><div style="text-align: center;"><span style="background-color: white;"><span style="color: #373739; font-family: times; font-size: large;"><b>FinCEN Has Noted That Beneficial Ownership Information Refers To Identifying Information About The Individuals Who Directly Or Indirectly Control A Company.</b></span></span></div><div style="text-align: center;"><span style="background-color: white;"><span style="color: #373739; font-family: times; font-size: large;"><b><br /></b></span></span></div><div style="text-align: center;"><span style="background-color: white;"><span style="color: #373739; font-family: times; font-size: large;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEim-_xJ_MOYfq1_n-UZrbrWGp6KyuwjtMoz7YgtslWxHEKNFeJDqIPJrrLj_HoFBSinHpYWwR2nAJzMXsgeLSwWQhQKVpVWWlHnMjp63pjZ-Izj82o6lhUQzVonXs3CT-Pgh2f2yWD3Btph1PsHDWe23y-BExv1AXOOt2czyg0bRN2PlW9cJu4PLeRCCAw/s390/Ultimate%20Beneficial%20Owner.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="300" data-original-width="390" height="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEim-_xJ_MOYfq1_n-UZrbrWGp6KyuwjtMoz7YgtslWxHEKNFeJDqIPJrrLj_HoFBSinHpYWwR2nAJzMXsgeLSwWQhQKVpVWWlHnMjp63pjZ-Izj82o6lhUQzVonXs3CT-Pgh2f2yWD3Btph1PsHDWe23y-BExv1AXOOt2czyg0bRN2PlW9cJu4PLeRCCAw/s320/Ultimate%20Beneficial%20Owner.jpg" width="320" /></a></div></span></span></div><div style="text-align: center;"><span style="background-color: white;"><span style="color: #373739; font-family: times;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;">Reporting companies have to report the name, date of birth and residential address of each of their beneficial owners and provide identification such as a passport or driver's license.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">The rule requires companies formed before Jan. 1, 2024, to complete their filings by Jan. 1, 2025. Companies formed during this year will have 90 days to complete their filings.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><div style="text-align: center;"><b style="color: #373739; font-size: x-large;">Individuals Who Willfully Violate The BOI Reporting Requirements May Face Civil Fines Of Up To $500 Per Day That The Violation Continues, Criminal Fines Of Up To $10,000, And Up To Two Years Of Imprisonment, According To FinCEN.</b></div><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Certain "large" companies, which FinCEN defines as those with more than 20 full-time employees in the U.S. and at least $5 million in gross receipts or sales, among other things, are exempt from the BOI reporting requirements.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;">Erin Bryan, co-chair of </span>Dorsey & Whitney LLP's<span style="background-color: white; color: #373739; font-size: 18px;"> consumer financial services group, said companies should figure out whether the beneficial ownership rule's filing requirements apply to them.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">"There are 23 exemption categories, but it is not always obvious whether an exemption applies to a particular company," Bryan said in an email. "Corporate families may even discover that some of their entities qualify for exemptions while others do not."</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Bryan noted that beneficial owners include individuals who own at least 25% of a company and those who have "substantial control" over the company. Companies need to disclose each beneficial owner's name, date of birth and address, and they are required to submit a photo of a government ID.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><div style="text-align: center;"><b style="color: #373739; font-size: x-large;">Bryan Said That In Her Experience, the<br /></b><b style="color: #373739; font-size: x-large;">High-Net-Worth </b><b style="color: #373739; font-size: x-large;">And Foreign Investors Have Been <br /></b><b style="color: #373739; font-size: x-large;">Reluctant To </b><b style="color: #373739; font-size: x-large;">Provide That Kind Of Information, <br />"So The Conversations Should Not Be Left To The Last Minute."</b></div><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">FinCEN has said that companies can avoid penalties if they correct mistakes or omissions in their original reports within 90 days of its filing deadline. But the agency noted companies could face civil and criminal penalties for disregarding BOI reporting obligations.</span></span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><p class="MsoNormal" style="font-family: "Times New Roman"; text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Need Help Filing Your BOI Report?</font></b></p><p class="MsoNormal" style="font-family: "Times New Roman"; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; font-family: "Times New Roman"; text-align: center;"><b><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjl2qMbWTwVIdmYbrdtgx6k4XnYfLdAD-6yNOPAkHj1oE8_yRUPl2JDo0-Qz4JIJIQYnilO0vjs1I37Z1SFay8ciYp59qNrEI-PmNH8-2tMfLtBfUrC0gmeWLyhsDHvTemD4RhXzqVmTbtjCHRr6l1gVilvKqBGlxlHJf0Ed4Ij7uKIhD__jD76wPD7HpM/s255/BOI%20Form.jpg" style="margin-left: 1em; 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font-family: "Times New Roman"; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p style="font-family: "Times New Roman";"><span style="color: #444444; font-family: times; font-size: 16px;"></span></p><p style="font-family: "Times New Roman";"><span style="color: #373739; font-family: times; font-size: 18px;"></span></p><p plr-id="106206782-47077583" style="color: #252525; font-family: "Times New Roman"; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p style="font-family: "Times New Roman";"><span style="font-family: times;"><span style="color: #373739; font-size: 18px;"></span></span></p><p style="font-family: "Times New Roman";"><span style="color: #373739; font-family: times; font-size: 18px;"></span></p><div class="separator" style="clear: both; color: #111111; font-family: "Times New Roman"; font-size: 18px; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><br /></span></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-4252838657574717282024-01-30T11:41:00.000-08:002024-01-30T11:41:14.321-08:00CPA Tech Entrepreneur Charged in Offshore Tax Evasion Scheme <p><span style="font-family: times;"><span style="background-color: white; color: #444444;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><span style="background-color: white; color: #444444;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-JsvTD5dAyL1KLVprwx678lhA7e-X5gIkSeVV3Bi5m6RgNS4foUYpLEhrRn1Gnmu8EG35ni1ZAxB1Oh5OCk98Jrq1FTWCgW0UXMk3w76MLBSrbnGn8mAcNGLf1GQrYbhAzkCyr6Fi9TsBEvUdtDZ5bzWED4VT6sC0MMgWd766Jg6Jrop5IRX-mKQZKMQ/s275/Tax%20Evasion%205.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="183" data-original-width="275" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg-JsvTD5dAyL1KLVprwx678lhA7e-X5gIkSeVV3Bi5m6RgNS4foUYpLEhrRn1Gnmu8EG35ni1ZAxB1Oh5OCk98Jrq1FTWCgW0UXMk3w76MLBSrbnGn8mAcNGLf1GQrYbhAzkCyr6Fi9TsBEvUdtDZ5bzWED4VT6sC0MMgWd766Jg6Jrop5IRX-mKQZKMQ/w200-h133/Tax%20Evasion%205.jpg" width="200" /></a></span></span></div><span style="font-family: times;"><span style="background-color: white; color: #444444;">According to <a href="https://www.justice.gov/opa/pr/tech-entrepreneur-charged-offshore-tax-evasion-scheme">DoJ</a>, an indictment was unsealed in St. Paul, Minnesota, charging a former Excelsior, Minnesota, man with tax evasion, assisting in the preparation of false tax returns and making false statements to federal agents. </span></span><p></p><p><span style="background-color: white; color: #444444; font-family: times;">According to the indictment, from 2014 through 2018, David V. Erickson, a licensed CPA, engaged in a scheme to conceal from the IRS income that he earned abroad by falsely characterizing the funds he received as loans. Erickson allegedly owned and operated Halstead Bay Holdings (HBH), a Minnesota-based consulting company. HBH allegedly received payments from several foreign companies that Erickson partially owned. These foreign companies allegedly provided marketing and payment processing systems for an adult content website.</span></p><p><span style="background-color: white; color: #444444; font-family: times;">Erickson allegedly caused his foreign companies to transfer millions of dollars held offshore to bank accounts in the United States that he controlled. He allegedly directed his bookkeeper and others to falsely characterize those payments as nontaxable loans in HBH’s accounting records. HBH’s purported debt allegedly grew to nearly $5 million by the end of 2018. Erickson allegedly used the funds for personal expenses, including the purchase of a $1.3 million home and a luxury vehicle.</span></p><p><span style="background-color: white; color: #444444; font-family: times;">The indictment further alleges that Erickson provided false information to his accountants and bookkeepers, and, in turn, filed false federal income tax returns with the IRS. Erickson also allegedly lied to IRS Criminal Investigation special agents by claiming he had no authority to direct the foreign companies to send money.</span></p><p><span style="background-color: white; color: #444444; font-family: times;">If convicted, he faces a maximum penalty of <b><i>five years (5) in prison for each tax evasion count </i></b>and for making a false statement to IRS-CI agents and <b><i>three years (3) in prison for each count of assisting in the preparation of false tax returns</i></b>. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.</span></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have an IRS Tax Problem?</font></b></p><p class="MsoNormal" style="line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><p style="box-sizing: border-box; margin: 0px; text-align: center;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><br /></span></p><p style="box-sizing: border-box; margin: 0px; text-align: center;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span> </span><span> </span></span><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span><span style="font-size: 18px;"><br /></span></span></span></strong></p><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; font-size: 18px; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; font-family: "times new roman";"><span style="font-size: large;"><font><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none; text-align: left;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none;"><span style="color: #333333;"><span><span><span style="color: #333333;"><span><span style="color: #333333;"><b><span style="color: #333333;"><span style="color: #333333;"><b><span style="color: #333333;"><span>Marini & Associates, P.A</span><span>.</span></span></b></span></span></b></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span></span></strong></span><strong><span style="color: black; font-family: "times new roman";"> </span></strong></div><p style="-webkit-text-stroke-width: 0px;"></p><p plr-id="148911933-164936248" style="-webkit-text-stroke-width: 0px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="color: #252525; font-family: times;"></span></p><p style="margin: 0in;"><span style="font-family: times;"></span></p><p style="background-color: white; box-sizing: border-box; color: #1b1b1b; margin: 0px 0px 10px;"><span style="font-family: times;"></span></p><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; color: #1a1a1a; font-family: "roboto condensed"; text-align: center;"><div style="font-family: "times new roman";"><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><span style="font-size: xx-small;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s1600/Logo+2017+Bold.jpg" rel="nofollow" style="color: #c51c1c; margin-left: 1em; margin-right: 1em; text-decoration-line: none; transition: all 0.8s ease 0s;"><img border="0" data-original-height="600" data-original-width="600" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s200/Logo+2017+Bold.jpg" style="border: 0px currentcolor; height: auto; max-width: 100%; vertical-align: middle;" width="200" /></a></span></span></div><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><br /></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="font-size: medium;"><span><span><font><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">for a FREE Tax HELP Contact us </span><span style="color: #333333;"><span><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">at:</span></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span><br /><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="font-size: large;"><span style="color: #333333;"><a href="http://www.taxaid.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.TaxAid.com</span></span></a><span style="font-family: times, "times new roman", serif;"> or </span></span><span style="color: black;"><a href="http://www.ovdplaw./" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"></span></a><a href="http://www.ovdplaw.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.OVDPLaw.com</span></span></a></span></span><span style="transition-property: all;"><a href="http://www.ovdplaw.comcomor/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"></a></span><span style="font-size: 18px;"><br /><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333; font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s320/great%20results.jpg" width="320" /></a></div></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-23948375926584409952024-01-30T11:18:00.000-08:002024-02-20T06:37:31.686-08:00Shall I Stay or Shall I Go? - IRS Reports That US Expatriations Jumped Nearly 45% During The Fourth Quarter Of 2023!<p><span style="font-family: times;">On July 21, 2023 we posted <a href="https://www.blogger.com/u/1/blog/post/edit/6398232680738279469/7861609714476938647">Shall I Stay or Shall I Go? - IRS Reports Nearly 55% Increase in US Expatriations In 2nd Quarter of 2023</a> where we discussed that he number of people expatriated from the United States rose nearly 55% during the second quarter of 2023 compared with the previous quarter, the Internal Revenue Service<span style="background-color: white; color: #373739;"> said in a </span><span style="background-color: white; color: #373739;">published</span><span style="background-color: white; color: #373739;"> </span><a href="https://www.federalregister.gov/documents/2023/07/21/2023-15540/quarterly-publication-of-individuals-who-have-chosen-to-expatriate">notice</a><span style="background-color: white; color: #373739;">.</span></span></p><p><span style="font-family: times;">Now <span style="background-color: white; color: #373739;">the </span>Internal Revenue Service<span style="background-color: white; color: #373739;"> said in its <a href="https://www.federalregister.gov/documents/2024/01/29/2024-01648/quarterly-publication-of-individuals-who-have-chosen-to-expatriate">notice</a> that </span>t<span style="background-color: white; color: #373739;">he number of people who expatriated from the U.S. jumped nearly 45% during the fourth quarter of 2023 compared with the previous quarter. </span></span></p><div><span style="font-family: times;"><br /></span></div><div><span face="LatoWeb, Arial, Helvetica, sans-serif" style="background-color: white; color: #373739;"><div style="text-align: center;"><b style="background-color: transparent; font-size: x-large;">The Number Of People Losing Or Renouncing Their U.S. Citizenship Increased to 1145</b><b style="background-color: transparent; font-size: x-large;"> For the 4th Qtr of 2023.</b></div><div style="text-align: center;"><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdweAgHCIHg9heb1IxjpetVU6zCH5q5DPlY6xBnXc8BEk2yBfr9gu4OzAhrNz7GVSU3tjMJZuMnhD6-7u9qa_hgk7aA9rPcK4TSrrBFZt2HC47f5M_JN3_C2dtN7DH181GLOEnz2c9YGcLf7UJuyjD6DD0kNgOAwczqqu0NwpPLTFNDhoBTtj8sqff/s208/Passport%20Expatriate.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="158" data-original-width="208" height="158" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjdweAgHCIHg9heb1IxjpetVU6zCH5q5DPlY6xBnXc8BEk2yBfr9gu4OzAhrNz7GVSU3tjMJZuMnhD6-7u9qa_hgk7aA9rPcK4TSrrBFZt2HC47f5M_JN3_C2dtN7DH181GLOEnz2c9YGcLf7UJuyjD6DD0kNgOAwczqqu0NwpPLTFNDhoBTtj8sqff/s1600/Passport%20Expatriate.jpg" width="208" /></a></div><b style="background-color: transparent; font-size: x-large;">A 45% Increase From The 3rd Quarter of 2023.</b></div></span><div style="text-align: center;"><span face="LatoWeb, Arial, Helvetica, sans-serif" style="background-color: white; color: #373739; font-size: 18px;"><br /></span></div><div><span style="color: #373739;"><span style="font-size: 18px;"><span style="background-color: white; font-family: times;">Included on the list are those who lost U.S. citizenship under Internal Revenue Code</span><span style="font-family: times;"> Section 877(a) </span><span style="background-color: white; font-family: times;">and </span><span style="font-family: times;">Section 877A</span><span style="background-color: white; font-family: times;">, according to the notice, as well as long-term residents who are treated as losing citizenship under </span><span style="font-family: times;">Section 877(e)(2).</span></span></span></div><div><span style="color: #373739;"><span style="font-size: 18px;"><br /></span></span></div><div><span style="color: #373739;"><span style="font-size: 18px;">According to <a href="https://www.cnbc.com/2021/05/18/the-top-reason-why-americans-abroad-want-to-dump-their-citizenship.html">CNBC</a> t</span></span><span style="font-family: times;">he top reason why Americans abroad want to dump their U.S. citizenship include:</span></div><div><div><ul><li><span style="color: #171717; font-family: times;">Nearly 1 in 4 American expatriates say they are “seriously considering” or “planning” to ditch their U.S. citizenship, a survey from Greenback Expat Tax Services finds. </span></li><li><span style="color: #171717; font-family: times;">About 9 million U.S. citizens are living abroad, the U.S. Department of State estimates.</span></li><li><span style="color: #171717; font-family: times;"><b>More than 4 in 10 who would renounce citizenship say it’s due to the burden of filing U.S. taxes, the Greenback poll shows.</b></span></li></ul></div><div><span style="color: #373739;"><span style="font-size: 18px;"><br /></span></span></div><div><span style="color: #373739;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2Tw-zfSeqChCHbHVLt9lO-zXgwf-f98p4pePUcL-tRT1hOWCvhtESiP9SLHUV2ttDk3ztrRSZr2GPBZSSibfhJPSdbfUkZb1Fjugiwy-e3Qlp1x7xYf_3P3IY0UKoiZ5MATnNrkiHZl6BANqvb-8rCwy-f3lQmF9k1Sac-2KSI75Vj4gRCFFtRiKH/s611/Capture.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="342" data-original-width="611" height="224" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj2Tw-zfSeqChCHbHVLt9lO-zXgwf-f98p4pePUcL-tRT1hOWCvhtESiP9SLHUV2ttDk3ztrRSZr2GPBZSSibfhJPSdbfUkZb1Fjugiwy-e3Qlp1x7xYf_3P3IY0UKoiZ5MATnNrkiHZl6BANqvb-8rCwy-f3lQmF9k1Sac-2KSI75Vj4gRCFFtRiKH/w400-h224/Capture.JPG" width="400" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><div align="center" style="color: black; line-height: normal; margin: 0in 0in 0pt;"><strong><span style="font-family: times; font-size: large; mso-fareast-font-family: "Times New Roman";">Should I Stay or Should I Go?</span></strong></div><div align="center" style="color: black; line-height: normal; margin: 0in 0in 0pt;"><strong><span style="font-family: times; font-size: 18pt; mso-fareast-font-family: "Times New Roman";"><br /></span></strong></div><div align="center" style="color: black; line-height: normal; margin: 0in 0in 0pt;"><strong><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7slBYqbsij_dFFrPoS4YJb5z9fMdZhcCXRX0RL6Mn-hqDaXp3fPZxZVjjeCtzbx21ukrMKInOz7691Tio3NplavAnZbaej7SReQekr7DEGrpE7dVakCtCU1b-FgG84BsYpBA7SScEHFg/s308/Leaving+the+United+States.png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="163" data-original-width="308" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg7slBYqbsij_dFFrPoS4YJb5z9fMdZhcCXRX0RL6Mn-hqDaXp3fPZxZVjjeCtzbx21ukrMKInOz7691Tio3NplavAnZbaej7SReQekr7DEGrpE7dVakCtCU1b-FgG84BsYpBA7SScEHFg/s0/Leaving+the+United+States.png" /></a></div></strong><b style="font-family: times;"><span style="mso-fareast-font-family: "Times New Roman";"><div align="center" style="font-size: 18pt; 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font-family: times; font-size: medium;"><br /></span><div align="center" style="color: black; line-height: normal; margin: 0in 0in 5pt;"><div class="separator" style="clear: both;"><strong><span style="font-size: medium;"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: xx-small;"><span style="font-size: small;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Contact the <b>Tax Lawyers </b></span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at</span></span><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"></span></span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="color: #333333; 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mso-fareast-font-family: "Times New Roman";"><span style="font-family: times, times new roman, serif;">or</span><span style="font-family: times new roman, serif;"> </span></span></b></span></span><b style="color: #333333; font-family: times, "times new roman", serif; font-size: large; font-style: inherit; font-variant-caps: inherit; font-variant-ligatures: inherit; text-align: left;">Toll Free at 888-8TaxAid (888) 882-9243</b></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in;" trbidi="on"><b style="color: #333333; font-family: times, "times new roman", serif; font-size: large; font-style: inherit; font-variant-caps: inherit; font-variant-ligatures: inherit; text-align: left;"><br /></b></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in;" trbidi="on"><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0rG4nIg_jmQu0Kv0cKJtYGhTTGCqXB4A4MdX8kKKrQGY08nyPCca3zX4T2_ZBsbK-MVUtPtyZ8p56gJdiQYfeHpJP-30Nni8t85CCxzX1E0U_YA6nWHjdhmQ94m8-gFGfvIk28h8BX4-w7pJJEhk7LyptAjIqu5NWqKh7WZpHx8qmTu2qf0EYJYAy/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj0rG4nIg_jmQu0Kv0cKJtYGhTTGCqXB4A4MdX8kKKrQGY08nyPCca3zX4T2_ZBsbK-MVUtPtyZ8p56gJdiQYfeHpJP-30Nni8t85CCxzX1E0U_YA6nWHjdhmQ94m8-gFGfvIk28h8BX4-w7pJJEhk7LyptAjIqu5NWqKh7WZpHx8qmTu2qf0EYJYAy/s320/great%20results.jpg" width="320" /></a></div><div><br /></div></div></div></div></span></div></div></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-28743743908022720702024-01-30T07:04:00.000-08:002024-01-30T07:04:33.688-08:00Wife Accused Of Promoting Abusive Trust Schemes Must Keep GPS Monitor<p><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhS3WtT5cYqK-4Z7Dup61KML2Pnjv4J-u-zFnGIxzcuqbuTf8o6BOGiq35nYqT3DrkpujOlG0N5cJiW4MCUDnyMr_55o4-Mv5RYVLWCLUJvYM5l0LcUzYX-4Zw2ijtRydyr14mYIE5u_SbfO1wVIiiuntweK-YFqLyGu2LUKpkzmFkwhG8uTyhw4Wq1agY/s1400/ankle%20monitor%20woman.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="1400" data-original-width="1400" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhS3WtT5cYqK-4Z7Dup61KML2Pnjv4J-u-zFnGIxzcuqbuTf8o6BOGiq35nYqT3DrkpujOlG0N5cJiW4MCUDnyMr_55o4-Mv5RYVLWCLUJvYM5l0LcUzYX-4Zw2ijtRydyr14mYIE5u_SbfO1wVIiiuntweK-YFqLyGu2LUKpkzmFkwhG8uTyhw4Wq1agY/w200-h200/ankle%20monitor%20woman.jpg" width="200" /></a></span></div><span style="font-family: times;">According to <a href="https://www.law360.com/tax-authority/federal/articles/1790348?nl_pk=a1de635e-43d3-4fff-8b8e-093575abeb3a&utm_source=newsletter&utm_medium=email&utm_campaign=tax-authority/federal&utm_content=2024-01-29&read_more=1&nlsidx=0&nlaidx=3">Law360</a>, a<span style="background-color: white; color: #373739;"> wife indicted with her husband on tax evasion charges relating to an abusive trust scheme should not be allowed to remove her ankle monitor, the U.S. government told a Colorado federal court, saying her previous tracking devices sustained suspicious damage.</span></span><p></p><span style="font-family: times;"><span style="background-color: white; color: #373739;">Marcia Predmore's GPS monitoring devices have already broken twice since September, when a federal magistrate judge ordered her to start wearing a monitor while she awaits trial on charges that she and her husband illegally avoided paying $2 million in personal income taxes from 2016 to 2021, prosecutors said Thursday. </span></span><div><span style="font-family: times;"><span style="background-color: white; color: #373739;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;">Though Predmore claimed the breakage happened while she was sleeping or putting on shoes, evidence shows the same plastic piece on the device was shattered in more than one place both times, prosecutors said in a </span><span style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">motion</span><span style="background-color: white; color: #373739;"> opposing her request to remove the device.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Predmore, who is 64 and could face roughly five years (5) in prison, is also a flight risk; a fact that hasn't changed since U.S. Magistrate Judge Susan Prose decided after a two-hour hearing that she should wear the monitor, prosecutors said. Predmore has a visa allowing her to work in Dubai and the resources to charter a private plane there, prosecutors said. She and her husband earned an estimated $1.8 million in 2021 and are signatories on at least 14 bank accounts, according to the motion.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Predmore and her husband, Timothy McPhee, have pled not guilty to all the charges in </span><strong style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><a href="https://www.blogger.com/u/1/blog/post/edit/6398232680738279469/5384650740521519051">their indictment</a></strong><span style="background-color: white; color: #373739;">, which was unsealed on September 25, 2023, Where the couple are accused of evading their own taxes using a scheme McPhee and his Texas-based business partner, Larry Conner, are accused in the indictment of peddling to other business community starting in 2017.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-RFTRqx7ZUKkZOcTyJXHAfcaNVVxUXO2ysgs-hT_sLDS_xGmsuceqGJLeeQLkLsSKgPAp8n3nvS-bx14HvqpIlNCnGdaOm3VSavHjRqFVY6DLK3hbv_JgPamvc2IzVHEaObMI35WCP2lcTkHnJBb_vp5BOffykrNe2H5YeHxw72HsOps14iNAyGWwpy0/s1351/Scam%20&%20Form%201040%20-%20AbusiveTrusts.webp" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1351" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh-RFTRqx7ZUKkZOcTyJXHAfcaNVVxUXO2ysgs-hT_sLDS_xGmsuceqGJLeeQLkLsSKgPAp8n3nvS-bx14HvqpIlNCnGdaOm3VSavHjRqFVY6DLK3hbv_JgPamvc2IzVHEaObMI35WCP2lcTkHnJBb_vp5BOffykrNe2H5YeHxw72HsOps14iNAyGWwpy0/w200-h133/Scam%20&%20Form%201040%20-%20AbusiveTrusts.webp" width="200" /></a></div>According to the <a href="https://www.blogger.com/u/1/blog/post/edit/6398232680738279469/5384650740521519051">allegations</a>, McPhee and Conner promoted their strategy at hotel seminars in Colorado, Texas and Mexico, charging customers $25,000 to $50,000 for help diverting their earnings into sham trusts and a purported charitable foundation. McPhee and Conner showed their customers how to use the trusts to hide business income and illegally deduct personal expenses such as family weddings, the indictment said. </span><span style="background-color: white; color: #373739;">Conner pled not guilty to the charges, which include conspiracy to defraud the government, in October.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Prosecutors criticized Predmore's efforts before the court to characterize her tax evasion charges as the result of co-signing returns with her husband. Predmore is facing six felony charges of willful tax evasion, partly because she hosted and attended the hotel seminars, which were run through a business she co-owned with her husband, they said.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfYvGCDVaCAZ1S0iLNCV3__k4P0wr83NGcDUQ5VCtEADevIOEnJzYf4l33ZKLHZ8YPOgr2JAU2NmXBsJQY8QcFNZq-cyDG6r7xeuRpzz0573ybmhOBkCGg6tNjMo8RiqHdryhdLUlAmqsZj5urT17gWatE9Pa5B8WwSds3En3_GvPoq3v4_FL5kzm11SA/s225/Abusive%20Trusts.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="225" data-original-width="225" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgfYvGCDVaCAZ1S0iLNCV3__k4P0wr83NGcDUQ5VCtEADevIOEnJzYf4l33ZKLHZ8YPOgr2JAU2NmXBsJQY8QcFNZq-cyDG6r7xeuRpzz0573ybmhOBkCGg6tNjMo8RiqHdryhdLUlAmqsZj5urT17gWatE9Pa5B8WwSds3En3_GvPoq3v4_FL5kzm11SA/w200-h200/Abusive%20Trusts.jpg" width="200" /></a></div>"She knew how the tax shelter worked, and she knew that the </span>IRS<span style="background-color: white; color: #373739;"> published guidance on abusive trusts," prosecutors said. "This is not a case in which one spouse manipulated the other. Nor is this a case in which one spouse kept the other in the dark."</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Predmore and her husband created four trusts and paid personal expenses from bank accounts they opened for each trust, according to their indictment. They also transferred multiple real estate properties into one of the trusts before selling, according to the charges.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Predmore, calling herself "a nonviolent grandmother, wife, mother and business person," asked the court on January 17, 2023, to remove the ankle monitor, saying that it was unnecessary and that she had "suffered significant problems" with it.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">The device broke twice, once when she was putting on her shoes and another time while she was sleeping, she said. Both times she notified the authorities and drove more than an hour to Denver from her home in Estes Park, Colorado, to get a new one.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">The government's fear that she would flee the country is "mere speculation and conjecture," she said. She can't travel to Dubai without her passport, which she has already surrendered. And the fact that she had permission to work in the country, where she intended to sell life insurance, doesn't suggest that "she would uproot herself from their chosen home community, family, friends, church and neighbors to live on the other side of the planet," she said.</span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;">Prosecutors said that her stories about the damage to the ankle monitor didn't add up, even though a failure analysis performed by the manufacturer showed no visible evidence of tampering. That same analysis observed a broken strap attachment and missing pins, prosecutors said.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">Photographs of the broken devices are inconsistent with her explanations and conflict with what she told the court, they said. Predmore initially told authorities that the ankle bracelet fell apart and fell off her leg when she tried to charge the device. Furthermore, when probation authorities asked Predmore why the device had broken a second time, she said perhaps lotion applied to the area could have broken it.</span><br style="background-color: white; box-sizing: border-box; color: #373739;" /><br style="background-color: white; box-sizing: border-box; color: #373739;" /><span style="background-color: white; color: #373739;">"It seems highly unlikely that this damage occurred either when she placed the device on the charger, while she was putting on her shoes, after applying lotion to the area of the device, or during her sleep," prosecutors told the court.</span></span><br style="background-color: white; box-sizing: border-box; color: #373739; font-family: LatoWeb, Arial, Helvetica, sans-serif; font-size: 18px;" /></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739;"><p class="MsoNormal" style="color: black; 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color: black; font-family: "Times New Roman"; text-align: center;"><b style="text-indent: -0.25in;"><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;"><br /></span></span></strong></b></div><div class="separator" style="clear: both; color: black; font-family: "Times New Roman"; text-align: center;"><b style="text-indent: -0.25in;"><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span></span></span></strong></b></div><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; font-size: 18px; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; 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font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><div><span style="font-family: times;"><br /></span></div></span></span></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-53846507405215190512024-01-30T07:03:00.000-08:002024-01-30T12:05:03.175-08:00Two Men Indicted On Charges Of Peddling Abusive Trusts<p><span style="font-family: times;"><span style="background-color: white; color: #373739;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOSs4T3bVOOFWb2BS9cEWBqJmOptwx5NdyOQFfxlYBTtqLUmHV6zEMm50eqRJKWwNOAPkI4P6VtEq-_XwTcY_BwGNkYe80iqMFAjwIwCVsqtMJQrLOn4QB2xt0lR_knBHlU8HTP_fDiJbmxQ2lIw-rvy4ZGdz6uoiYD9R8XhJ_SrXT-JbnVvhhzuHVif0/s225/Abusive%20Trusts.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="225" data-original-width="225" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhOSs4T3bVOOFWb2BS9cEWBqJmOptwx5NdyOQFfxlYBTtqLUmHV6zEMm50eqRJKWwNOAPkI4P6VtEq-_XwTcY_BwGNkYe80iqMFAjwIwCVsqtMJQrLOn4QB2xt0lR_knBHlU8HTP_fDiJbmxQ2lIw-rvy4ZGdz6uoiYD9R8XhJ_SrXT-JbnVvhhzuHVif0/w200-h200/Abusive%20Trusts.jpg" width="200" /></a></span></div><span style="font-family: times;">According to <a href="https://www.law360.com/tax-authority/articles/1725657">Law360</a>, two men promoted and sold abusive tax shelters for the last six years by instructing their clients to use sham trusts to hide business income and illegally deduct personal expenses such as family weddings, according to an indictment in a Colorado federal court in the case of <span style="background-color: white; color: #373739;">U.S. v. Conner et al., case number </span>1:23-cr-00390<span style="background-color: white; color: #373739;">, in the </span>U.S. District Court for the District of Colorado<span style="background-color: white; color: #373739;">.</span></span><p></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739;">Larry Conner, who operated The Business Solutions Group from his home in Frisco, Texas, and Timothy McPhee, who operated Private Banking Concepts from his home in Estes Park, Colorado, </span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; color: #373739; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">told their clients</span><span style="background-color: white; color: #373739;"> the trust arrangement was legal, according to the indictment, unsealed On September 25, 2023.</span></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">The pair were charged with conspiring to defraud the government and multiple counts of helping clients prepare false tax returns. McPhee and his wife, Marcia Predmore, were also charged with evading their own federal income taxes by employing the abusive trust structure that McPhee is accused of promoting. McPhee and Predmore pled not guilty in Colorado federal court.</span></span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><b>The Indictment Said Conner And McPhee Peddled The <br />Tax Avoidance Strategy At Hotel Seminars Throughout Colorado And Texas Starting In 2017. Conner Also Taught Three "Advanced Workshops" On The Method In Cabo San Lucas, Mexico, From 2018 To 2019, The Indictment Said.</b></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">An email promotion for one Colorado seminar promised that attendees, who were typically charged attendance fees, would learn "how to recapture the money that is leaving your household never to be seen again without having to earn more," according to the indictment.</span></span></p><p style="text-align: center;"><span style="color: #373739; font-family: times;"><b><span style="font-size: large;">Conner And McPhee Charged Their Clients, Most Of </span><br /><span style="font-size: large;">Whom Were Business Owners, A Fee Of $25,000 To $50,000 </span><br /><span style="font-size: large;">In Exchange For Helping Them Fraudulently Divert Nearly </span><br /><span style="font-size: large;">All Of Their Income Through A Series Of Sham Trusts And </span><br /><span style="font-size: large;">A Purported Charitable Foundation To Avoid Paying Taxes, </span><br />The Indictment Said.</b></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0kh6HluT-8l13rgQJHzYpMo-UzMdpbMHCKohn7zdj7NKkF2XLLQlRqxXjwZ16YQxmX0qsuzy2UmQ_B1VqsFlCQMMIovvLrdVx6Vqgv_pvhrdTvh-5iEiio411SgOpPgziseU2-BcdQlbBN8adw0jqhYN1Wf2GWpMJQOilQsicAXed5ZT8o1iR0GFGWRg/s1351/Scam%20&%20Form%201040%20-%20AbusiveTrusts.webp" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1351" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0kh6HluT-8l13rgQJHzYpMo-UzMdpbMHCKohn7zdj7NKkF2XLLQlRqxXjwZ16YQxmX0qsuzy2UmQ_B1VqsFlCQMMIovvLrdVx6Vqgv_pvhrdTvh-5iEiio411SgOpPgziseU2-BcdQlbBN8adw0jqhYN1Wf2GWpMJQOilQsicAXed5ZT8o1iR0GFGWRg/w200-h133/Scam%20&%20Form%201040%20-%20AbusiveTrusts.webp" width="200" /></a></span></div><span style="font-family: times;">The pair instructed clients to assign legitimate business income to a sham "business trust" to create the appearance that the client hadn't earned the income, the indictment said. That trust then distributed its income to a second sham trust, which distributed it to a third sham trust, according to the indictment.</span><p></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">"Each trust in the series reported deductions matching or exceeding its income, and the third sham trust purportedly 'donated' any remaining income to a private family foundation, which in turn 'loaned' the funds back to the client's business or business trust, tax free," the indictment said.</span></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">Conner and McPhee told clients to pay for personal expenses, including mortgage payments, dining costs and weddings, with money held in the trusts, the indictment said. They also told their clients to direct assets including real estate and vehicles to the trusts to avoid the appearance of ownership and to avoid paying income taxes on capital gains from selling the assets, according to the indictment.</span></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">Further, Conner and McPhee referred their clients to tax preparers and accountants who prepared financial documents consistent with the abusive strategy, the indictment said. One bookkeeper and tax preparer teamed up to market their services to Conner and McPhee's clients, according to the indictment.</span></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">The fraudulent federal tax filings cost the government tens of millions of dollars in tax losses, the indictment said.</span></span></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739;">Conner and McPhee went to lengths to convince their clients the tax avoidance strategy was legal, the indictment said, circulating their own materials responding to </span>Internal Revenue Service<span style="background-color: white; color: #373739;"> warnings about abusive trust tax-evasion schemes. They also criticized outside accountants who questioned the legality of their strategy, saying the accountants "simply did not understand it," according to the indictment.</span></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">A government agent posing as a potential client caught McPhee in February 2022 when he agreed to meet her at a restaurant in Colorado and detailed how the shelter illegally circumvented taxes, according to the indictment.</span></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">"McPhee explained that there was '[n]o limitations whatsoever at all' on how a taxpayer could spend the money held in a trust and said that all the money spent from a trust bank account, for example on a pool, car, meals, gifts, entertainment, or home renovations, is a deduction," the indictment said.</span></span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><b>In An Earlier Videoconference With The Agent, McPhee <br />Said He Knew Of A Structure To Reduce Her Tax Liability <br />By 95% To 98%, According To The Indictment.</b></span></p><p><span style="background-color: white; color: #373739;"><span style="font-family: times;">McPhee and his wife used the abusive trust arrangement to conceal their own income from the government, the indictment said, creating four trusts and opening bank accounts for each and using them to pay personal expenses. The couple transferred multiple real estate properties to one of the trusts before selling, according to the indictment.</span></span></p><div><span style="font-family: times;"><span style="background-color: white; color: #373739;"><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; text-align: center;"><b style="text-indent: -0.25in;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span><b style="color: black; font-family: "Times New Roman"; font-size: medium; text-indent: -0.25in;"><font size="5">Have An Abusive Trust?</font></b></span></span></b></p><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; font-size: 18px; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiql9jiOTN6BwCAr0qPQksnIpsaeMlWIYJlFtUcnP4Il0YG7xPmtTwSls80G5M-9dqfdRpMlKLHB3gTb2JdG6QwNH7Jb3Iy7HrU6UhbJibfidE9ZN-e14QWKNOwJKSX-wLRAKlJHjW9LBjccaGMUW2YZ4-z2fJfY6EQjN6dNTYbDcHXIcC1JxVQ4ECiOwo/s225/Abusive%20Trusts.jpg" imageanchor="1" style="margin-left: 1em; 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color: #111111; font-family: "Times New Roman"; font-size: 18px; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><div style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="font-family: times;"><br /></span></div></span></span></div><div><span style="font-family: times;"><br /></span></div><p><span style="background-color: white; color: #373739;"><span style="font-family: times;"><br /></span></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-5050087831464256822024-01-25T10:35:00.000-08:002024-01-25T11:11:33.055-08:00Prepare Now For New Beneficial Ownership Reporting Requirements<p>
<u5:p></u5:p></p><p class="MsoNormal" style="line-height: 16.5pt;"><span style="color: #3c3c3c;"><span face="Arial, sans-serif" style="font-size: 10.5pt;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span face="Arial, sans-serif" style="font-size: 10.5pt;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje1nsht9CcwnPMgfyXUAS4Ft-W815pccIfX1BucLb5DN2j4D829qEnbrvc6hIN2ju9_EKSUIi6av74QWcCGUcgCjeG-AZLfVRCO1ys9Yo0qjyfJV04LPCfXLL9_QehvWGolgWqmzU57sgc6uTsPXGKkKJT3GEc07d1r8iazHjB6xyaRwfRB3g6nETyQ_4/s297/Beneficial%20Owner%20Information.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="170" data-original-width="297" height="170" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje1nsht9CcwnPMgfyXUAS4Ft-W815pccIfX1BucLb5DN2j4D829qEnbrvc6hIN2ju9_EKSUIi6av74QWcCGUcgCjeG-AZLfVRCO1ys9Yo0qjyfJV04LPCfXLL9_QehvWGolgWqmzU57sgc6uTsPXGKkKJT3GEc07d1r8iazHjB6xyaRwfRB3g6nETyQ_4/s1600/Beneficial%20Owner%20Information.jpg" width="297" /></a></span></div><span face="Arial, sans-serif" style="font-size: 10.5pt;"><br />Starting January 1, 2024, many
business entities will be required to report information to the U.S.<br />government
about who ultimately owns or controls them, including the business’ owners and
officers. This new beneficial ownership information (BOI) reporting requirement
is part of the Corporate Transparency Act (CTA), which aims to help law
enforcement combat financial crime and protect the U.S. financial system from
bad actors. </span><br />
<br /><span face="Arial, sans-serif" style="font-size: 10.5pt;">
The CTA is part of the Bank Secrecy Act, a set of federal laws that govern financial
transactions. As the CTA is not part of the tax code, BOI reports will not be
filed with the IRS, but with the Financial Crimes Enforcement Network (FinCEN),
an agency of the Department of Treasury. </span><br /><br />
<strong style="font-family: Arial, sans-serif; font-size: 10.5pt;">Which entities are
required to comply?</strong> <br />
<br /><span face="Arial, sans-serif" style="font-size: 10.5pt;">
Entities organized in the U.S. and outside the U.S. may be subject to the CTA’s
reporting requirements. Companies required to report under the CTA (a
“Reporting Company”) include but are not limited to corporations, limited
liability companies (LLCs), and other U.S.-registered entities, including many
small and medium-sized businesses. Foreign companies required to report may
include corporations, limited companies or similar entities formed under the
laws of a foreign country and registered to do business in any U.S. state or
tribal jurisdiction. However, there are several categories of exemptions under
the Act (see the links below for more information). </span><br />
<br />
<strong style="font-family: Arial, sans-serif; font-size: 10.5pt;">What information needs to
be reported?</strong> <br />
<br /><span face="Arial, sans-serif" style="font-size: 10.5pt;">
Companies must report the full name of the Reporting Company, any trade name or
doing business as name, business address, state or Tribal jurisdiction of
formation, and an IRS taxpayer identification number. Additionally, information
on the entity’s Beneficial Owners and for new entities, the company applicants,
is required. </span><br />
<br /><span face="Arial, sans-serif" style="font-size: 10.5pt;">
A “Beneficial Owner” is any individual who, directly or indirectly, either: a)
Exercises “substantial control” over a reporting company, or b) owns or
controls at least 25 percent of the ownership interests of a reporting company.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBc1Zep4VA208RjKLLQGY2NmTXqM3MA5Wcda2Axd-cVkJWSNPKXM_RHk_VNWAkHkHiwN0rnmKr1tALhsMUCbHT-M_u-t9mJffLECMMFDP4KWJ_6yHp6ayyaqj8V-z8TeUI7kNKP1HjwNtfixU788iIYhztB_1N7gLXzmLDMoaKEcI6qx0R7oOZyc-JCgg/s655/BOI%20Substantial_Control.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="655" data-original-width="612" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhBc1Zep4VA208RjKLLQGY2NmTXqM3MA5Wcda2Axd-cVkJWSNPKXM_RHk_VNWAkHkHiwN0rnmKr1tALhsMUCbHT-M_u-t9mJffLECMMFDP4KWJ_6yHp6ayyaqj8V-z8TeUI7kNKP1HjwNtfixU788iIYhztB_1N7gLXzmLDMoaKEcI6qx0R7oOZyc-JCgg/w374-h400/BOI%20Substantial_Control.jpg" width="374" /></a></div><br />
</span><br /><span face="Arial, sans-serif" style="font-size: 10.5pt;">A “Company Applicant” refers to the individual who filed the document that
created or registered the company. The Company Applicant must only be disclosed
for reporting companies created or registered on or after January 1, 2024. </span><br />
<br />
<strong style="font-family: Arial, sans-serif; font-size: 10.5pt;">When is the deadline to
comply?</strong> <br />
<br /><span face="Arial, sans-serif" style="font-size: 10.5pt;">
A reporting company created or registered to do business before January 1,
2024, will have until January 1, 2025, to file its initial beneficial ownership
information report. A reporting company created or registered on or after
January 1, 2024 and before January 1, 2025 will have 90 days to file. </span><br />
<br />
<strong style="font-family: Arial, sans-serif; font-size: 10.5pt;">What are the penalties for
non-compliance?</strong> <br />
<br /><span face="Arial, sans-serif" style="font-size: 10.5pt;">
Penalties for non-compliance can be significant, resulting in criminal or civil
fines and/or imprisonment. Not filing reports timely can result in a $500 per
day penalty, up to $10,000, and imprisonment of up to two years. </span><br />
<br />
<strong style="font-family: Arial, sans-serif; font-size: 10.5pt;">Where can I learn more? </strong><br />
<br /><span style="font-family: arial;">
For more information, visit the </span><span style="font-family: arial;"><a href="https://lnks.gd/l/eyJhbGciOiJIUzI1NiJ9.eyJidWxsZXRpbl9saW5rX2lkIjoxNzAsInVyaSI6ImJwMjpjbGljayIsInVybCI6Imh0dHBzOi8vd3d3LmZpbmNlbi5nb3YvbmV3cy9uZXdzLXJlbGVhc2VzL3VzLWJlbmVmaWNpYWwtb3duZXJzaGlwLWluZm9ybWF0aW9uLXJlZ2lzdHJ5LW5vdy1hY2NlcHRpbmctcmVwb3J0cyIsImJ1bGxldGluX2lkIjoiMjAyNDAxMDUuODgwNTIyMjEifQ._ELPllnvH7FadbQjif7f5aUF5-obk5qzHaWO6wAt44k/s/14456379/br/234330704546-l" target="_blank">beneficial
ownership information</a> (BOI) <span style="color: #3c3c3c;">and </span><a href="https://www.fincen.gov/boi-faqs" target="_blank">Frequently Asked Questions</a></span><span style="color: #3c3c3c;"><span style="font-family: arial;">.</span></span><span style="font-family: arial;">on the U.S. Department of the Treasury’s Financial Crimes Enforcement Network's (FinCEN) webpage. </span><span style="color: #3c3c3c;"><br />
<br /><div style="text-align: center;"><b><em><span face="Arial, sans-serif" style="font-size: 9pt;">Disclaimer: The information contained herein is for
informational purposes and should not be relied upon or construed as tax or
legal advise, generally, nor regarding any specific issue or factual
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<u5:p></u5:p><u5:p></u5:p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-23632441174431289912024-01-10T06:16:00.000-08:002024-01-10T06:16:49.691-08:00Tax Shelter Promoters Sentenced to 25 Years and 23 Years in Billion-Dollar Syndicated Conservation Easement Tax Scheme<p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDgj1phXS1Djf2Nk0O-9D2z6vLhuhgg3p8laObZsfQoF6o40k4JKtmREB6Ekj_aDmLC85309TtU90NphsIW5NWgeATUHSZqAzdVixHgJwOTf0m8P-5o66W4j7MwcMTVB0MIq-Dm3tb_DsSvem3Wn58bN2WkdZJR2TreN2uamMs8JChxhekuM-bOnN5jIk/s959/conservation%20easement.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="959" data-original-width="696" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgDgj1phXS1Djf2Nk0O-9D2z6vLhuhgg3p8laObZsfQoF6o40k4JKtmREB6Ekj_aDmLC85309TtU90NphsIW5NWgeATUHSZqAzdVixHgJwOTf0m8P-5o66W4j7MwcMTVB0MIq-Dm3tb_DsSvem3Wn58bN2WkdZJR2TreN2uamMs8JChxhekuM-bOnN5jIk/w145-h200/conservation%20easement.jpg" width="145" /></a></span></span></div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;">An accountant blamed by federal prosecutors for pioneering the use of conservation easements as illegal tax shelters was sentenced to 25 years in prison January 9, 2024 following his conviction on all counts of a $1.3 billion tax fraud scheme that drew the first criminal prosecution of its kind.</span></span><p></p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;">Jack Fisher, a 71-year-old certified public accountant who once worked for the </span>Internal Revenue Service<span style="background-color: white; color: #373739; font-size: 18px;"> and PwC, would be 96 by the time he is released under the sentence announced by the </span><a href="https://www.justice.gov/opa/pr/two-tax-shelter-promoters-sentenced-25-years-and-23-years-billion-dollar-syndicated" style="background: rgb(255, 255, 255); box-sizing: border-box; color: #0067b1; font-size: 18px; margin: 0px; outline: none; padding: 0px; text-decoration-line: none; vertical-align: baseline;">U.S. Department of Justice</a><span style="background-color: white; color: #373739; font-size: 18px;">. Fisher's co-conspirator, attorney James Sinnott, 52, was also sentenced Tuesday and will serve 23 years in prison, the DOJ said.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">The sentencing judge, U.S. District Judge Timothy C. Batten Sr., gave each man five years less than federal prosecutors asked for, but far more than Fisher and Sinnott requested. Fisher who </span><span style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">told the court </span><span style="background-color: white; color: #373739; font-size: 18px;">that his health was so poor any sentence meant life in prison said he deserved no more than five years behind bars.</span></span><div><span style="font-family: times;"><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">Judge Batten ordered Fisher to pay $458 million in restitution to the U.S. and Sinnott $444 million, the DOJ said.</span></span></div><div><div><span style="font-family: times;"><br /></span></div><div style="text-align: center;"><span style="font-family: times;"><b><span style="font-size: large;">“Today’s Message Should Be A Clear One: IRS CI Special Agents Will Use Their Financial Investigative Expertise To Hold Those Involved In </span><u style="font-size: x-large;">Abusive Tax Shelter Schemes</u><span style="font-size: large;"> Accountable,” <br /></span>Said Chief Jim Lee Of IRS Criminal Investigation (IRS CI).</b></span></div></div><div><span style="font-family: times;"><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">Fisher and Sinnott </span><strong style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><a href="https://www.justice.gov/opa/pr/two-tax-shelter-promoters-sentenced-25-years-and-23-years-billion-dollar-syndicated" style="background: transparent; box-sizing: border-box; color: #0067b1; margin: 0px; outline: none; padding: 0px; text-decoration-line: none; vertical-align: baseline;">were convicted</a></strong><span style="background-color: white; color: #373739; font-size: 18px;"> of conspiracy and filing false returns in September following a nine-week trial, after which Fisher was additionally convicted of money laundering. </span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><br /></span></span></div><div><div style="text-align: center;"><b style="color: #373739; font-family: times; font-size: x-large;">Fisher Illegally Sheltered $450 Million In Taxes <br />While Eluding Numerous IRS Civil Audits And A Senate <br />Finance Committee Investigation Into So-Called <br />Syndicated Conservation Easement Tax Schemes.<br /><br /></b></div><div style="text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpNKY1QhKbagThsG3Cmk81wN8rXOk9Wvv6r9hJ5aGjpxagtWqD62IZwKmmcOPxdt3FwmKi_fLIA3tN0h-lqTZJb0EWXmwC7XEgv0I5MG85kjYSIbPHPzRivw7wtnOOAJfZ0WhdeSFLIy2X70MDMu21sx6qL7_EYOiBZPO66N7Q190VyRuQ5SZx8ScL4Ow/s318/conservation%20easement%202.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="159" data-original-width="318" height="159" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpNKY1QhKbagThsG3Cmk81wN8rXOk9Wvv6r9hJ5aGjpxagtWqD62IZwKmmcOPxdt3FwmKi_fLIA3tN0h-lqTZJb0EWXmwC7XEgv0I5MG85kjYSIbPHPzRivw7wtnOOAJfZ0WhdeSFLIy2X70MDMu21sx6qL7_EYOiBZPO66N7Q190VyRuQ5SZx8ScL4Ow/s1600/conservation%20easement%202.jpg" width="318" /></a></div><b style="color: #373739; font-family: times; font-size: x-large;"><br /></b></div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;">"He was the face of these tax shelters and spearheaded the growth of an industry saturated with fraud," prosecutors said Friday in their sentencing memo for Fisher.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">For more than a decade starting in 2007, Fisher used his training as a CPA to create and sell tax deductions for conservation easement donations, netting wealthy clients $4 in deductions for every $1 they invested in partnerships he created to donate the easements, mostly to environmental charities, prosecutors said.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">He aggressively marketed the shelters and hand-picked real estate appraisers who inflated values to drive up the amount of the deductions, prosecutors said. </span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;">In an audio recording presented at trial, Fisher said the property values were typically inflated by 30%, according to court documents. An appraiser who testified at the trial said some values were inflated by more than 100%, prosecutors said.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">Fisher hired Sinnott to help him in 2013, and in their first year the deductions soared higher than the previous 10 rounds of donations combined, prosecutors said.</span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"> Fisher began recruiting financial advisers and accountants and paying them commissions to sell the illegal shelters to their clients, according to prosecutors.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">Fisher said that his flaw was surrounding himself with experts in land value, finance and taxes, he said, all of whom advised him that his shelters were not illegal.</span></span></div><div><span style="font-family: times;"><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">Walter Roberts II, an appraiser who was accused of helping Fisher prepare 18 false appraisals, </span><span style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">was sentenced</span><span style="background-color: white; color: #373739; font-size: 18px;"> in November to a year in prison after he pled guilty and then testified against Fisher and Sinnott for more than two days at trial. Another appraiser accused of falsifying his work in the deductions scheme, Clay Weibel, went to trial alongside Fisher and Sinnott and was exonerated.</span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><br /></span></span></div><div><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have An IRS Tax Problem</font></b><b style="text-indent: -0.25in;"><font size="5">?</font></b></p><p class="MsoNormal" style="color: black; font-family: "Times New Roman"; font-size: medium; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; 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color: #111111; font-family: "Times New Roman"; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><div style="color: black; font-family: "Times New Roman"; font-size: medium;"><span style="font-family: times;"><br /></span></div></span></span></div><div><span style="font-family: times;"><br /></span></div><div><span style="font-family: times;"><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br /></span></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-25450702663880492072024-01-09T13:19:00.000-08:002024-01-09T13:19:57.007-08:00Empire' Star Owes $903K in Taxes, Penalties & Interest<p><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRVQ1taWW0iG8y-b3J9HfI-YHuPg97QX6MScaGzis37Z8LM8BpPn1kQ4KuHW31VFU-vNl6BvDHooF1kzCV3RTUkb5cQMSCUPNWEShC-VTETLrpFKYG-H4W-SKCqcRdgiipXxUiUxAY3xK3k12pjI6WYxaoLtyLzEkoxTDj6Vr8e8kfhCjuW7hv4J9Ohjk/s228/download%20(21).jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="158" data-original-width="228" height="158" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjRVQ1taWW0iG8y-b3J9HfI-YHuPg97QX6MScaGzis37Z8LM8BpPn1kQ4KuHW31VFU-vNl6BvDHooF1kzCV3RTUkb5cQMSCUPNWEShC-VTETLrpFKYG-H4W-SKCqcRdgiipXxUiUxAY3xK3k12pjI6WYxaoLtyLzEkoxTDj6Vr8e8kfhCjuW7hv4J9Ohjk/s1600/download%20(21).jpg" width="228" /></a></span></div><span style="font-family: times;">According to <a href="https://www.law360.com/tax-authority/federal/articles/1783386?nl_pk=a1de635e-43d3-4fff-8b8e-093575abeb3a&utm_source=newsletter&utm_medium=email&utm_campaign=tax-authority/federal&utm_content=2024-01-09&read_main=1&nlsidx=0&nlaidx=7">Law360</a>, t</span><span style="color: #373739; font-family: times; font-size: 18px;">he U.S. government </span><span style="color: #373739; font-family: times; font-size: 18px;">told a Pennsylvania federal court</span><span style="color: #373739; font-family: times; font-size: 18px;"> on January 8, 2024, that it </span><span style="color: #373739; font-family: times; font-size: 18px;">should be allowed to collect on $903,000 in unpaid tax liabilities of the "Empire" television show actor Terrence Howard. </span><p></p><p><span style="color: #373739; font-family: times; font-size: 18px;">Howard has yet to formally respond to a December 2022 complaint, the U.S. government argued in a</span><span style="color: #373739; font-family: times; font-size: 18px;"> </span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; color: #373739; font-family: times; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">motion for default judgment</span><span style="color: #373739; font-family: times; font-size: 18px;">, with his lone attempt being leaving a voicemail for government counsel.</span></p><p><span style="color: #373739; font-family: times; font-size: 18px;">According to the</span><span style="color: #373739; font-family: times; font-size: 18px;"> </span><strong style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; border: 0px; box-sizing: border-box; color: #373739; font-family: times; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><a href="https://assets.law360news.com/1783000/1783386/https-ecf-paed-uscourts-gov-doc1-153120864099.pdf" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; box-sizing: border-box; color: #0067b1; margin: 0px; outline: none; padding: 0px; text-decoration-line: none; vertical-align: baseline;">complaint</a></strong><span style="color: #373739; font-family: times; font-size: 18px;">, Howard owes more than $550,000 in unpaid income taxes alone after failing to fulfill his liabilities for the 2010, 2011, 2016, 2017 and 2019 tax years, plus applicable penalties and interest.</span></p><p><span style="color: #373739; font-family: times; font-size: 18px;">Initial attempts to serve the complaint were unsuccessful until it was personally received by Howard's spouse at his California residence in July after multiple extensions, according to court records. </span></p><p><span style="color: #373739; font-family: times; font-size: 18px;">Howard was again served in October, but failed to respond by the court-imposed deadline. Default was ultimately entered against the actor in December.</span></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have An IRS Tax Problem</font></b><b style="text-indent: -0.25in;"><font size="5">?</font></b></p><p class="MsoNormal" style="line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><b style="text-indent: -0.25in;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span> </span><span> </span></span><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span></span></span></strong></b></div><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; font-size: 18px; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; font-family: "times new roman";"><span style="font-size: large;"><font><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: black; 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font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p plr-id="179179467-82539723" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"><span style="color: black; font-family: times;"> </span></span></p><p plr-id="178796281-197445843" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;"></span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"></span></p><p plr-id="106206782-47077583" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"></span></span></p><p><span style="color: #373739; font-family: times; font-size: 18px;"></span></p><div class="separator" style="clear: both; color: #111111; font-size: 18px; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><div><span style="font-family: times;"><br /></span></div><p><span style="color: #373739; font-family: times; font-size: 18px;"><br /></span></p><p><span style="color: #373739; font-family: times; font-size: 18px;"><br /></span></p><p><span style="color: #373739; font-family: times; font-size: 18px;"><br /></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-19445419546413196652024-01-09T11:13:00.000-08:002024-01-09T11:13:24.892-08:00SCOTUS Not Review Partnership's $35.5M Late Filed Loss With RA As Not Filed<p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqiHn0S_4gc52UTlSzcPVd9OhbJaldr1Oj-UTU3x4FocGChJbQHIkq7ouDoOSxB-IQOHsklCFYOxAB_H8vAJdKfPSgqSf0oonPyp8Dx7DARX-RQeXqUvk19qQWMvxXUoSmZtrrJo-BGOBZTw1JLA_VSSKNVjejPbpwIin-1rSlr7onPHIAeFent9dlxK0/s500/Supreme%20Court%20Denial.png" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="278" data-original-width="500" height="111" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjqiHn0S_4gc52UTlSzcPVd9OhbJaldr1Oj-UTU3x4FocGChJbQHIkq7ouDoOSxB-IQOHsklCFYOxAB_H8vAJdKfPSgqSf0oonPyp8Dx7DARX-RQeXqUvk19qQWMvxXUoSmZtrrJo-BGOBZTw1JLA_VSSKNVjejPbpwIin-1rSlr7onPHIAeFent9dlxK0/w200-h111/Supreme%20Court%20Denial.png" width="200" /></a></span></div><span style="font-family: times;">According to <a href="https://www.law360.com/tax-authority/federal/articles/1783278?nl_pk=a1de635e-43d3-4fff-8b8e-093575abeb3a&utm_source=newsletter&utm_medium=email&utm_campaign=tax-authority/federal&utm_content=2024-01-09&read_main=1&nlsidx=0&nlaidx=0">Law360</a>, the U.S. Supreme Court<span style="background-color: white; color: #373739; font-size: 18px;"> declined on January 8, 2024 to review the </span>Internal Revenue Service<span style="background-color: white; color: #373739; font-size: 18px;">'s rejection of a partnership's $35.5 million tax loss, letting stand a Ninth Circuit ruling that the partnership never properly filed its delinquent tax return <u style="font-style: italic; font-weight: bold;">at a service center</u>.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /></span><p></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;">The justices</span><span style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><b> </b>denied </span><span style="background-color: white; color: #373739; font-size: 18px;">an August petition by Seaview Trading LLC to review the circuit court's 10-1 finding that Seaview never filed a return for 2001 because the partnership didn't file it at an IRS service center.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">Seaview argued in its petition that the Ninth Circuit's March ruling </span><span style="background: rgb(255, 255, 255); border: 0px; box-sizing: border-box; color: #373739; font-size: 18px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">incorrectly allowed</span><span style="background-color: white; color: #373739; font-size: 18px;"> the IRS to bypass a three-year statute of limitations and reject Seaview's loss in 2010. The government has only three years to issue a partnership adjustment, but the clock doesn't start ticking until a return is considered filed, a designation the Ninth Circuit misconstrued, Seaview said, when it ruled that Seaview's repeated <b><i>submissions directly to IRS agents starting in 2004 didn't count</i></b>.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">If the Ninth Circuit's decision were allowed to stand, Seaview told the justices, the ruling "would produce Kafkaesque madness throughout the tax system" by allowing the IRS to pursue taxpayers "no matter how many times taxpayers hand their returns to IRS agents at the IRS' direction."</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /></span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><b>Seaview Gave Copies Of Its Partnership Return For 2001 To <br />An IRS Agent In 2005 And An IRS Lawyer In 2007 Does Not Constitute "Filing" A Return, The Government Argued.</b></span></p><p style="text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3mpLfQwK-C0m23Sk-zXoMG99_bN9qT3ijeS1D4rHcuBOK20H9LjqyviAWNLeVnw7oj1f5kRTkROoz8gblStzmcoXekGNS5J3upuuGYMPFJtfxO5wGyCEzhbqvbd6Y7E5Ux6ax9SBRSiJsLvJQDNwYWe6EZG6_iyPdnPP32Qt312uJmBLuVwmsXMxzung/s477/Non%20Filed%20Tax%20Returns.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="105" data-original-width="477" height="70" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3mpLfQwK-C0m23Sk-zXoMG99_bN9qT3ijeS1D4rHcuBOK20H9LjqyviAWNLeVnw7oj1f5kRTkROoz8gblStzmcoXekGNS5J3upuuGYMPFJtfxO5wGyCEzhbqvbd6Y7E5Ux6ax9SBRSiJsLvJQDNwYWe6EZG6_iyPdnPP32Qt312uJmBLuVwmsXMxzung/s320/Non%20Filed%20Tax%20Returns.jpg" width="320" /></a></span></div><p></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;">Those transmissions failed to comply with the regulation specifying that partnership returns must be filed at an IRS service center, Treasury Regulation Section </span>1.6031(1)-1(a)(1)<span style="background-color: white; color: #373739; font-size: 18px;">, the government said.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">The government also rejected Seaview's claim that the appellate ruling bucked years of IRS advice to taxpayers that delinquent returns should be filed with the IRS agent who requests the return. The IRS has never endorsed the view that partnerships are not required to file their taxes at service centers, even if they are filed late, the government said. Seaview based its argument for Supreme Court review on a misreading of agency guidance documents, the government said.</span><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><br style="background-color: white; box-sizing: border-box; color: #373739; font-size: 18px;" /><span style="background-color: white; color: #373739; font-size: 18px;">Even the top of the IRS' webpage on late-filed returns instructs filers to "file your past due return the same way and to the same location where you would file an on-time return," the government said.</span></span><br style="background-color: white; box-sizing: border-box; color: #373739; font-family: LatoWeb, Arial, Helvetica, sans-serif; font-size: 18px;" /></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><b>PRACTICE TIP: </b>When representing a taxpayer who is being audited for an unfiled tax year, file the late return with the service center first and then provide the Revenue Agent with a copy of the same.</span></span></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have An IRS Tax Problem</font></b><b style="text-indent: -0.25in;"><font size="5">?</font></b></p><p class="MsoNormal" style="line-height: normal; 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clear: both; color: #1a1a1a; font-family: "roboto condensed"; text-align: center;"><div style="font-family: "times new roman";"><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><br /></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="font-size: medium;"><span><span><font><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">for a FREE Tax HELP Contact us </span><span style="color: #333333;"><span><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">at:</span></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span><br /><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="font-size: large;"><span style="color: #333333;"><a href="http://www.taxaid.com/" rel="nofollow" style="color: #c51c1c; 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font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p plr-id="179179467-82539723" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"><span style="color: black; font-family: times;"> </span></span></p><p plr-id="178796281-197445843" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;"></span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"></span></p><p plr-id="106206782-47077583" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"></span></span></p><div class="separator" style="clear: both; color: #111111; font-size: 18px; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><br /></span></span></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><br /></span></span></p><p><span style="font-family: times;"><span style="background-color: white; color: #373739; font-size: 18px;"><br /></span></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-82616675945276481752024-01-09T06:46:00.000-08:002024-01-09T06:46:01.872-08:00$20 Billion in IRS Funding Cuts Now Clawed Back in FY 2024 <p><span style="font-family: times;"><span style="color: #252525; font-size: 15px;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYZGNOJWSyYDxIm_kTVQQdmZw0HTZP_yeOuoLqBMic2W-Er7JvJs42Sfs_PzcLgj01zBKbrlPR28LbLALkBBSpxYhe4FaE1WDyf7ERtXvrLqvPdryYX-d-rUBWqBm0jUyUNewyK58uMLFeXviUnSd1-z54jWcZPr0OFMlMMKJ7y8IwJUiq8zJMLzIMfNc/s800/Cut%20your%20Expenses.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="600" data-original-width="800" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiYZGNOJWSyYDxIm_kTVQQdmZw0HTZP_yeOuoLqBMic2W-Er7JvJs42Sfs_PzcLgj01zBKbrlPR28LbLALkBBSpxYhe4FaE1WDyf7ERtXvrLqvPdryYX-d-rUBWqBm0jUyUNewyK58uMLFeXviUnSd1-z54jWcZPr0OFMlMMKJ7y8IwJUiq8zJMLzIMfNc/w200-h150/Cut%20your%20Expenses.jpg" width="200" /></a><span style="font-family: times;"><span style="color: #252525; font-size: 15px;"></span></span></div><span style="font-family: times;"><span style="color: #252525; font-size: 15px;">Previously agreed upon cuts from the IRS' Inflation Reduction Act (PL 117-169) funds across fiscal years 2024 and 2025 would be front-loaded in 2024, as part of a bipartisan, bicameral <a href="https://drive.google.com/file/d/1H8clA0dPcHCtb6yA2VBL3HEIV19wBzG4/view?usp=sharing">agreement </a>between congressional lawmakers reached over the weekend that sets a spending topline for fiscal 2024 appropriations.</span></span><p></p><p plr-id="195495991-163917125" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">Congress is tasked with taking action before a January 19 partial government shutdown deadline, and a February 2 full shutdown deadline. Agencies impacted by the earlier date include the departments of Agriculture, Transportation, Energy, Veterans Affairs, and Health and Human Services.</span></p><p plr-id="171198216-174050808" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">According to a </span><span class="c-doc-para-italic" plr-id="39483418-169084363" style="font-family: times; font-style: italic;"><a data-cp-js-function="{"useHref" : true, "command" : "CP.doc.openResource" , "params" :[]}" href="https://drive.google.com/file/d/1H8clA0dPcHCtb6yA2VBL3HEIV19wBzG4/view?usp=sharing" plr-id="73462354-144350062" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: 0px 0px; background-repeat: initial; background-size: initial; color: #145da4; font-size: 1em; font-weight: 700; letter-spacing: 0.01em; text-decoration-line: none;">January 7 letter</a></span><span style="font-family: times;"> from House Speaker Mike Johnson (R-LA), </span><span style="font-family: times;">refers to debt ceiling negotiations between Republicans, Democrats, and the Biden administration. </span></p><p></p><p plr-id="171198216-174050808" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">Last summer, Biden and then-Speaker Mike McCarthy struck a </span><span style="font-family: times;">hand-shake <a href="https://www.blogger.com/u/1/blog/post/edit/6398232680738279469/6579179943073789756">deal</a> </span><span style="font-family: times;">to redirect portions of the once-$80 billion appropriation to the IRS under the Inflation Reduction Act beyond the $1.4 billion rescinded by the Fiscal Responsibility Act. The plan was to trim another $10 billion out of the enforcement bucket in fiscal 2024, and again an additional $10 billion the next year.</span></p><p plr-id="179179467-82539723" style="margin: 1.1em 0px; text-align: center;"><span style="color: #252525; font-family: times; font-size: large;"><b>Under The Latest Agreement From The Hill, The <br />Fiscal 2025 $10 Billion Would Be Accelerated, Meaning <br />All <u>$20 Billion</u> Would Be Clawed Back This Year!</b></span></p><p plr-id="179179467-82539723" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">$6.1 billion would also be cut from the Biden administration's "continued COVID-era slush funds," the letter read, but Johnson acknowledged the final spending levels "will not satisfy everyone," nor will the cuts go as far "as many of us would like."</span></p><p style="text-align: center;"><span style="background-color: white; color: #373739; font-family: times; font-size: large;"><b><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjE_ABu9F1o6G6gwKnz76npQdAJGScYt62zX6z41yu99jgFIxye4jSl_JjkOfnjUudIXcGY0-iuVnHy_5SgJ0QDKyRPU_17UgkIzc0pLqdroRCdoSnz9-60LoWNtqMbcRBfOWZ5x-a9EzvGMFACT7RTLJj_JHcaz-_cbYlZqzvjRks9NC88Lu4XKtw1Ahk/s1200/IRS%20Funding.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" data-original-height="800" data-original-width="1200" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjE_ABu9F1o6G6gwKnz76npQdAJGScYt62zX6z41yu99jgFIxye4jSl_JjkOfnjUudIXcGY0-iuVnHy_5SgJ0QDKyRPU_17UgkIzc0pLqdroRCdoSnz9-60LoWNtqMbcRBfOWZ5x-a9EzvGMFACT7RTLJj_JHcaz-_cbYlZqzvjRks9NC88Lu4XKtw1Ahk/w200-h133/IRS%20Funding.jpg" width="200" /></a></span>All of Those Aspirational Objectives to Guarantee Fairness in The Tax System Through Enforcement Are ALL GONE as a Result of this 2nd </b></span><span style="text-align: left;"><span style="color: #373739; font-family: times; font-size: large;"><b>Debt Limit Bill!</b></span></span></p><p style="text-align: center;"><span style="text-align: left;"><span style="color: #373739; font-family: times; font-size: large;"></span></span></p><p plr-id="179179467-82539723" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="color: #373739; font-family: times; font-size: large;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgl8sVWquv17n1wHVXE8et-_vZz2MwW5Pjwn2F5EESqYDqIUBtBCYTl8kkJoBtaAoW2Q_UV8e99VcqOthYQwEV9365Cfz0EdN8VkTHmyiRpYeJHjHiG0B5Wp3SGGdFIHGdnuUCaC0i65UXIikHxJqCHVvK-1L2DgmWzSNwIPhKcwQr3I2VUP9YVDeM/s640/bomb%20(1).png" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="541" data-original-width="640" height="271" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjgl8sVWquv17n1wHVXE8et-_vZz2MwW5Pjwn2F5EESqYDqIUBtBCYTl8kkJoBtaAoW2Q_UV8e99VcqOthYQwEV9365Cfz0EdN8VkTHmyiRpYeJHjHiG0B5Wp3SGGdFIHGdnuUCaC0i65UXIikHxJqCHVvK-1L2DgmWzSNwIPhKcwQr3I2VUP9YVDeM/s320/bomb%20(1).png" width="320" /></a></span></div><p plr-id="32730133-18827907" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">Vice President for Federal Tax Policy Chuck Marr took issue with the proposal, also commenting on X in a thread that <b>"[c]utting IRS funding is a bad idea overall."</b></span></p><p plr-id="157121156-65076359" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">"The IRS funding reduces wealthy tax cheating and raises revenue," said Marr. "We're already seeing great results. And remember: cutting IRS funding does not save money. It loses money. Lots of it. Congress should protect IRS funding to improve customer service and ensure wealthy taxpayers and corporations pay the taxes they legally owe, i.e. deliver what honest taxpayers deserve."</span></p><p plr-id="106206782-47077583" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">The White House, however, gave its stamp of approval to the deal, which the president said "moves us one step closer to preventing a needless government shutdown and protecting important national priorities."</span></p><p class="MsoNormal" style="text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have An IRS Tax Problem</font></b><b style="text-indent: -0.25in;"><font size="5">?</font></b></p><p class="MsoNormal" style="line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><b style="text-indent: -0.25in;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span> </span><span> </span></span><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span></span></span></strong></b></div><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; font-size: 18px; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; font-family: "times new roman";"><span style="font-size: large;"><font><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none; text-align: left;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none;"><span style="color: #333333;"><span><span><span style="color: #333333;"><span><span style="color: #333333;"><b><span style="color: #333333;"><span style="color: #333333;"><b><span style="color: #333333;"><span>Marini & Associates, P.A</span><span>.</span></span></b></span></span></b></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span></span></strong></span><strong><span style="color: black; font-family: "times new roman";"> <br /><br /></span><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFk7Ktt5PrJMjpN80nNUn2epmqdPJx_j_DL06eTKJHe1G9aQctuARWo6aeSMQ-0W0FZfNMMqFVzbnQyCJkfae2mwzhjj5cJB1prUcacaC13ZRKgEEtcJVJKzSKJgi8UDCBb5x6SJX_POzQinV0l4lUPbK-kWrdY-OtueGRE6wYp6k4CUa3DI7HT1n8/s720/2022%20Logo%202.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="327" data-original-width="720" height="145" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFk7Ktt5PrJMjpN80nNUn2epmqdPJx_j_DL06eTKJHe1G9aQctuARWo6aeSMQ-0W0FZfNMMqFVzbnQyCJkfae2mwzhjj5cJB1prUcacaC13ZRKgEEtcJVJKzSKJgi8UDCBb5x6SJX_POzQinV0l4lUPbK-kWrdY-OtueGRE6wYp6k4CUa3DI7HT1n8/s320/2022%20Logo%202.PNG" width="320" /></a></div></strong></div><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; color: #1a1a1a; font-family: "roboto condensed"; text-align: center;"><div style="font-family: "times new roman";"><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><br /></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="font-size: medium;"><span><span><font><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">for a FREE Tax HELP Contact us </span><span style="color: #333333;"><span><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">at:</span></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span><br /><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="font-size: large;"><span style="color: #333333;"><a href="http://www.taxaid.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.TaxAid.com</span></span></a><span style="font-family: times, "times new roman", serif;"> or </span></span><span style="color: black;"><a href="http://www.ovdplaw./" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"></span></a><a href="http://www.ovdplaw.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.OVDPLaw.com</span></span></a></span></span><span style="transition-property: all;"><a href="http://www.ovdplaw.comcomor/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"></a></span><span style="font-size: 18px;"><br /><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333; font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p plr-id="179179467-82539723" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"><span style="color: black; font-family: times;"> </span></span></p><p plr-id="178796281-197445843" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p><span style="background-color: white; color: #444444; font-family: times; font-size: 16px;"></span></p><p><span style="background-color: white; color: #373739; font-family: times; font-size: 18px;"></span></p><p plr-id="106206782-47077583" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><div class="separator" style="clear: both; color: #111111; font-size: 18px; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-30159734391736101482023-12-21T12:47:00.000-08:002023-12-21T12:47:49.209-08:00Another Former Swiss Executive Pleads Guilty to Tax Fraud & Conspiracy<p><span style="background-color: white; color: #444444;"><span style="font-family: times;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieT8cqCyfq_c2aLshnlohk_8C-vbOLEeky0-oIDNbyrVdyXX5OuIhlQumAhyfEoGMsE2j-vUr6HUlw_QeDhGT6PFRQYBpF-JvZXE9n_Q6fEtkoORKnTQ3p-28Pj3tSMe2s1_k_vCDJIq0FrxZxwIJBbRU0zE7tm1HV4pI-9DCjBX1EtzEG7Z-3Lieq91s/s150/Swiss%20Flag%20and%20Bank.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="150" data-original-width="150" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEieT8cqCyfq_c2aLshnlohk_8C-vbOLEeky0-oIDNbyrVdyXX5OuIhlQumAhyfEoGMsE2j-vUr6HUlw_QeDhGT6PFRQYBpF-JvZXE9n_Q6fEtkoORKnTQ3p-28Pj3tSMe2s1_k_vCDJIq0FrxZxwIJBbRU0zE7tm1HV4pI-9DCjBX1EtzEG7Z-3Lieq91s/s1600/Swiss%20Flag%20and%20Bank.jpg" width="150" /></a></span></div><span style="font-family: times;">According to <a href="https://www.justice.gov/opa/pr/former-swiss-executive-pleads-guilty-tax-fraud-conspiracy">DoJ</a>, a Swiss national pleaded guilty on </span><span style="font-family: times;"><span style="background-color: white; color: #333333; font-size: 14px;">December 21, 2023 </span><span style="background-color: white; color: #444444;">to conspiring to defraud the United States for his role in a scheme to help high-net-worth U.S. taxpayers conceal their income and assets in offshore accounts.</span></span><p></p><p><span style="background-color: white; color: #444444;"><span style="font-family: times;">According to court documents and statements mad</span></span><span style="background-color: white; color: #444444; font-family: times;">e in court, Rolf Schnellmann was the former head of Allied Finance Trust AG, a ZuJanuary come in andrich-based financial services company and a subsidiary of the Allied Finance Group in Liechtenstein. </span><span style="background-color: white; color: #404040; font-family: times;">Rolf Schnellmann, Daniel Wälchli and Zurich, Switzerland-based Allied Finance Trust AG were indicted in 2020 for conspiracy to defraud </span><span style="background-color: white; color: #404040; font-family: times;">the US.</span></p><p><span style="font-family: times;"><span style="background-color: white; color: #444444;">From approximately 2008 to 2014, Schnellmann and his co-conspirators defrauded the IRS by concealing income and assets of high-net-worth U.S. taxpayer-clients in undeclared bank accounts at Privatbank IHAG Zurich AG (IHAG), a Swiss private bank. </span></span></p><p style="text-align: center;"><span style="color: #444444; font-family: times; font-size: large;"><b>Schnellmann And His Co-Conspirators Devised And Implemented A Scheme Dubbed The “Singapore Solution” To Fraudulently Conceal The Bank Accounts Of The U.S. Taxpayer-Clients, Their Assets And Their Income From U.S. Authorities.</b></span></p><p><span style="background-color: white; color: #444444; font-family: times;">As part of the scheme, Schnellmann and his co-conspirators conspired to transfer <b>more than $60 million</b> from the U.S. taxpayer-clients’ undeclared IHAG bank accounts through a series of nominee accounts in Hong Kong and other locations before returning the funds to newly opened accounts at IHAG in the name of a Singapore-based asset-management firm that a co-conspirator helped establish. The U.S. taxpayer-clients paid large fees to IHAG and others to help them conceal their funds and assets and evade taxes. </span></p><p style="text-align: center;"><span style="color: #404040; font-family: times; font-size: large;"><b>Schnellmann Was Indicted For Helping 3 U.S. <br />Taxpayer-Clients Conceal More Than $60 Million Offshore.</b></span></p><p><span style="background-color: white; color: #444444;"><span style="font-family: times;">Schnellmann was arrested in August in Italy and extradited to the United States. He is scheduled to be sentenced on July 19, 2024, and faces a maximum penalty of five (5) years in prison, as well as a period of supervised release, restitution and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.</span></span></p><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-size: large;">Do You Have Undeclared Income from <br />an </span></span></b></span><span style="font-family: "times" , "times new roman" , serif; font-size: x-large;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Offshore Bank or</span></b></span><span style="font-size: x-large;"> </span><strong><span style="font-size: large;"><span style="font-family: "times";">Financial Advisors</span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;">?</span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s1600/Hand+Cuff+-+Tax+Crime.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s200/Hand+Cuff+-+Tax+Crime.jpg" width="171" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><strong><span style="font-size: large;">Is Your Name Being Handed Over to the IRS?</span></strong></span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s1600/Swiss+CD%255B1%255D.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s200/Swiss+CD%255B1%255D.jpg" width="200" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="font-family: "times" , "times new roman" , serif; font-size: xx-small;"></span></b> </div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: large;">Want to Know if Voluntary Disclosure is Right for You?</span> </span></span></b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s1600/OVDPLaw.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="503" height="143" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s320/OVDPLaw.JPG" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><strong><span style="font-size: medium;"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: xx-small;"><span style="font-size: small;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Contact the <b>Tax Lawyers </b></span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at</span></span><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"></span></span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-size: large;">Marini & Associates, P.A.</span></span></b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s1600/Logo+2017+Bold.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="600" data-original-width="600" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s200/Logo+2017+Bold.jpg" width="200" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>for a FREE Tax Consultation contact us <span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at:</span></span></strong></span></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"></span><span style="color: #2b00fe; font-size: medium;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.taxaid.com/"><span><strong>www.TaxAid.com</strong></span></a><strong> or </strong></span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.ovdplaw./"><span></span></a><a href="http://www.ovdplaw.com/"><span><strong>www.OVDPLaw.com</strong></span></a></span></span><span style="color: #333333;"><a href="http://www.ovdplaw.comcomor/"></a></span><strong style="color: #333333;"> <br /></strong></span><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>or </strong></span></span><strong style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888-8TaxAid (888) 882-9243</strong></div><div><strong style="color: #333333; font-family: times, "times new roman", serif;"><br /></strong></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-44631666771229277622023-12-12T11:34:00.000-08:002023-12-12T11:34:45.517-08:00Wealthy Targets of IRS Malta Probe Get Summons Rescission Letters?<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfgTzpjjuMMMXpErPzPo_cGeC6dl0YuDvU_-QNFJk0e5pXl8lYb4MA5xInqAipUNUYyuVwvjSYN7Gsmi9PUUZcRRVpXcRxkMyqPcVTLXuaaGC4rTBkOjM38x4V0M_uZRb3_kUQ6e_fLSHQMjJFK6viKSQrQcImyNRx-6pcKpsq0trZkmLb0zdhdBQZIy8/s1000/Malta%20Pension%20Plans.jog.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="476" data-original-width="1000" height="152" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjfgTzpjjuMMMXpErPzPo_cGeC6dl0YuDvU_-QNFJk0e5pXl8lYb4MA5xInqAipUNUYyuVwvjSYN7Gsmi9PUUZcRRVpXcRxkMyqPcVTLXuaaGC4rTBkOjM38x4V0M_uZRb3_kUQ6e_fLSHQMjJFK6viKSQrQcImyNRx-6pcKpsq0trZkmLb0zdhdBQZIy8/s320/Malta%20Pension%20Plans.jog.jpg" width="320" /></a></div><span style="font-family: times;"><p>According to <a href="https://news.bloombergtax.com/daily-tax-report/wealthy-targets-of-irs-malta-probe-get-letters-walking-it-back">Daily Tax Report</a> <span style="background-color: white; color: #2a2c30;">the IRS has rescinded some criminal summonses from its crackdown on Malta pension plans, raising questions about whether the agency is backing off or retooling its aggressive campaign targeting the offshore tax sc</span><span style="background-color: white; color: #2a2c30;">hemes.</span></p></span><p></p><p style="background-color: white; box-sizing: inherit; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px; text-align: center;"><span style="color: #2a2c30; font-family: times; font-size: large;">Three Attorneys Interviewed By Bloomberg Tax Said More Than 30 Of Their Clients Had Received A Withdrawal Letter Last Week.</span></p><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px;"><span style="font-family: times;">The IRS declined to comment. </span><span style="font-family: times;">It’s not clear whether the withdrawal letters represent a revision to the investigation’s focus into the potentially abusive schemes. If so, it would be a striking reversal after the agency sent out hundreds of </span><bsp .article.citation="" state="{"cms.site.owner":{"_ref":"00000166-e5a9-d785-a767-fffdcac50000","_type":"00000151-acf5-d1ce-a159-bff728d6001e"},"cms.content.publishDate":1702330034715,"cms.content.publishUser":{"_ref":"00000157-1fee-dba5-a9ff-ffff456f0000","_type":"00000151-acf5-d1ce-a159-bff728d8001b"},"cms.content.updateDate":1702330034715,"cms.content.updateUser":{"_ref":"00000157-1fee-dba5-a9ff-ffff456f0000","_type":"00000151-acf5-d1ce-a159-bff728d8001b"},"articleCitation":{"_id":"0000018c-5ac6-d4e0-a3cd-7fefcd0f0000","_type":"00000160-bca2-df03-a1ef-bcef37330000"},"_id":"0000018c-5ac6-d4e0-a3cd-7fefcd0a0000","_type":"00000160-bca2-df03-a1ef-bcef37350000"}" style="box-sizing: inherit; font-family: times;"><a href="https://www.blogger.com/u/1/blog/post/edit/6398232680738279469/3914003824230379479">summonses in June</a></bsp><span style="font-family: times;"> to wealthy Americans sheltering assets in Malta and their advisors. </span><span style="font-family: times;">A letter announcing the rescinded summons, obtained by Bloomberg Tax, states that </span></p><p style="background-color: white; box-sizing: inherit; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px; text-align: center;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjt_CdFhZxaZXmvQxBbzHyV03rZEyXF4-aozzGx8H1K9UBG4g6vOMEYR5geSRIrfPcM3tv-QlbHRezaf8_WOGex4Uxj5zPd7oG4z6CF6BblEFrME2eHO0WDSh8zGAhe8rA4USl5-vboUXQ6o-NUgdd9u4DOwtoASVolMrXQOJaijB8-kAoI_GkJnahPUCg/s724/IRS%20John%20Doe%20Summons.png" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><br /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjt_CdFhZxaZXmvQxBbzHyV03rZEyXF4-aozzGx8H1K9UBG4g6vOMEYR5geSRIrfPcM3tv-QlbHRezaf8_WOGex4Uxj5zPd7oG4z6CF6BblEFrME2eHO0WDSh8zGAhe8rA4USl5-vboUXQ6o-NUgdd9u4DOwtoASVolMrXQOJaijB8-kAoI_GkJnahPUCg/s724/IRS%20John%20Doe%20Summons.png" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><br /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjt_CdFhZxaZXmvQxBbzHyV03rZEyXF4-aozzGx8H1K9UBG4g6vOMEYR5geSRIrfPcM3tv-QlbHRezaf8_WOGex4Uxj5zPd7oG4z6CF6BblEFrME2eHO0WDSh8zGAhe8rA4USl5-vboUXQ6o-NUgdd9u4DOwtoASVolMrXQOJaijB8-kAoI_GkJnahPUCg/s724/IRS%20John%20Doe%20Summons.png" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><br /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjt_CdFhZxaZXmvQxBbzHyV03rZEyXF4-aozzGx8H1K9UBG4g6vOMEYR5geSRIrfPcM3tv-QlbHRezaf8_WOGex4Uxj5zPd7oG4z6CF6BblEFrME2eHO0WDSh8zGAhe8rA4USl5-vboUXQ6o-NUgdd9u4DOwtoASVolMrXQOJaijB8-kAoI_GkJnahPUCg/s724/IRS%20John%20Doe%20Summons.png" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="724" data-original-width="566" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjt_CdFhZxaZXmvQxBbzHyV03rZEyXF4-aozzGx8H1K9UBG4g6vOMEYR5geSRIrfPcM3tv-QlbHRezaf8_WOGex4Uxj5zPd7oG4z6CF6BblEFrME2eHO0WDSh8zGAhe8rA4USl5-vboUXQ6o-NUgdd9u4DOwtoASVolMrXQOJaijB8-kAoI_GkJnahPUCg/w156-h200/IRS%20John%20Doe%20Summons.png" width="156" /></a></div><span style="color: #2a2c30; font-family: times; font-size: large;"><div style="text-align: center;">"The Agency’s June Demand For Information Had Been </div><div style="text-align: center;">Withdrawn And Advised, “Do Not Take Further Efforts </div><div style="text-align: center;">To Comply With The Summons Referenced Above."</div></span><p></p><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px; text-align: left;"><span style="font-family: times;">The brief letter, dated Dec. 4, specifies the agency hasn’t used any information or records collected by IRS Criminal Investigation, adding physical records will be returned and “any electronic responsive records have been destroyed.” </span><span style="font-family: times;">The letter, signed by IRS Criminal Investigation special agent Brian Visalli, gives no rationale or legal basis for the agency’s decision, but advises taxpayers to retain any records responsive to the summons “as you may receive subsequent legal process for those records.”</span></p><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px;"><span style="font-family: times;">Former IRS commissioner Charles Rettig said any adjustment to the criminal probe wouldn’t affect the current pattern of civil audits. <b>“Withdrawing the Summons’ does not translate, at least not yet, into walking away from civilly examining the transaction,” he said in an emailed message.</b></span></p><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px;"><span style="font-family: times;">Bryan Skarlatos, a partner in the New York office of Kostelanetz, characterized the action as “a recognition that the summonses were improperly issued” and a decision to “focus the criminal investigation more narrowly while allowing many of the civil audits to proceed.”</span></p><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px;"><span style="font-family: times;">Tom Cullinan, a shareholder in the Atlanta office of Chamberlain Hrdlicka, </span><span style="font-family: times;">suspects Criminal Investigation concluded it wouldn’t be able to demonstrate criminal fraud because the tax controversies boil down to <b><i>technical interpretations of a treaty</i></b>.</span></p><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px;"><span style="font-family: times;">Ventry, the California law professor, said IRS shouldn’t back down if it has reasonable evidence of fraudulent conduct and t</span><span style="font-family: times;">o the extent the agency’s information demands might have been “over-inclusive,” the <b>IRS could and should issue a narrower batch of summonses</b> targeting the individuals and the conduct of greatest concern. </span></p><div style="text-align: center;"><b><span style="font-size: large;">Taxpayers Who Have Maltese Pension Plans Should <br /></span></b><b><span style="font-size: large;">Carefully Review The Underlying Legal Requirements </span></b></div><div style="text-align: center;"><b><span style="font-size: large;">And Consult Independent, Competent Advisors</span></b></div><div style="text-align: center;"><b><br /></b><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpmDqHBF6SI2sMn6snGAua36i-7qbGdwsj5GX9ZC-y0h986bgJHqhr16xNxDWgTwIgDwDXmraRVNcT5Cj2buyP8dqQciRWr2XKVwxuL-E5bgKtGBQLTejsriKqRjuanbSvC9AtHSx3jXTVqJoWKufSRTH1rRL88T9z9d3wjE1XPv1u1y84rf_s0UcR/s2400/0499%20Estate%20Planning%20Council%20of%20Greater%20Miami%20020618.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1566" data-original-width="2400" height="209" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpmDqHBF6SI2sMn6snGAua36i-7qbGdwsj5GX9ZC-y0h986bgJHqhr16xNxDWgTwIgDwDXmraRVNcT5Cj2buyP8dqQciRWr2XKVwxuL-E5bgKtGBQLTejsriKqRjuanbSvC9AtHSx3jXTVqJoWKufSRTH1rRL88T9z9d3wjE1XPv1u1y84rf_s0UcR/s320/0499%20Estate%20Planning%20Council%20of%20Greater%20Miami%20020618.jpg" width="320" /></a></div></div><div style="text-align: center;"><b><span style="font-size: large;">Before Claiming Any Purported Tax Benefits.</span></b></div><p style="-webkit-text-stroke-width: 0px; margin: 0in;"><span style="font-family: times;"><br /></span></p><p style="-webkit-text-stroke-width: 0px; margin: 0in;"><span style="font-family: times;">Taxpayers who have already claimed the purported tax benefits of one of these four transactions on a tax return should consider taking corrective steps, such as filing an amended return and seeking independent advice. </span></p><p style="-webkit-text-stroke-width: 0px; margin: 0in;"><span style="font-family: times;"><br /></span></p><p style="-webkit-text-stroke-width: 0px; margin: 0in;"><span style="font-family: times;">Where appropriate, the IRS will challenge the purported tax benefits from the transactions on this list, and the IRS may assert accuracy-related penalties ranging from 20% to 40%, or a civil fraud penalty of 75% of any underpayment of tax.</span><span style="font-family: times;"> </span></p><p class="MsoNormal" style="-webkit-text-stroke-width: 0px; text-align: center;"><span style="font-family: times; font-size: large;"><b><span style="text-indent: -0.25in;"><font><span>Have a Maltese </span></font></span><span style="text-indent: -0.25in;"><font><span style="background-color: #fdfdfd; text-align: left; text-indent: 0px;">Pension Plan</span><span> Problem?</span></font></span></b></span></p><p class="MsoNormal" style="-webkit-text-stroke-width: 0px; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; 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margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s320/great%20results.jpg" width="320" /></a></div><div><br /></div></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px;"><span style="font-family: times;"><br /></span></p><p style="background-color: white; box-sizing: inherit; color: #2a2c30; line-height: var(--size-line-height-medium); margin: 0px 0px 1rem; padding: 0px;"><span style="font-family: times;"><br /></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-61048679691881094432023-12-04T14:54:00.000-08:002023-12-04T14:54:48.923-08:00Swiss Banque Pictet Rolls Over On U.S. Taxpayers It Helped Hide Assets In Offshore Accounts<div class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;" trbidi="on"><p class="MsoNormal" style="background: white; line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="color: #444444; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"></span></p><div class="separator" style="clear: both; font-family: Times, serif; text-align: center;"><span style="color: #444444; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjy-soephORijkglK5Bkvj8GGSI5rgiLzG5-NgzTEQA90DxPf9eaO_JeidZR3qAgh6z7BZkYgrZnVFMcQufnXI9WfY9hMt3PZX7kdie1rvbO1xeznIx_k3kIkhWZ1jdFVRkevjx5b-KIDyWZ-U1Ox5GQk_i2COxSxIKNVeTyRZhTeoXkjEKC34k94-x5s0/s150/Swiss%20CD.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="150" data-original-width="150" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjy-soephORijkglK5Bkvj8GGSI5rgiLzG5-NgzTEQA90DxPf9eaO_JeidZR3qAgh6z7BZkYgrZnVFMcQufnXI9WfY9hMt3PZX7kdie1rvbO1xeznIx_k3kIkhWZ1jdFVRkevjx5b-KIDyWZ-U1Ox5GQk_i2COxSxIKNVeTyRZhTeoXkjEKC34k94-x5s0/s1600/Swiss%20CD.jpg" width="150" /></a></span></div><span style="color: #444444; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><span style="font-family: times;">As part of </span></span><span style="font-family: times;"><span style="color: #333333; font-size: 14px;">December 4, 2023</span><span style="color: #444444; font-size: 12pt;">’s resolution, Banque
Pictet entered into a deferred prosecution agreement and agreed to pay
approximately </span><b style="color: #444444; font-size: 12pt;">$122.9 million</b><span style="color: #444444; font-size: 12pt;"> to the U.S. Treasury. </span></span><p></p><p class="MsoNormal" style="background: white; line-height: normal; text-align: center;"><span style="color: #444444; font-family: Times, serif; font-size: large;"><b>Today’s Resolution Is One of a Series of Cases by The Justice Department in Connection With its Investigations Since 2008 Into Facilitation of Offshore U.S. Tax Evasion by Foreign Banks.</b></span></p><p class="MsoNormal" style="background: white; line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;"><span style="color: #444444; font-family: Times, serif; font-size: 12pt;">The case has been assigned to U.S. District Judge Edgardo Ramos
for the Southern District of New York. </span></p></div><div class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: left;" trbidi="on"><span>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">“Today, Banque Pictet et Cie admitted
to actively helping U.S. taxpayers use coded accounts, foreign trusts and
entities, nominee beneficiaries and other deceits to conceal their income and
assets abroad,” said Acting Deputy Assistant Attorney General Stuart M.
Goldberg. “For this criminal conduct the bank will be paying nearly $122.9
million in restitution, disgorgement of fees and a financial penalty, and is
required to fully cooperate with investigations relating to these secret
accounts.”</span><span style="color: #444444; font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">“As it has admitted today, Banque
Pictet knowingly conspired to conceal from the IRS the income generated by
accounts which held more than $5.6 billion,” said U.S. Attorney Damian Williams. Rooting out financial malfeasance remains a
priority for this Office, and we encourage companies and financial institutions
to come to us to report wrongdoing before we come to you.”</span><span style="color: #444444; font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; line-height: normal; text-align: center;"><span style="color: #444444; font-family: Times, serif; font-size: large;"><b>“This Case Should Provide A Clear Message To Others Who Try To Hide Their Assets And Income Offshore."</b></span></p><p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal; text-align: left;"><span style="color: #444444; font-family: Times, serif; font-size: 12pt;">Our special
agents are experts in following the money, and they are the best at uncovering
schemes that try to defraud the U.S. tax system,” said IRS Criminal
Investigation Chief Jim Lee. “Offshore tax evasion is a priority for IRS
Criminal Investigation, and today’s deferred prosecution agreement with Bank
Pictet collects more than $120 million owed to the U.S. government.”</span></p>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: Times, serif; font-size: 12pt;">From 2008 to 2014, The Pictet Group
provided offshore corporation and trust formation and administration services
to certain U.S. taxpayers, first through the Estate Planning and Trust Services
unit and later through a wholly owned subsidiary called Rhone Trust and
Fiduciary Services SA (Rhone).</span></p>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">As of Dec. 31, 2014, the Pictet
Group’s private banking division managed or held custody of approximately $165
billion in assets under management (AUM). From 2008 to 2014, the Pictet Group
served approximately 3,736 private accounts that had U.S. taxpayers as
beneficial owners, whose aggregate maximum AUM, including declared assets, was
approximately $20 billion.</span><span style="color: #444444; font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">Though Pictet Group adopted early
measures to confirm that U.S. clients complied with U.S. law, from 2008 through
2014, the Pictet Group assisted certain U.S. taxpayer-clients with Pictet Group
accounts in evading their U.S. tax obligations and otherwise hiding undeclared
accounts<a href="https://www.blogger.com/u/1/blog/post/edit/6398232680738279469/1097742344023713731"><span style="color: #0064a8;">[1]</span></a> from the IRS.</span><span style="color: #444444; font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">In total, from 2008 through 2014, the
Pictet Group held 1,637 U.S. Penalty Accounts with aggregate maximum AUM of
approximately $5.6 billion in January 2008, on behalf of U.S. taxpayer-clients,
who collectively evaded approximately $50.6 million in U.S. taxes.</span><span style="color: #444444; font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></p>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">The Pictet Group assisted U.S.
taxpayer-clients with evading their U.S. taxes by opening and maintaining
undeclared accounts for U.S. taxpayer-clients at the Pictet Group, either
directly or through external asset managers. The Pictet Group also maintained
accounts of certain U.S. taxpayer-clients within the Pictet Group in a manner
that allowed the U.S. taxpayer-clients to further conceal their undeclared
accounts from the IRS. </span><span style="color: #444444; font-family: Times, serif; font-size: 12pt;">As further detailed below, the Pictet
Group used a variety of means to assist U.S. taxpayer-clients in concealing
their undeclared accounts, including by:</span></p>
<ul style="font-family: times, "times new roman", serif;" type="disc">
<li class="MsoNormal" style="background: white; color: #444444; line-height: normal; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">forming or administering offshore entities in whose name the Pictet
Group opened and maintained accounts, some of which were undeclared, for
U.S. taxpayer-clients; </span><span style="font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #444444; line-height: normal; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">opening and maintaining undeclared accounts in the names of offshore
entities formed by others for U.S. taxpayer-clients;</span><span style="font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #444444; line-height: normal; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">opening and maintaining Private Placement Life Insurance policy
accounts, also called insurance wrappers, held in the name of insurance
companies but beneficially owned by U.S. taxpayers and improperly managed
or funded through undeclared accounts at the Pictet Group;</span><span style="font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #444444; line-height: normal; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">transferring funds from undeclared U.S. taxpayer-client accounts to
accounts nominally held by non-U.S. clients but still controlled by U.S.
taxpayer-clients via fictitious donations, thus assisting U.S.
taxpayer-clients in continuing to maintain undeclared funds offshore;</span><span style="font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #444444; line-height: normal; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">providing traditional Swiss banking products such as hold-mail
account services, where account-related mail is held at the bank rather
than sent to the client, and coded or numbered accounts and</span><span style="font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></li>
<li class="MsoNormal" style="background: white; color: #444444; line-height: normal; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in;"><span style="font-family: "Times",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;">accepting IRS Forms W-8BEN<a href="https://www.blogger.com/u/1/blog/post/edit/6398232680738279469/1097742344023713731"><span style="color: #0064a8; font-size: 7pt;">[3]</span></a> or Pictet
Group’s substitute forms that the group knew or should have known falsely
stated or implied under penalty of perjury that offshore entities
beneficially owned the assets in the undeclared accounts.</span><span style="font-family: "Times New Roman",serif; font-size: 12pt; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 0pt; mso-ligatures: none;"><o:p></o:p></span></li>
</ul>
<p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: Times, serif; font-size: 12pt;">In addition to the payment, Banque
Pictet also agrees under the deferred prosecution agreement to accept
responsibility for its conduct by stipulating to the accuracy of an extensive
statement of facts. Banque Pictet further agreed to refrain from all future
criminal conduct, implement remedial measures and cooperate fully with further
investigations into hidden bank accounts. </span></p><p class="MsoNormal" style="background: white; line-height: normal; text-align: center;"><span style="color: #444444; font-family: Times, serif; font-size: large;"><b>Specifically, The Bank Is Required To Cooperate Fully With Ongoing Investigations And Affirmatively Disclose Any Information It May Later Uncover Regarding U.S. Accounts.</b></span></p><p class="MsoNormal" style="background: white; font-family: times, "times new roman", serif; line-height: normal;"><span style="color: #444444; font-family: Times, serif; font-size: 12pt;">The Bank is also required to disclose information consistent with the Justice
Department’s Swiss Bank Program relating to accounts closed between Jan. 1,
2008, and Dec. 31, 2022. The agreements provide no protection from criminal or
civil prosecution for any individuals.</span></p></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-size: large;">Do You Have Undeclared Income from one of </span></span></b></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">these Offshore Banks or</span></b></span> </span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><strong><span style="font-size: large;"><span style="font-family: "times";">Financial Advisors</span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;">?</span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s1600/Hand+Cuff+-+Tax+Crime.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s200/Hand+Cuff+-+Tax+Crime.jpg" width="171" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><strong><span style="font-size: large;">Is Your Name Being Handed Over to the IRS?</span></strong></span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s1600/Swiss+CD%255B1%255D.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s200/Swiss+CD%255B1%255D.jpg" width="200" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="font-family: "times" , "times new roman" , serif; font-size: xx-small;"></span></b> </div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: large;">Want to Know if Voluntary Disclosure is Right for You?</span> </span></span></b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s1600/OVDPLaw.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="503" height="143" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s320/OVDPLaw.JPG" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><strong><span style="font-size: medium;"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: xx-small;"><span style="font-size: small;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Contact the <b>Tax Lawyers </b></span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at</span></span><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"></span></span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-size: large;">Marini & Associates, P.A.</span></span></b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s1600/Logo+2017+Bold.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="600" data-original-width="600" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s200/Logo+2017+Bold.jpg" width="200" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>for a FREE Tax Consultation contact us <span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at:</span></span></strong></span></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"></span><span style="color: #2b00fe; font-size: medium;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.taxaid.com/"><span><strong>www.TaxAid.com</strong></span></a><strong> or </strong></span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.ovdplaw./"><span></span></a><a href="http://www.ovdplaw.com/"><span><strong>www.OVDPLaw.com</strong></span></a></span></span><span style="color: #333333;"><a href="http://www.ovdplaw.comcomor/"></a></span><strong style="color: #333333;"> </strong></span></div><p style="text-align: center;"><span style="font-family: times;"></span></p><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>or </strong></span></span><strong style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888-8TaxAid (888) 882-9243</strong></div><div><strong style="color: #333333; font-family: times, "times new roman", serif;"><br /></strong></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-12693710466354298252023-12-04T14:37:00.000-08:002023-12-04T14:37:10.920-08:00Swiss Turn Over More US Client Data & More Bank Accounts<p><span style="font-family: times;"><span></span></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><span><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg77IR7eyDibE2NyhPKf7Yk_OUX1USpA9qIdPLS56R39-e5amMcpaO6zQX5tGEkzKV6JMfddSk2xhWo4t_-IZZAU5Qckn9hzawnCFZ-j9CgPDIXfpwL3U0QKwmWWUpWELC06ucNmRvL6F0/s150/Swiss+CD.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="150" data-original-width="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg77IR7eyDibE2NyhPKf7Yk_OUX1USpA9qIdPLS56R39-e5amMcpaO6zQX5tGEkzKV6JMfddSk2xhWo4t_-IZZAU5Qckn9hzawnCFZ-j9CgPDIXfpwL3U0QKwmWWUpWELC06ucNmRvL6F0/s0/Swiss+CD.jpg" /></a></span></span></div><span style="font-family: times;"><span>The Swiss tax office notified 12 Swiss banks and one fiduciary that the U.S. is asking for legal assistance in rooting out tax cheats, according to </span>a government bulletin<span> made public this week. The requests cite FATCA, a U.S. banking and tax law which is applied abroad.<br /><br />The requests represent vestiges of American clients at Swiss banks which haven't agreed to a data handover. FATCA is an offshoot of a decade-long U.S. hunt for money hidden offshore, including in Switzerland. </span></span><p></p><p><span style="font-family: times;">Additionally, U.S. and Swiss officials in 2012 agreed on a program for Swiss banks to come clean on undeclared accounts and avoid prosecution. Many of the banks listed in the most recent Swiss bulletin, like Vontobel and Mirabaud, elected simply not to take part in the program.</span></p><p><span style="font-family: times;">Pictet, which is also listed in the bulletin, couldn't take part because it is still in the crosshairs of a U.S. criminal investigation for its offshore dealings with America's wealthy. Other banks include Barclays' Swiss arm and Union Bancaire Privée, both of which did participate</span><span style="font-family: times;">.</span></p><p><span style="font-family: times;">The remaining banks listed are CA Indosuez, Hinduja Banque, of which didn't take part, as well as Schroder & Co, PKB Private Bank, and Zuger Kantonalbank, which did. The Swiss fiduciary listed in the legal aid is Arofin.</span></p><p><span style="font-family: times;">Fibi, a defunct bank whose assets were bought by Compagnie Bancaire Helvetique, is also on the list, as is Notenstein La Roche, which was purchased by Vontobel three years ago.</span></p><p><span style="font-family: times;">The legal aid comes in response to requests from U.S. tax investigators under FATCA, or the Foreign Account Tax Compliance Act. Switzerland and the U.S. last year finally ratified a </span>double taxation agreement<span style="font-family: times;">, paving the way to cooperate.</span></p><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-size: large;">Do You Have Undeclared Income from one of </span></span></b></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-size: large;"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">these Offshore Banks or</span></b></span> </span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><strong><span style="font-size: large;"><span style="font-family: "times";">Financial Advisors</span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;">?</span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s1600/Hand+Cuff+-+Tax+Crime.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhU4kJte0bazbMUJkgRjlUT0dqFSiZr7SO7ErOrJdBy5EdCuH_e8D-zEbUPtG3KwdO0rqIVTiVmnnT9oFjxXIf3C8mY3_jgpUvG2js7wzMnOTWRm8YbvV3we5WFifrDco3vTteP1E-_G53W/s200/Hand+Cuff+-+Tax+Crime.jpg" width="171" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><strong><span style="font-size: large;">Is Your Name Being Handed Over to the IRS?</span></strong></span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s1600/Swiss+CD%255B1%255D.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWxkIUJwK6orzuwH4g2ZBggjj6xZqhi8k-3sVEoXYgtGt8cjxQ-TIT27-SlfuFs_TrjkEqUEyzlrvrcv9opONwXJa45iVf2MdHkVcjBjBakurP_D7U2DtG1Na9jl9rVHdBUsF4TMy9NMNi/s200/Swiss+CD%255B1%255D.jpg" width="200" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="font-family: "times" , "times new roman" , serif; font-size: xx-small;"></span></b> </div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 6pt; text-align: center;" trbidi="on"><b><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: large;">Want to Know if the OVDP Program is Right for You?</span> </span></span></b></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s1600/OVDPLaw.JPG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="225" data-original-width="503" height="143" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhneN1iz-ZWjd7l9aguODX95crIYKaHX5xG1kum3ws32BAc8vGhqqny5dX_f4W986ra1NgIiU__fKNqTnu5lyLwnLTuEQKBsU9u1VlAkkDvO8elRdjAAzxfdjRjHLlvRZbdG0qgsQzSxAE/s320/OVDPLaw.JPG" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><strong><span style="font-size: medium;"><span style="font-family: "times" , "times new roman" , serif;"><span style="font-size: xx-small;"><span style="font-size: small;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Contact the <b>Tax Lawyers </b></span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at</span></span><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></b><span style="font-family: "times new roman" , "serif"; mso-fareast-font-family: "Times New Roman";"></span></span></span></span></strong></div><div align="center" class="MsoNormal" style="line-height: normal; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="font-size: large;">Marini & Associates, P.A.</span></span></b><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span><span style="color: black; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></span></div><div class="separator" style="clear: both; text-align: center;" trbidi="on"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s1600/Logo+2017+Bold.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="600" data-original-width="600" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiD4eOxljEkSXkc4qCOI65OUx2d0e6cAZd3lXf08hXeQWqtIy3ZJXrfWAKJdpCL_vRMB0AkuwHVdFEP-MuZqeaZYcLFZ_8co86SylhP1GETpEOjjBf_-0YRRDbyP2S3Tg-0zO8TkCe6YjE/s200/Logo+2017+Bold.jpg" width="200" /></a></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>for a FREE Tax Consultation contact us <span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">at:</span></span></strong></span></span></div><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"></span><span style="color: #2b00fe; font-size: medium;"><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.taxaid.com/"><span><strong>www.TaxAid.com</strong></span></a><strong> or </strong></span><span style="mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.ovdplaw./"><span></span></a><a href="http://www.ovdplaw.com/"><span><strong>www.OVDPLaw.com</strong></span></a></span></span><span style="color: #333333;"><a href="http://www.ovdplaw.comcomor/"></a></span><strong style="color: #333333;"> </strong></span></div><p style="text-align: center;"><span style="font-family: times;"></span></p><div align="center" class="MsoNormal" style="line-height: normal; margin-bottom: 0in; text-align: center;" trbidi="on"><span style="font-family: "times" , "times new roman" , serif;"><span style="color: #333333; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><strong>or </strong></span></span><strong style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888-8TaxAid (888) 882-9243</strong></div><p><span style="font-family: times;"><br /></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-23902437967613133152023-12-04T09:50:00.000-08:002023-12-04T09:50:19.615-08:00TC: Taxpayer Timely Filed Petition Due on Thanksgiving Day <p><span style="font-family: times;"><span face="Arial, Helvetica, sans-serif" style="color: #252525; font-size: 15px;"></span></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgr-U09jOtVxHcJ7nMIkehpm7aFUVbCFUdyZNLLiv05g1zEyGk01GoSZv8mibrzSqor3zC5YOcg3MH-r4hOl5WZS4f2-dvQMeX_iSi06WwFgvwn-1SlmJFJV7qFyiPoBT8G5tnQ5sCGZdSDbu4JHnDagMHlD694-Ltq7AVipx6GiaL6kn6_sPlVsopM05w/s512/Tax%20Court%20Petition.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" data-original-height="512" data-original-width="403" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgr-U09jOtVxHcJ7nMIkehpm7aFUVbCFUdyZNLLiv05g1zEyGk01GoSZv8mibrzSqor3zC5YOcg3MH-r4hOl5WZS4f2-dvQMeX_iSi06WwFgvwn-1SlmJFJV7qFyiPoBT8G5tnQ5sCGZdSDbu4JHnDagMHlD694-Ltq7AVipx6GiaL6kn6_sPlVsopM05w/w158-h200/Tax%20Court%20Petition.jpg" width="158" /></a><span style="font-family: times;"><span face="Arial, Helvetica, sans-serif" style="color: #252525; font-size: 15px;"></span></span></div><span style="font-family: times;"><span face="Arial, Helvetica, sans-serif" style="color: #252525; font-size: 15px;">The Tax Court rejected the IRS' attempt to dismiss as untimely a petition that was due on Thanksgiving. The court, citing </span><span face="Arial, Helvetica, sans-serif" plr-id="195495991-163917125" style="color: #252525; font-size: 15px;">Code Sec. 7451(d)</span><span face="Arial, Helvetica, sans-serif" style="color: #252525; font-size: 15px;">, held that since the court was inaccessible on the date the petition was due, the period for filing was tolled for the period of inaccessibility plus 14 days. (Sall,</span><span face="Arial, Helvetica, sans-serif" style="color: #252525; font-size: 15px;"> </span><span face="Arial, Helvetica, sans-serif" plr-id="39483418-169084363" style="font-size: 15px;"><a class="documentLink" data-ajax="false" data-cp-js-function="{"useHref" : true , "command" : "CP.doc.docLink" , "params" :[""]}" href="https://checkpoint.riag.com/app/main/docLinkNew?DocID=ifcf94c671d396e7ee4c4dd1ca4265af4&SrcDocId=T0FEDNEWS%3AIc2ed6b769280447-1&feature=tnews&lastCpReqId=198dbf&tabPg=4210" id="I30ea28208fc711ee9edcc484fa287167" name="I30ea28208fc711ee9edcc484fa287167" plr-id="73462354-144350062" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: 0px 0px; background-repeat: initial; background-size: initial; color: #145da4; font-size: 1em; font-weight: 700; letter-spacing: 0.01em; text-decoration-line: none;" target=""> </a><span><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: 0px 0px; background-repeat: initial; background-size: initial; font-size: 1em; letter-spacing: 0.01em;">161 TC No. 13</span></span></span><span face="Arial, Helvetica, sans-serif" style="color: #252525; font-size: 15px;">, </span></span>11/30/2023)<p></p><p plr-id="27675029-142346187" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">The IRS issued a deficiency notice to the petitioner. The IRS mailed the notice on August 26, 2022. The 90th day after August 26 was November 24, which was Thanksgiving Day (a federal holiday).</span></p><p plr-id="179179467-82539723" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">On the notice, the IRS listed the "last day" to file a petition in the Tax Court as November 25 (the day after Thanksgiving).</span></p><p plr-id="179179467-82539723" style="margin: 1.1em 0px; text-align: center;"><span style="color: #252525; font-family: times; font-size: large;"><b>However, The Day After Thanksgiving Was An Administrative Holiday For The Tax Court, So The Courthouse Was Closed.</b></span></p><p plr-id="179179467-82539723" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times; font-size: 15px;"><u>The Court's electronic filing system was operational and accessible at all relevant times.</u></span></p><p plr-id="51694045-110856961" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">Mr. Sall, the petitioner, mailed his petition to the Tax Court on Monday, November 28, and the court received and filed the petition on December 1, 2022. </span><span style="font-family: times;">The IRS filed a motion to dismiss the petition as untimely because Mr. Sall mailed it after the November 25 deadline. </span></p><p plr-id="157121156-65076359" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">Generally, a taxpayer must file a petition challenging a notice of deficiency within 90 days of the IRS mailing the notice. This deadline is jurisdictional and not subject to equitable tolling.</span></p><p plr-id="119295029-10291697" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">However, a filing deadline may be extended in certain circumstances. For example, the deadline for filing a petition is extended if the due date is a weekend day or a federal holiday, or if the "filing location" is inaccessible.</span></p><p plr-id="178796281-197445843" style="font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"><span style="color: #252525;">If the due date falls on a weekend day or a federal holiday, the due date is extended to the next business day. If the filing location is inaccessible, the due date is extended by the number of days the filing location is inaccessible </span><em plr-id="67262860-29891276" style="color: #252525;">plus</em><span style="color: #252525;"> an additional 14 days.</span> (<span plr-id="192783799-125335345"><span style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: 0px 0px; background-repeat: initial; background-size: initial; font-size: 1em; letter-spacing: 0.01em;"><b>IRC Sec. 7451(b)</b></span></span>)</span></p><p plr-id="22636605-172228345" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">The Tax Court was closed for Thanksgiving, a federal holiday, and was also administratively closed the following day, so the filing location was inaccessible on those two days. </span><span style="font-family: times;">The court received the taxpayer's petition on December 1, 2022, which was within the additional 14 days allowed by </span><span plr-id="56688400-81053552" style="font-family: times;">Code Sec. 7451(b)</span><span style="font-family: times;">. <br /></span><u style="font-family: times;"><br /></u></p><p plr-id="22636605-172228345" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><u style="font-family: times;">Moreover, because the filing location was inaccessible, the availability of the court's electronic filing system was immaterial.</u></p><p class="MsoNormal" style="color: #373739; text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have an IRS Tax Problem?</font></b></p><p class="MsoNormal" style="color: #373739; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; color: #373739; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><p style="box-sizing: border-box; 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margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s502/great%20results.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjNaMhXeXzhvaKGTXON1P0w89XFZrnO9066NIAScQssVX4PZP0eLy4TNoquLotaw0xMLLi6v6z-vkgwZIepNvYFD_gmTZtm2EwFVSK-wbmByqpsXJSBLnC4BxcDtezxyqQh9tIs99z8GrVHcvJUodx6nEIOKpiKCuR1yHtY8gMbh5mZp-YnlqtfUgN/s320/great%20results.jpg" width="320" /></a></td></tr></tbody></table></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0tag:blogger.com,1999:blog-6398232680738279469.post-76006171370341374552023-12-04T09:43:00.000-08:002023-12-04T09:43:53.329-08:00FinCEN Extends Beneficial Ownership Information Reports Deadline to 90 Days for New Entities<p plr-id="85890851-11669926" style="color: #252525; font-size: 15px; margin: 1.1em 0px; text-align: left;"><span style="font-family: times;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiJwxAOjVzQI_DY40ERUw3KoyJgQlTzHUXy5tOtjldolSacwTEKmlSC_wfAgnehqVgfuQTx2tOPQKgk9pojBUc-ieoU6ustrp92BrsE12lXSauoZfJgOdB4yLnBH9l_vq7hxDSCRAWnNFo4D0kKBHZXL6SfaBQmI3f0pzDT-F2yTEc4pezvNp1TBRjbMmg/s432/beneficial%20ownership.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="117" data-original-width="432" height="87" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiJwxAOjVzQI_DY40ERUw3KoyJgQlTzHUXy5tOtjldolSacwTEKmlSC_wfAgnehqVgfuQTx2tOPQKgk9pojBUc-ieoU6ustrp92BrsE12lXSauoZfJgOdB4yLnBH9l_vq7hxDSCRAWnNFo4D0kKBHZXL6SfaBQmI3f0pzDT-F2yTEc4pezvNp1TBRjbMmg/s320/beneficial%20ownership.jpg" width="320" /></a></span></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: times;"><br /></span></div><span style="font-family: times;">The Financial Crimes Enforcement Network (FinCEN) has <a href="https://public-inspection.federalregister.gov/2023-21226.pdf">extended the deadline</a> for new entities to file their initial beneficial ownership information (BOI) reports. </span><p></p><p plr-id="85890851-11669926" style="margin: 1.1em 0px; text-align: center;"><span style="font-size: large;"><b><span style="color: #252525; font-family: times;">Reporting Entities Created Or Registered In 2024 Will Now Have 90 Calendar Days, Instead of 30, From The Date Of Their Creation Or Registration To File Their Initial BOI Reports.</span><span style="color: #252525; font-family: times;"> </span></b></span></p><p plr-id="171198216-174050808" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">FinCEN has provided this extension to give new reporting entities more time to become familiar with FinCEN's guidance and educational materials and to resolve any questions that arise in the process of completing their initial BOI reports.</span></p><p plr-id="27675029-142346187" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">This extension only applies to reporting entities created or registered in 2024. </span></p><p plr-id="27675029-142346187" style="color: #252525; font-size: 15px; margin: 1.1em 0px; text-align: left;"><span style="font-family: times;">Reporting entities created or <b><i>registered in 2025 or later will have 30 calendar days </i></b>after their creation or<b style="font-style: italic;"> </b>registration to file their initial BOI reports.</span></p><p plr-id="179179467-82539723" style="margin: 1.1em 0px; text-align: center;"><span style="color: #252525; font-family: times; font-size: large;"><b>The BOI Reporting Deadline Hasn't Changed For Reporting Entities Created Or Registered Before 2024. Those Entities Must Still File Their Initial BOI Reports By January 1, 2025.</b></span></p><p plr-id="51694045-110856961" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;">FinCEN will not accept BOI reports until January 1, 2024. Reports should not be submitted to FinCEN before that date.</span></p><p class="MsoNormal" style="font-family: times; text-align: center;"><b style="text-indent: -0.25in;"><font size="5">Have A </font></b><b><span style="font-size: large;">Beneficial Ownership </span></b><b style="text-indent: -0.25in;"><font size="5">Problem?</font></b></p><p class="MsoNormal" style="font-family: times; line-height: normal; margin-left: 0.5in; mso-list: l0 level1 lfo1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; tab-stops: list .5in; text-align: center; text-indent: -0.25in;"><b></b></p><div class="separator" style="clear: both; font-family: times; text-align: center;"><b><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s246/stack+of+money+penalty.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="205" data-original-width="246" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1OjsoqM3L3VKSrKiz8s-mMOWzvVaUnIWV-7cM0PcoIFVSx-JOX6u9Taw_4KNhrC4KpZip5Oz7tk1ZIsmm6iAYDGxapxZuMtHrdirKn8tzUv9x4a5RkXYowANwhnVh_OTITwwpWlSuLIQ/s0/stack+of+money+penalty.jpg" /></a></b></div><div class="separator" style="clear: both; font-family: times; text-align: center;"><br /></div><div class="separator" style="clear: both; font-family: times; text-align: center;"><b style="text-indent: -0.25in;"><span style="color: #1a1a1a; font-family: "times new roman"; font-size: 15px;"><span> </span><span> </span></span><strong><span style="font-family: times;"><span style="color: #333333; font-family: "times new roman"; font-size: 18px;">Contact the Tax Lawyers </span><span style="color: black;"><span style="color: #1a1a1a; font-family: times new roman;"><span style="font-size: 18px;">at</span></span></span></span></strong></b></div><div style="-webkit-text-stroke-width: 0px; color: #1a1a1a; font-family: "times new roman"; font-size: 18px; text-align: center;"><span style="color: #252525; font-family: times;"><strong><span style="font-family: times;"><span style="color: black;"><span style="color: #1a1a1a; font-family: "times new roman";"><span style="font-size: large;"><font><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none; text-align: left;"><span style="color: black; font-family: times, "times new roman", serif;"><span style="color: #1a1a1a; display: inline; float: none;"><span style="color: #333333;"><span><span><span style="color: #333333;"><span><span style="color: #333333;"><b><span style="color: #333333;"><span style="color: #333333;"><b><span style="color: #333333;"><span>Marini & Associates, P.A</span><span>.</span></span></b></span></span></b></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span></span></strong></span><strong><span style="color: black; font-family: "times new roman";"> <br /><br /></span><div class="separator" style="clear: both;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFk7Ktt5PrJMjpN80nNUn2epmqdPJx_j_DL06eTKJHe1G9aQctuARWo6aeSMQ-0W0FZfNMMqFVzbnQyCJkfae2mwzhjj5cJB1prUcacaC13ZRKgEEtcJVJKzSKJgi8UDCBb5x6SJX_POzQinV0l4lUPbK-kWrdY-OtueGRE6wYp6k4CUa3DI7HT1n8/s720/2022%20Logo%202.PNG" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="327" data-original-width="720" height="145" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFk7Ktt5PrJMjpN80nNUn2epmqdPJx_j_DL06eTKJHe1G9aQctuARWo6aeSMQ-0W0FZfNMMqFVzbnQyCJkfae2mwzhjj5cJB1prUcacaC13ZRKgEEtcJVJKzSKJgi8UDCBb5x6SJX_POzQinV0l4lUPbK-kWrdY-OtueGRE6wYp6k4CUa3DI7HT1n8/s320/2022%20Logo%202.PNG" width="320" /></a></div></strong></div><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; color: #1a1a1a; font-family: "roboto condensed"; text-align: center;"><div style="font-family: "times new roman";"><div class="separator" style="-webkit-text-stroke-width: 0px; clear: both; font-family: "roboto condensed"; font-size: 18px;"><span style="color: black;"><br /></span></div><div style="-webkit-text-stroke-width: 0px; font-family: "roboto condensed"; margin: 0px 0px 15px;"><span style="font-size: medium;"><span><span><font><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">for a FREE Tax HELP Contact us </span><span style="color: #333333;"><span><span style="color: #333333;"><span style="font-family: times, "times new roman", serif;">at:</span></span></span></span></span></span></span></span></span></span></span></span></font></span></span></span><br /><span style="color: black;"><span><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="font-size: large;"><span style="color: #333333;"><a href="http://www.taxaid.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.TaxAid.com</span></span></a><span style="font-family: times, "times new roman", serif;"> or </span></span><span style="color: black;"><a href="http://www.ovdplaw./" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"></span></a><a href="http://www.ovdplaw.com/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"><span style="color: #5588aa;"><span style="color: blue; font-family: times, "times new roman", serif;">www.OVDPLaw.com</span></span></a></span></span><span style="transition-property: all;"><a href="http://www.ovdplaw.comcomor/" rel="nofollow" style="color: #c51c1c; text-decoration-line: none; transition: all 0.8s ease 0s;"></a></span><span style="font-size: 18px;"><br /><span style="color: #262626;"><span style="color: #333333;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333; font-family: times, "times new roman", serif;">or </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="color: #262626; font-size: 18px;"><span style="color: #262626;"><span style="color: #333333;"><span style="color: #333333;"><span style="font-weight: 700;"><span style="color: #262626;"><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333;"><span><span style="color: #333333;"><span><span style="color: #333333;"><span style="color: #333333; font-family: times, "times new roman", serif;">Toll Free at 888 8TAXAID (888-882-9243)</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></div></div></div><p plr-id="179179467-82539723" style="color: #252525; font-family: times; margin: 1.1em 0px;"><span style="font-family: times;"><span style="color: black; font-family: times;"> </span></span></p><p plr-id="178796281-197445843" style="color: #252525; font-family: times; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p plr-id="157121156-65076359" style="color: #252525; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><div class="separator" style="clear: both; color: #111111; font-family: times; font-size: 18px; letter-spacing: 0.05px; text-align: center;"><span style="font-family: times;"><span style="color: black; font-family: times;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s502/great%20results.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="196" data-original-width="502" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeBp5gYfn7lmuNs-awjsbixGeHFe9M-DPc0hS5_GJJKi1iv5eWdOuD_au3-BTCXwpJQ5OHWuXA2-m6CzUK5D31Q9X9sE4cstbn7TyOTjhCHAnt2dHZCKOJvO00E5BSPAsjZOxBQ-38UPdJcPLHUNpru8ov3wua2YurXDKxKUzVNu-hq9rjvmonFw-P/s320/great%20results.jpg" width="320" /></a></span></span></div><p plr-id="51694045-110856961" style="color: #252525; font-size: 15px; margin: 1.1em 0px;"><span style="font-family: times;"></span></p><p plr-id="157121156-65076359" style="color: #252525; margin: 1.1em 0px;"><br /><span style="font-family: times;"><br /></span></p>Ronald A. Marini, Esq.http://www.blogger.com/profile/14304486100168506240noreply@blogger.com0