Barcelona Star Lionel Messi In A Hot Mess: Set To Face Tax Evasion Trial
A Spanish judge ruled that Barcelona and Argentina star Lionel Messi is to face trial on allegations of tax evasion. The judge rejected the prosecutor’s recommendation to drop the charges on the grounds that Lionel’s father was responsible for his finances. Messi and his father, Jorge, are accused of defrauding authorities of more than 4m […]
L.A. Fashion District: The Most Recent Target of the U.S. Government’s Crackdown On Money Laundering & The BMPE
The Los Angeles Fashion District spans 100 blocks, with over 2,000 businesses selling fashions and accessories at 30% to 70% off retail prices. Saturdays are the busiest Los Angeles Fashion District shopping days, when wholesale-only shops open to the general public. The Sunday shopping epicenter is Santee Alley, between Olympic and Pico Boulevards, where you’ll […]
FATCA’s October 1st Numbers: Healthy or Dysmal?
Dean Byrnes recently published his monthly update on FATCA registrations in a blog entitled, “Is FATCA Failing? What do the October 1st numbers say?” Dean Byrnes breaks it all down and analyzes the statistics in a way that only he can. What you are about to read might surprise you.
Why Are Banks Saying Sayonara to U.S. Expats?
Fidelity Investments appears to be the latest unintended consequence of the United States’ stepped-up efforts to collect taxes from its citizens and residents regardless of where they live and earn their money. Last July, Fidelity decided to bar its U.S. clients living abroad from buying or trading its mutual funds. Ironically, even though it has […]
The Second Coming of The Wolf of Wall Street?
Did the Wolf of Wall Street come in like a lion and go out like a lamb or is it back with a pack, and seeking revenge? You’d think that after bringing the global economy to its knees just a few years ago, that Wall Street would have cleaned up its act. But not according to […]
From Chipolatas to Weisswurst With A Side of Cherry Tomatoes: A Recipe For Whipping Up The Streamlined Offshore Penalty In Three Easy Steps
Before reading this blog, I make the following disclaimer. If it is getting close to lunch time and you can hear your stomach growling, you might want to put off reading this until after lunch. Readers who disregard this warning are doing so at their own risk. Calculating the offshore penalty within the Streamlined Domestic […]
CORPORATE TAX SHELTERS: ARE THE RISKS WORTH THE HYPE?
The majority of tax shelters are in full compliance with the tax laws, but an increasing number of these shelters have crossed the boundaries whereas they are being viewed as illegal, abusive tax shelters. So what’s the difference between a true business loss and a tax shelter loss? The substance of the event that gives […]
Changes to the Streamlined Procedures in the Offing?
In an article that appeared on Tax Connections last week entitled, “Changes To the Streamlined Version of OVDP To Be Announced Soon?,” author Ronald Marini, Esq. foreshadows several changes to the streamlined version of the Offshore Voluntary Disclosure Program. For those cynics who said, “I knew it! It was just a matter of time before […]
“I’ve Been a Bad, Bad Taxpayer” – A Look at the Certification for Non-Willfulness in Streamlined Procedures
Growing up, your mother probably resorted to sweetness to get you to confess to the broken window she knows your baseball caused. It was easier for you to take the blame then because her words were comforting and put your mind at ease. Well, the IRS has resorted to something quite similar. On June 18, […]
“Jersey Shore’s” Mike ‘The Situation’ Sorrentino Indicted on Charges of Federal Tax Evasion. Pleads Not Guilty
Hold onto your seats! As if Mike Sorrentino, the former “Jersey Shore” cast member’s legal woes couldn’t get any worse, they just did. Mr. Sorrentino pleaded not guilty on Wednesday, September 24, 2014 to failing to pay taxes on nearly $9 million in income. According to the indictment, Mr. Sorrentino earned this income trading off […]