David W. Klasing Tax Law Blog
230 FOLLOWERS
David W. Klasing's Tax Law Blog provides current information on the Domestic and International Tax Climate to help you make informed choices. We are a boutique Tax, Estate Planning and Business Law Firm that additionally provides accounting, tax compliance and planning services.
David W. Klasing Tax Law Blog
17h ago
According to a Department of Justice press release, an Ohio man was recently sentenced to serve over seven years in federal prison after pleading guilty to tax crimes, money laundering, and gambling offenses. This story serves as an update to reporting that we brought you earlier this year. As with all of our blog posts ..read more
David W. Klasing Tax Law Blog
4d ago
Despite claiming to offer health services to Medicare beneficiaries, husband and wife Noli and Isabel Tcruz engaged in a kickback fraud scheme, bribing physicians for patient referrals and stealing from government programs. They brought in millions in the process, only to be sentenced for their crimes recently in September 2024. After shutting down their healthcare ..read more
David W. Klasing Tax Law Blog
4d ago
One area of the law that our International Tax Attorneys & CPAs keep a constant eye on is the assessment of FBAR penalties. These penalties can either be assessed as “willful” or “non-willful” penalties depending on your alleged actions, or inactions, but until recently, the question of what counts as “willful” has been somewhat up ..read more
David W. Klasing Tax Law Blog
1w ago
As the IRS continues to investigate and prosecute tax evasion schemes at a growing rate, brothers-in-law Assad Baragzai and Rajesh Mathew are two of the most recent defendants to be criminally prosecuted for tax crimes. Both Baragzai and Mathew pleaded guilty in recent months to making and subscribing false returns after underreporting income from their ..read more
David W. Klasing Tax Law Blog
2w ago
Something can be “illegal” for tax purposes but does not typically turn criminal and many financial crimes and tax issues come up against this line, dancing on both sides for months or years before finally landing on one side or the other. When it comes to IRS enforcement, you might see plenty of criminal and ..read more
David W. Klasing Tax Law Blog
2w ago
According to a Department of Justice press release, an Austin, Texas, man pleaded guilty to filing a tax return that falsely underreported the capital gains he earned from selling $3.7 million worth of bitcoin. This case highlights the potentially serious consequences of failing to accurately report cryptocurrency transactions to federal and state tax authorities. If ..read more
David W. Klasing Tax Law Blog
3w ago
According to a Department of Justice press release, a film producer and an Australian accountant have been indicted for their roles in a decades-long conspiracy to defraud the United States by concealing over $25 million in income and assets offshore. This case highlights the potentially severe repercussions of evading federal income tax. If you have ..read more
David W. Klasing Tax Law Blog
3w ago
In recent years, the IRS has been employing a tool to get delinquent taxpayers to pay attention to their debts: passport revocation. These could leave taxpayers in a difficult situation, especially if they live overseas as expats. When a taxpayer owes $62,000 or more in unpaid taxes, penalties, and interest to the IRS, the IRS ..read more
David W. Klasing Tax Law Blog
1M ago
U.S. Taxes are not known for being easy, and they can become even harder when you live and work in another country. American citizens living overseas often contend with U.S. taxes and tax obligations in their new country of residence. United States citizens and green card holders living abroad are taxed in a very similar ..read more
David W. Klasing Tax Law Blog
1M ago
According to a Department of Justice press release, an Ohio man pleaded guilty recently to failing to pay more than $750,000 in employment taxes and failing to file employment tax returns. This case highlights the serious legal repercussions for employers and individuals who neglect their payroll tax obligations. If you have failed to file employment ..read more