Former UBS Client Sentenced to Prison for Hiding Offshore Bank Accounts From IRS
Another former UBS client has bit the dust. The Department of Justice recently announced that Gregg A. Kaminsky, an internet entrepreneur who served as CEO of Circlenet LLC, based in Atlanta, Georgia was sentenced for willfully failing to file a Foreign Bank Account Report. Unlike Raoul Weil and a few others who have held the government to its […]
If It’s Not One Thing, It’s Another
There is some evidence that PBJ is an effective way to deal with speeding tickets. That’s Probation Before Judgment” and not “Peanut Butter and Jelly.” A recent study in Maryland concluded that drivers who received a deferred disposition, as opposed to a conviction, were somewhat less likely to get another ticket. At the very least, […]
The Movers And Shakers For Corporate Tax Reform In the U.S.
Amy Sarfo of Law360 published a fascinating piece entitled, “11 Power Players In 2015 Business Tax Reform.” I’ve attached the article below: Momentum in Washington is growing behind the idea of a 2015 tax reform package, but lawmakers won’t be able to realize that possibility on such a tight deadline without a phalanx of power […]
What To Do Next After You’ve Been Pre-accepted Into OVDP
You’ve submitted your OVDP letter and attachments to the Voluntary Disclosure Coordinator and are reclining in your arm chair watching the “big game” while opening up the day’s mail. The upper left-hand corner of one of the envelopes in your pile is adorned with the IRS’s logo. You open it up. The letter is but […]
Is Making A ‘Quiet Disclosure’ In Today’s Environment A Smart Choice For A Foreign Taxpayer With An Undisclosed Foreign Account?
Raise Your Hands In The Air Like You Just Don’t Care
One of the classic Paper Chase cases, albeit from a different first-year course than the one that the late, great John Houseman taught, is 1891’s O’Brien v. Cunnard S.S. Co., Ltd. Mary O’Brien, an Irish immigrant on board a ship from Queenstown to Boston, held up her arm to be vaccinated against smallpox, a duty […]
Corporate Tax Reform: An Illusion or a Reality?
It has been a rallying cry that is as old as time and that rivals that of the standing ovation that the Rangers receive after scoring a power play goal: “Corporate tax in this country needs to be reformed.” Who is leading the charge? America’s chief executives. What is responsible for catapulting this into the […]