irstaxlitigation Blog

Credit Suisse Pleads Guilty to United States Criminal Charge

On May 19, 2014, Credit Suisse, the second-largest bank in Switzerland, pleaded guilty to the criminal charge of conspiracy to aid and assist United States taxpayers in filing false income tax returns. Credit Suisse admits to facilitating tax evasion by wealthy U.S. taxpayers for decades leading up to the 2009 criminal investigation. The bank even […]

Swiss Banks Encourage U.S. Account Holders to Come Clean to Beat Deadline

A very interesting article in Politico re: Swiss banks encouraging clients to come in to the Offshore Voluntary Disclosure Program for FBAR violations.   These banks are afforded lower penalties if they can convince their clients to take part in the program.  See the article below:   Swiss banks are quietly warning wealthy U.S. clients […]

IRS Shutdown & Your Taxes

While only 9% of Internal Revenue Service employees — roughly 8,750 out of nearly 95,000 workers — are currently working, the underlying tax law remains in effect. That means “all taxpayers should continue to meet their tax obligations,” according to the IRS’s website. Need an IRS employee to answer a question, though? “That’s where there […]

In Reversal, IRS Gives Amnesty To Owners Of Secret Israeli Bank Accounts

The IRS overturned their previous decision and are allowing Bank Leumi clients who were kicked out of the program, proceed with the Offshore Voluntary Disclosure Program (OVDP). See below: Yesterday, as the Department of Justice was trumpeting its latest criminal case charging offshore tax evasion—this one against billionaire Beanie Babies creator Ty Warner—the Internal Revenue […]


Link: FBAR Prosecutions continue throughout Maryland and accross the U.S..  The Government is prosecuting the most serious offenses criminally.  Many more international cases are begining to be worked civilly by the IRS.  See below:   H. Ty Warner, the creator of Beanie Babies plush toys, was charged with tax evasion for failing to report […]

Tax Evasion Charges — Rapper Fat Joe goes to federal prison

Rapper Fat Joe turned himself in Monday to serve a four-month prison sentence stemming for tax evasion. The “Lean Back” rapper, whose real name is Joseph Cartagena, surrendered Monday, his attorney told Associated Press. The 42-year-old pleaded guilty in December after failing to pay income taxes in 2007 and 2008 on income that totaled more […]