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IRS Blasted for Seizing Assets of People who Deposit Cash Under $10,000

On February 11 Congress blasted the IRS Commissioner John Koskinen on the Service’s use of civil-asset forfeiture laws, demanding to know why innocent small business owners are being target when they have committed no crime. 

This issue is two fold: 1) whether IRS collection officers are under pressure to fill quotas on assets seizures, which is prohibited by law to reward these people based on the amount they have collected; and 2) the IRS practice of seizing the bank accounts of people suspected of "structuring," that is, of making cash deposits worth less than $10,000 to avoid reporting requirements, when in fact small business owners may make several deposits under $10,000 for a variety of reasons and none of them are illegal.
I can say with personal experience this is a real problem.  In fact, I was involved in case where the IRS/DOJ seized the funds of a small business owner from his bank account and prosecuted him for "structuring" when in fact that person pa…

IRS Blasted for Seizing Assets of People who Deposit Cash Under $10,000

On February 11 Congress blasted the IRS Commissioner John Koskinen on the Service’s use of civil-asset forfeiture laws, demanding to know why innocent small business owners are being target when they have committed no crime. 

This issue is two fold: 1) whether IRS collection officers are under pressure to fill quotas on assets seizures, which is prohibited by law to reward these people based on the amount they have collected; and 2) the IRS practice of seizing the bank accounts of people suspected of "structuring," that is, of making cash deposits worth less than $10,000 to avoid reporting requirements, when in fact small business owners may make several deposits under $10,000 for a variety of reasons and none of them are illegal.
I can say with personal experience this is a real problem.  In fact, I was involved in case where the IRS/DOJ seized the funds of a small business owner from his bank account and prosecuted him for "structuring" when in fact that person p…

2015 Dirty Dozen Tax Scams

Each year the IRS posts the worst tax scams across America.   The IRS works with the Department of Justice and its criminal division to shut down these tax scams, but it’s a never ending saga and scammers steal billions of dollars each year of public funds.  Let’s take a look at this year's dirty dozen tax scam list:
Aggressive and threatening phone calls by criminals impersonating IRS agents. I have had numerous clients call me who received these phone calls.Hang up on these people and let them know you are sending their information to the FBI.
Fake emails or websites looking to steal personal information (phishing). If you get an email from what appears to be the IRS delete it and do not open it.Call a tax attorney or the IRS for assistance to determine if you have a real tax issue.
Identity theft continues to be a problem especially around tax time. File your tax return early, the IRS typically accepts the first return filed.So if you f…

2015 Dirty Dozen Tax Scams

Each year the IRS posts the worst tax scams across America.   The IRS works with the Department of Justice and its criminal division to shut down these tax scams, but it’s a never ending saga and scammers steal billions of dollars each year of public funds.  Let’s take a look at this year's dirty dozen tax scam list:
Aggressive and threatening phone calls by criminals impersonating IRS agents. I have had numerous clients call me who received these phone calls.Hang up on these people and let them know you are sending their information to the FBI.
Fake emails or websites looking to steal personal information (phishing). If you get an email from what appears to be the IRS delete it and do not open it.Call a tax attorney or the IRS for assistance to determine if you have a real tax issue.
Identity theft continues to be a problem especially around tax time. File your tax return early, the IRS typically accepts the first return filed.So if you f…

Groping Chiropractor Sentenced for Bribing IRS Agent

The United States Attorney's Office in MA announced that a Chiropractor, Stephen Jacobs, has been sentenced to 9 months in prison for bribing an IRS agent.  Before this happened, however, he kissed a woman's feet while he was treating her and admitted to other inappropriate contact when he was giving a second woman a massage.   So he paid them $5,000 each because he was concerned that they would report him to the police or to the chiropractic board.  Then when the IRS audited him and quested him about the two payments to these women that he had deducted as a business expenses, he paid the IRS auditor $5,000 to issue him a favorable audit letter showing no additional tax for one year and a refund for another year.  The IRS auditor was wearing a wire when he paid him $5,000.  That was the end game for this guy.  Not the brightest bulb in the room.

Contact Joseph Wilson at 714-463-4430 or at Wilson Tax Law Group at www.wilsontaxlaw.com. SEE PRESS RELEASE BELOW Department of Justice …

Groping Chiropractor Sentenced for Bribing IRS Agent

The United States Attorney's Office in MA announced that a Chiropractor, Stephen Jacobs, has been sentenced to 9 months in prison for bribing an IRS agent.  Before this happened, however, he kissed a woman's feet while he was treating her and admitted to other inappropriate contact when he was giving a second woman a massage.   So he paid them $5,000 each because he was concerned that they would report him to the police or to the chiropractic board.  Then when the IRS audited him and quested him about the two payments to these women that he had deducted as a business expenses, he paid the IRS auditor $5,000 to issue him a favorable audit letter showing no additional tax for one year and a refund for another year.  The IRS auditor was wearing a wire when he paid him $5,000.  That was the end game for this guy.  Not the brightest bulb in the room.

Contact Joseph Wilson at 714-463-4430 or at Wilson Tax Law Group at www.wilsontaxlaw.com. SEE PRESS RELEASE BELOW Department of Jus…

Foreign Banks Blacklisted by the IRS

As part of the IRS' billion dollar effort to combat the war on offshore tax evasion the IRS has blacklisted certain Foreign Financial Institutions or Facilitators.   Thus, anyone who has assets at these foreign banks and who fails to properly report and account for these assets will pay 50% of the offshore penalty within the IRS Offshore Voluntary Disclosure Program and have a higher chance of criminal prosecution if they do not participate in the Offshore Voluntary Disclosure Program.

Click here to view the list of bad boy foreign banks

If you want to speak to a Tax Attorney who knows the offshore and foreign asset reporting rules and ways to minimize the exposure related to these offshore activities, feel free to contact the Wilson Tax Law Group at 714-463-4430.