tax evasion

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Italy Takes Quirky Approach to Catching Tax Evaders

Authorities raid posh ski resort, find lots of hard-to-explain Ferraris

(Newser) - Italian authorities paid a not-so-friendly visit to a ritzy ski resort to try to put a dent in an entrenched culture of tax evasion: They traced all the Ferraris and other luxury cars parked there and found that 42 belonged to people who had declared incomes of $38,700 or...

Credit Suisse to Out US Tax Cheats

Move is in response to an IRS request

(Newser) - Heads up, mafiosos and unscrupulous millionaires: Credit Suisse AG intends to give you up to the tax man. Of course, you probably already knew that, because the bank sent notification letters to various US clients suspected of tax evasion last week warning them that it would soon hand over their...

12K Take IRS' Amnesty Deal for Offshore Loot

Agency pulls in $2.7 billion

(Newser) - Tax evaders are rushing to the IRS, cash in hand, thanks to a partial amnesty program aimed at recovering money in offshore bank accounts. In all 12,000 tax cheats came forward, the agency announced yesterday, bringing in a total of $2.7 billion. “The results we’re seeing...

$100M Tax Fugitive Turns Up in Caymans

Tycoon started massive Computerland retail chain

(Newser) - A charming entrepreneur may have to give up his globe-trotting ways and pay an outstanding $100 million tax bill, the Wall Street Journal reports. Investigators have tracked down William H. Millard, the California tech mogul who founded the once-massive computer retailing chain ComputerLand, in the Grand Cayman Islands. Authorities of...

Beijing: Artist Weiwei Owes $1.8M in Taxes

He cannot speak publicly, but his family denies it

(Newser) - Beijing tax authorities are seeking nearly $2 million in back taxes and fines from outspoken Chinese artist Ai Weiwei, who was released last week from nearly three months in detention. Before his release, Ai confessed to tax evasion and pledged to repay the money owed, Chinese authorities said. Ai is...

Supreme Court Turns Down Snipes' Appeal

Wesley Snipes continues to serve 3-year sentence for tax evasion

(Newser) - The Supreme Court refused to hear actor Wesley Snipes' latest appeal to get his conviction and prison sentence on tax charges overturned. Snipes was convicted in 2008 on three misdemeanor counts of willful failure to file income tax returns, and started a three-year term in a federal minimum security prison...

Kabbalah Centre at Heart of Tax Probe

Ex-CFO aims to 'bring down' operation

(Newser) - The Kabbalah Centre in Los Angeles is taking center stage as details emerge on a federal probe involving two of Madonna’s charities . The IRS is investigating whether the family in charge of the organization used its nonprofit dollars for personal gain, sources tell the Los Angeles Times . The Berg...

'WikiLeaks Banker' Rudolf Elmer Arrested in Switzerland
 Swiss Arrest WikiLeaks Banker 
Jan 20, 2011 5:04 AM CST

Swiss Arrest WikiLeaks Banker

Whistleblower Rudolf Elmer accused of breaking secrecy laws

(Newser) - From one legal mess to another: The Swiss last night arrested an ex-banker who appears to have broken the country's strict banking secrecy laws in spectacular fashion. Rudolf Elmer—who handed Julian Assange details on 2,000 holders of offshore accounts this week—is being detained while authorities investigate the...

Inside Wesley Snipes' Life Behind Bars

He's scheduled to enter prison today to serve a 3-year sentence

(Newser) - Wesley Snipes enters prison in Pennsylvania today to serve a three-year sentence for tax evasion—and though the minimum-security McKean prison camp isn't exactly a five-star resort, it's not as bad as it could be. The AP gives details on what his life will be like:
  • No fences: But he
...

Wesley Snipes ordered to report for jail term
 Wesley Snipes Ordered to Jail 
Nov 20, 2010 11:53 AM CST

Wesley Snipes Ordered to Jail

Judge rejects request for new trial

(Newser) - Wesley Snipes has been ordered to report to jail to begin serving his three-year sentence for tax evasion . A judge rejected the Blade star's request for a new trial, reports the BBC . "The defendant Snipes had a fair trial," he wrote. "The time has come for the...

Feds Focus Crime Probe on Karzai Brother

Afghan president's bro linked to tax evasion, extortion

(Newser) - Federal prosecutors in New York have launched a corruption investigation into business operations belonging to Afghan president Hamid Karzai's brother. Mamood Karzai, who is a US citizen, is being probed for tax evasion, extortion, and racketeering that may be linked in part to US loans he obtained to build his...

Wesley Snipes Heading to Prison

Appeals panel upholds 3-year sentence on tax charges

(Newser) - A federal appeals panel has upheld a three-year prison sentence on federal tax charges for film star Wesley Snipes. The 11th Circuit Court of Appeals in Atlanta concluded that the judge properly sentenced Snipes, who was convicted in 2008 of three counts of willful failure to file his returns. His...

US Firms Buck $60B in Taxes With Foreign Money Shuffle

'Transfer pricing' sends profits overseas—on paper only

(Newser) - Lexapro, one of the world's best-selling antidepressants, is made by an American company and sold exclusively in the US, but the US doesn't see a penny in tax revenue when you buy a bottle. Instead, your money goes around the world as part of a complicated transaction dubbed the “...

On His Way Out, Manhattan DA Zings Bloomberg

Robert Morgenthau, 90, leaves office this week

(Newser) - In 35 years as Manhattan DA, Robert Morgenthau has gotten along with every mayor of New York—except the current one. Mike Bloomberg, says Morgenthau, "doesn't want anybody around who doesn't kiss his ring, or other parts of his body." In a wide-ranging interview with the Wall Street ...

15K Yanks Turn Selves in for Offshore Tax Cheating

Asia joins Switzerland as hotspot for hidden assets

(Newser) - Prodded by the stick of a looming crackdown on offshore tax cheats and the carrot of an IRS amnesty program, some 14,700 rich Americans have turned themselves in, disclosing billions in hidden foreign assets. The "unprecedented" participation in the amnesty program surprised the IRS and advisers to the...

Neutral Swiss Becoming US Lapdogs, Critics Charge

'Active neutrality' policy questioned after Polanski, UBS decisions

(Newser) - Some Swiss politicians are griping that the country's prized neutrality appears to be sliding as the government adopts a more accommodating stance toward US authorities. The government agreed in August to turn over the names of thousands of suspected American tax dodgers banking with UBS, and Roman Polanski was busted...

Tax Collectors Use MySpace, Google to Find Deadbeats

Public profiles can provide valuable income information for revenue agents

(Newser) - Internet-savvy state tax collectors are using a new tool in tracking down evaders: social networking websites. Tax collectors are taking advantage of the fact that an individual’s MySpace or Facebook profile often contains quite a bit of professional information, the Wall Street Journal reports. Agents in Nebraska, for example,...

UBS to Hand Over Names of 4,450 Clients

(Newser) - UBS will hand over the names of 4,450 of its American account holders as part of a tax evasion settlement, the Wall Street Journal reports, and another 5,000 names will be produced under a special IRS amnesty program. UBS won’t pay a monetary fine. Those being turned...

Tax-Evader Crackdown Spreads to Hong Kong

(Newser) - The IRS and Justice Department crackdown on UBS is widening, reports the Wall Street Journal, as new documents reveal the efforts the bank took to keep its clients' wealth away from the taxman. Two recent cases have relied on channeling millions to a Swiss account owned by a Hong Kong-based...

US Settles Tax Evasion Suit With UBS, Swiss

(Newser) - Swiss bank UBS AG has agreed to a settlement with the US to resolve a lengthy tax evasion probe, the Wall Street Journal reports. The details are currently under wraps, as the final documents await signatures. UBS will likely hand the IRS the names of  8,000 to 10,000...

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