Switzerland’s recent decision to allow Swiss bank UBS to provide the Internal Revenue Service with information on 4,500 American account holders is expected to result in a wave of criminal prosecutions for tax evasion. The defendants in these prosecutions likely will not be limited to UBS account holders; London-based HSBC […]
In 2007, Arthur Farnsworth of Bucks County, Penn., was tried for failing to pay federal income taxes. Farnsworth’s defense was his belief that the income tax was voluntary. His argument failed to sway the jury, and he was sentenced to 27 months in prison. Try as they might, many people […]
The UBS is one of the world’s biggest banks and over the past few years has had an increasingly strained relationship with the U.S. government. In 2009, the U.S. government sued UBS for allegedly hiding secret Swiss bank accounts from U.S. tax authorities. In early 2010, UBS continued to contest […]
A former Louisiana state senator is accused of failing to pay $190,000 in federal taxes, and an Internal Revenue Service (IRS) agent says he spent 10 years investigating the case. Ed Handel, who worked for the IRS for more than 30 years, testified during the trial of former Sen. Charles […]
After 2 years of appeals over actor Wesley Snipes’ 2008 conviction on three misdemeanor counts of willful failure to file taxes, a recent development may have given Snipes’ defense team new legal ammunition. Kenneth I. Starr, Snipes’ former financial advisor and a key witness in the case against the actor, […]
The United States government may be victorious in a long-running battle with the Swiss government over US tax evasion. Swiss judicial and government officials are all moving toward agreement that US clients in Swiss banks must have their account data handed to the Internal Revenue Service (IRS). Switzerland’s largest bank, […]
The Texas oil industry is weathering tough times. The BP oil rig explosion in the Gulf of Mexico is causing a massive environmental disaster and giving the entire industry a black eye. It will almost certainly stop any expansion in offshore drilling. Meanwhile, Congressional Democrats want to repeal oil and […]
The legal and political climate has become increasingly unfavorable to individuals and businesses with federal tax controversies. The IRS is increasing the level of resources devoted to investigations and audits, and it is a near-certainty that increasing numbers of businesses and individuals will find themselves facing tax disputes. At Brown, PC, attorney […]