The international corporate headhunter Egon Zehnder has been accused of evading $13 million in New York state taxes in a fraud scheme according to a whistleblower lawsuit. The allegations in the suit say that the company, which has placed some of the top executives in the largest companies in the world, kept...
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Category: Tax Fraud
Tax evaders are costing the U.S. over $1 trillion each year using offshore accounts, cryptocurrency
The IRS Chief announced that tax evasion in the U.S. exceeds $1 trillion a year and is going up. Internal Revenue Service Commissioner Chuck...
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Hedge fund and manager pay New York $105 million to settle tax evasion case initiated by whistleblower
The New York State Attorney General Letitia James and New York City Corporation Counsel John E. Johnson have settled a state tax evasion case for $105 million against Thomas Sandell of Sandell Asset Management Corporation (SAMC), a hedge fund. It is alleged that Sandell, through his firm, recognized over $450 million in management and...
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Major Canadian cryptocurrency exchange Coinsquare ordered to hand over client info to federal tax authorities
A major Canadian cryptocurrency exchange Coinsquare of Toronto has been ordered to render its client information to federal tax authorities following a first-of-its-kind court ruling. The Federal Court issued an order compelling Coinsquare Ltd. to reveal customer details to the Canada Revenue Agency as it expands its enforcement among cryptocurrency holders and traders....
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Switzerland’s oldest private bank Rahn & Bodmer pays U.S. $22 million for helping holders file false tax returns defrauding IRS of millions
Rahn & Bodmer, Zurich Switzerland's oldest private bank, will pay $22 million to the U.S. government for conspiring to help U.S. account holders file false federal tax returns and defraud the IRS hiding hundreds of millions of dollars offshore. Rahn & Bodmer helped U.S. account holders file false federal tax returns and commit tax...
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Hedge fund founder Thomas Sandell to pay New York 105 million for evading NY city and state taxes. Whistleblower gets $22 million
Hedge fund founder Thomas Sandell paid $105 million to settle claims he fraudulently evaded New York and State taxes on more than $450 million on fees he earned.
In the settlement, a whistleblower will receive more than $22 million in reward, which is the largest recovery in New York state history under the False Claims...
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District of Columbia expands whistleblower law to allow individuals to bring suits for tax law violations and win awards upto 30%
A new law in Washington D.C. amends the District's False Claims Act to allow qui tam actions for violations of District tax laws. These are lawsuits through which private individuals assisting a prosecution can retain part of the taxes and...
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The Internal Revenue Service hiring independent consults to help find cryptocurrency tax evaders
The IRS sent out a statement of work (SOW) on May 12 requesting help from independent consultants to crack down on cryptocurrency tax non-compliance. According to the SOW, the IRS is seeking help from technology companies with crypto tax software to reconcile taxpayers’ reported cryptocurrency gains and losses on the tax returns. The process...
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Massachusetts accountant pleads guilty to money laundering and conspiracy to defraud IRS in Panama Papers info case
Massachusetts accountant Richard Gaffey has pleaded guilty in federal court to charges he helped a client evade U.S. taxes in a case stemming from a trove of leaked documents known as the Panama Papers. Mr. Gaffey was scheduled to go to trial March 6 but instead he pleaded guilty Friday to an eight-count indictment...
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Some states expanding their whistleblower laws to include tax whistlebloweing including California, Michigan and D.C.
A small but growing group of states are considering expanding their whistleblower laws to allow individuals with specific and undisclosed tax evasion to report this to the states and be eligible for a sizeable award on money collected. New York has such a law and over the last ten years has...
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