The United States Attorney for the Southern District of New York, announced that the United States has filed a lawsuit against DEUTSCHE BANK, A.G., DB U.S. FINANCIAL MARKETS HOLDING CORP., DEUTSCHE BANK SECURITIES, INC., BMY ACQUISITION CORP., BMY ACQUISITION LLC, BMY STATUTORY TRUST, and FIRST UNION NATIONAL BANK, now known as WELLS FARGO BANK,...

The Vanguard Group one of the world's largest investment funds with $3 trillion under management illegally evaded taxes through transfer pricing, says whistleblower David Danon, a tax attorney at Vanguard for nearly five years. He became aware of a transfer pricing arrangement while at Vanguard and its affect on corporate taxes. He filed a...

A Massachusetts businessman pleaded guilty to tax evasion for using nominee entities to hide ownership and control over his businesses and assets from the Internal Revenue Service (IRS), announced Acting Deputy Assistant Attorney General Larry J. Wszalek for the Justice Department's Tax Division and U.S. Attorney Carmen M. Ortiz for the District of Massachusetts. According...

New York's Department of Financial Services, may be seeking $300 million from Bank Leumi of Israel to rectify a criminal probe by the U.S. on allegations that the bank assisted Americans in tax evasion. In May, Credit Suisse Group AG (CSGN)'s main bank subsidiary, his office secured $715 million of the $2.6 billion penalty as...

In a federal tax evasion trial of a top Swiss bank executive Raoul Weil, is accused of conspiring to conceal up to $20 billion in U.S. taxpayers' assets in secret offshore accounts. The former head of the wealth management division for the Americas at UBS , Martin Liechti, began testified against Weil, the highest-ranking...

Suddenly, two successful U.S. corporations Burger King and Valeant Pharmaceuticals Inc. have announced their "inversion plans" to buy Canadian companies and move their seller's base to Canada in order to keep from paying U.S. tax rates. The question is whether this is legal tax avoidance or illegal tax evasion. Burger King is seeking to...

New York State has the most advanced whistleblower law in the country which, among other things, allows for whistleblower claims against state tax cheats and for the whistleblowers to collect a percentage of the moneys reimbursed. The question is, why is New York the only state to pass such...

The number of Americans giving up their U.S. citizenship is at an all time high because of the new rules created to pursue tax evaders. In the first half of this year 1,577 Americans gave up their citizenship. The law which is causing this is called the Foreign Account Tax Compliance...

Tobacco makers were able to avoid paying billions of dollars in federal excise taxes by reclassifying their "roll-your-own" tobacco products as pipe tobacco, and small cigars as large cigars, according to a new government report . As a result,...

An employee of the mutual fund giant Vanguard Group says it has evaded paying millions in state and federal taxes by using a tax shelter for its 40 years in business. These allegations were made in a lawsuit filed by whistleblower David Danon a former tax manager in the company's general counsel...