Tax evasion

The U.S. Supreme Court agreed to review a ruling that critics say would give the Treasury Department and Internal Revenue Service a sweeping shield from challenges to their regulations.

Businessman Lev Dermen, 53, was found guilty Monday as part of a scheme to cheat the IRS out of $512 million through a program designed to promote clean fuels.

Leaders from the service’s Criminal Investigation unit and tax authorities from Australia, the U.K., Canada and the Netherlands met in Australia this week to set priorities in the fight against international tax crimes.

Internal Revenue Service officials said Wednesday they will be visiting approximately 800 taxpayers who earn over $100,000 a year and haven’t filed one or more tax returns in prior years.

The Internal Revenue Service has convinced nearly 80 percent of the taxpayers who received settlement offers after engaging in micro-captive insurance schemes to accept the settlement terms it recently offered them. But there are still thousands of other taxpayers who will be facing examinations.

The U.S., U.K., Canada, Australia and the Netherlands cooperated on gathering evidence, intelligence and information.

The Internal Revenue Service’s Whistleblower Office made 181 awards to whistleblowers in fiscal year 2019, totaling over $120 million and collected more than $616 million.

The average U.S. household is paying an annual surtax of more than $3,000 to subsidize taxpayers who aren’t paying all they owe, a new report from the Taxpayer Advocate Service found.

The bank admitted that it helped hundreds of American clients hide more than $1 billion in assets from the Internal Revenue Service and agreed to pay $192.4 million to resolve a decade-long U.S. tax investigation.

The agency's number of investigations in 2019 continued a general downward trend over the last few years, according to CI's 100th annual report.

Leaders of tax enforcement authorities from the U.S., Australia, Canada, the Netherlands and the United Kingdom met this week to discuss ways to deal with tax crimes and tax evasion, particularly involving cryptocurrency.

Over the last few years, captive insurance has become the tax shelter du jour for accountants and wealth planners looking to find ways to help their small business owner clients reduce their tax exposures. Now the IRS is cracking down on the scheme.

The Internal Revenue Service released a new set of tax gap estimates for tax years 2011, 2012 and 2013, indicating the tax compliance rate is mostly unchanged from previous years.

Authorities probe more than a dozen of the luxury brand’s current and former executives over an alleged tax-avoidance scheme.

The IRS considers Bitcoin and other virtual currency to be property and not fiat currency.

Almost 40 percent — or some $15 trillion — of the world’s foreign direct investment is “phantom capital” designed to minimize the tax bills of multinational firms, according to a study published by the International Monetary Fund.

His boss pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros.

There's a new front in the agency’s burgeoning scrutiny of the crypto industry.

Todd and Julie Chrisley, the stars of the reality TV series “Chrisley Knows Best,” were indicted by a federal grand jury in Atlanta on charges of tax evasion, bank fraud, wire fraud and conspiracy, while their accountant Peter Tarantino was also indicted on tax-related charges Tuesday.

The former chief executive officer of HSBC Holdings Plc’s Swiss private bank pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8 billion) as French prosecutors flex their muscles to tackle white-collar crime.