Tax evasion

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.

HSBC Holdings Plc’s Swiss private banking unit agreed to pay about 294 million euros ($329 million) to settle a Belgian criminal probe into allegations it helped wealthy clients dodge hundreds of millions of euros in taxes.

More than 10,000 cryptocurrency investors face a decision as they open letters from the Internal Revenue Service informing them that they may owe taxes on their digital holdings.

About 80 former and current employees of Deutsche Bank AG are suspects in an investigation by German prosecutors into an alleged tax fraud, according to a person familiar with the matter.

A onetime business partner of Donald Trump’s hotel management company claimed in a court filing that the president’s firm evaded income taxes on a project in Panama and under-reported employee salaries there.

A federal court in Texas is allowing the IRS to learn the identities of clients it suspects of structuring offshore entities to avoid U.S. taxes.

A CPA from New York has been sentenced to 14 months in prison for filing a tax return in his own name that contained materially false information.

The House Ways and Means Committee held a hearing Thursday to examine what's behind the estimated gap of approximately $460 billion between taxes owed and actually paid.