Sam Wyly committed tax fraud with offshore trusts, Judge says
comments feed By Anthony Aarons and Erik Larson From Bloomberg A federal judge in Texas ruled that former billionaire Sam Wyly defrauded the IRS by shuffling assets among a network of offshore trusts...
View ArticleIRS seeks court order to make Facebook turn over info related to asset transfer
comments feed By Kelly Phillips Erb From Forbes The U.S. Department of Justice filed a petition this week to force social networking company, Facebook Inc., to turn over information to the Internal...
View ArticleFb, Leprechauns and the Cayman pot of gold
comments feed From Business True Breaking News As I attempted to kind out the way in which firms like Fb are utilizing Eire to decrease their tax payments, I used to be starting to assume that it...
View ArticleBitcoin has a lot of positives and negatives
comments feed By Jim Rickards, The Daily Reckoning From Business Insider At various times in history, feathers have been money, shells have been money, dollars and euros are money. Gold and silver are...
View ArticleTAX EVASION: Cayman Islands and US Taxpayers
comments feed BY GARY S. WOLFE, ESQ. From California CEO Two Cayman Island financial Institutions plead guilty to aiding US taxpayers in hiding more than $130m in offshore accounts. In March, 2016 the...
View ArticleCourt affirms fraud award in Tax-Shelter case
comments feed By JEFF D. GORMAN From Courthouse News Service (CN) — Consulting firm Grant Thornton must pay nearly $40 million in damages to a hotel owner for fraud and negligence in its tax advice,...
View ArticleEwin James: Trump and Obama’s legacy
comments feed By EWIN JAMES. Some people have begun screaming that President Donald Trump, by signing the Executive Order to begin dismantling Obamacare, is determined to destroy the legacy of Barack...
View ArticleCayman Islands: FATCA repeal on agenda of US Republicans
comments feed From IFC Review. Washington’s Foreign Accounts Tax Compliance Act, known as FATCA, will be assailed afresh as lawyers and lobbyists renew efforts to repeal the law as part of President...
View ArticleWSJ: IRS Using New Tools to Find If You Are Hiding Money Overseas
comments feed By F McGuire From Newsmax The Internal Revenue Service reportedly is getting better at finding secret stashes of overseas cash. As a result of the government’s prying eyes, “tax evaders...
View ArticleWomack sentenced to federal prison for lying under oath [about her Cayman...
comments feed By James Dornbrook From Kansas City Business Journal Kansas City businesswoman Cheryl Womack was sentenced to one year and six months in federal prison without parole and ordered to pay...
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How reinsurers help hedge funds shelter taxes
comments feed By Sonali Basak From Bloomberg It’s not the warm waters that have attracted so many corporations to places like Bermuda, the British Virgin Islands and the Cayman Islands. It’s how these...
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US: Dominican national pleads guilty to identity theft and fraud
comments feed By NELSON A. KING From Caribbean Life The United States Department of Justice (DOJ) says a Dominican Republic national who lived in Lawrence, Mass., has been sentenced to 11 years in...
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Stanford investing billions offshore in Central America and Caribbean, tax...
comments feed By Brian Contreras From Stanford Daily Stanford has nearly 10 billion dollars invested in Central America and the Caribbean, analysis of the University’s tax returns shows. Held offshore...
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Not-so-homegrown home sales
comments feed By Alison Rich From The MReport There’s international appeal in U.S. real estate, and, according to recent IRS data, certain countries seem especially smitten with it, ZillowResearch...
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US: Ninth Circuit decision for IRS affects shifting of income to tax havens
comments feed By Peter J Reilly From Forbes The Ninth Circuit is generating a lot of excitement this week. Probably most exciting is its ruling that open carry is a constitutional right protected by...
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Making a living scamming the scammers
comments feed A12TCB Senior elderly lady at home using her new laptop computer and its technology By Jamie Rigg From engadget Kitboga’s made a career out of wasting time. “Well, my grandchildren were...
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Facebook, Coke could face tax hit after ruling against Medtronic
comments feed By Lynnley Browning and Sony Kassam Bloomberg News From Accounting Today Last week, Medtronic Plc suffered a legal setback in its bid to avoid a $1.4 billion U.S. tax bill — a ruling...
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