What is the difference between tax evasion, and a simple mistake?

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In most tax audits the IRS is only attracted in collecting the taxes owed, along with interest plus a few penalties. Possibly the IRS might inflict a negligence penalty or a late filing penalty fee. However, if during the tax audit the IRS suspects that you have committed tax fraud they can inflict a civil tax fraud penalty. The civil tax evasion penalty is equates to 75% of the tax owed, plus interest on the penalty. Worse yet the IRS tax auditor might ask the tax evasion referral specialist to look at your case to see if it should be sent to the IRS Criminal Investigation unit for criminal tax prosecution. The IRS tax evasion referral specialist is usually not a tax lawyer, however, he has experience in tax fraud cases, and will seek the advice of the IRS’ own tax evasion lawyers for help if it seems essential.

 

Felony Tax Evasion crimes include filing a false tax return, tax evasion, filing false documents, failure to collect employment taxes, failure to pay taxes, and failing to file a tax return.

The penalties for criminal tax evasion are very serious. They range up to 5 years in jail, plus fines of up to $500,000, plus the costs of prosecution for each separate tax evasion crime. Once the criminal tax evasion case is finished the IRS Criminal Investigation unit will refer the case back to the IRS Examination Division where the taxes will be assessed, and the IRS can be likely to add on the civil tax evasion penalty, on top of any criminal tax evasion fines.

 

“What is the difference between tax evasion, and a simple mistake?” Generally tax evasion involves an intentional wrongdoing. Mere carelessness is not tax evasion.

The IRS decides whether tax evasion has been committed by looking for badges of tax evasion. These badges include:

 

  • Understatements of income;
  • Inadequate records;
  • Failure to file tax returns;
  • Implausible or inconsistent explanations of behavior;
  • Concealment of assets;
  • Failure to cooperate with tax authorities;
  • Engaging in illegal activities;
  • Attempting to conceal illegal activities;
  • Dealing in cash; and
  • Failure to make estimated tax payments

 

 

If you have any of these tax evasion problems and the IRS audits you, you may need to engage a felony tax evasion lawyer. Actions you take during the course of a tax audit can turn a run of the mill tax controversy into a tax evasion case. For example, lying or giving evasive answers to IRS investigators, delaying tactics, and other actions designed to mislead IRS agents are all indicia of felony tax evasion.

 

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An experienced tax evasion attorney can help you navigate the treacherous waters of an IRS tax audit, and help formulate an effective strategy. Whether and when to answer questions from the IRS, or whether to stand on your 5th Amendment rights, are questions that only a tax fraud lawyer can help you answer. Your financial freedom, as well as your personal freedom may depend on the right answers. For example in one recent case handled by affiliated tax lawyers at Wise Laws, the IRS alleged that our client had failed to report over $200,000 in income and didn’t file tax returns for more than 4 years. Nevertheless we ultimately settled the case for much less than the IRS first demanded, and without paying any tax evasion penalties.

 

If you or your accountant even suspects that you might be subject to a criminal or civil tax evasion penalty you owe it to yourself to arrange for an appointment with Wise Laws.

 

24 Hours 7 Days per week LOCAL Best Lawyer For Tax Evasion

Bernie Madoff : Scamming of America – The $50 Billion Ponzi Scheme

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Forbes:”If indeed, $50 billion was lost, as apparently Madoff claims, it is the largest such fraud in history, and one that might even shame the conman whose name is attached to this brand of deception. In 1920, Charles Ponzi, an Italian immigrant, began advertising that he could make a 50% return for investors in only 45 days. Incredibly, Ponzi began taking in money from all over New England and New Jersey. By July of 1920, he was making millions as people mortgaged their homes and invested their life savings. As with all frauds, he was discovered to have a jail record and was indicted on 86 counts of fraud. Some tens of millions of dollars were invested with him.”

In the streamlined (if somewhat simplified) opening of Ripped Off: Madoff and the Scamming of America, it is noted that “he puts a face on what we’ve all been feeling.” It’s a succinct and accurate characterization of the man who ran an elaborate, decades-long Ponzi scheme, bilking countless private investors and charities out of an estimated $65 billion dollars. The disclosure of his fraud, in the midst of the worst economic landscape since the Great Depression, grafted the face of a real-life villain onto the greed and excess of the Bush years–it’s hard to personify (or even understand) a credit default swap or a NINA loan, but this was a guy that we could point at and say, “Him! Get him!”

The History Channel’s short documentary examination of the Madoff scandal utilizes interviews with journalists, historians, and victims, in addition to some excellent archival footage (particularly those chilling tapes of Madoff holding court in the late 1990s as a wise elder statesman of the financial world). The special contains some valuable biographical information, not only of Madoff’s humble beginnings as a Queens-born stock broker, but of Carlo Ponzi (the namesake of the Ponzi scheme) and other con artists who operated in Madoff’s style, though perhaps not to his excess.

There’s plenty of solid information to be found here–how the lure of the Madoff investment was its exclusivity (he didn’t let just anyone throw away their money with him) and it’s slow steady performance (one victim notes, quite convincingly, “this was not a get-rich-quick scheme”); the tale of Harry Markopolis, the financial analyst who attempted, for the better part of a decade, to alert the SEC that Madoff was a crook; and the tragic story of Rene-Thierry Magon de la Villehuchet, the hedge fund operator who responded to the news that his fund’s $1.4 billion investment with Madoff wasn’t worth the paper it was printed on by slashing his wrists in his Manhattan office.

The documentary moves a breakneck pace, a flurry of images and definitions and images and soundbites, though for all of the information it contains, it occasionally sacrifices nuance for the sake of a quick pulse. The misfortune of Ripped Off is that it follows Frontline’s superior examination of the scandal, The Madoff Affair, into the marketplace; that program was simply stronger, with better access to more people on the inside and a more in-depth analysis of the Madoff story. Taken on its own terms, however, Ripped Off is a solid, if less than spectacular, television documentary program.

Intellectual property law and examples

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Patent, Trademark, and Copyright Lawyer

Our intellectual property lawyers help shield, protect, and keep you safeguarded under the law. We keep our prices and costs low because we know that many other intellectual property lawyers tend to inflate their fees as IP lawyers.

 

Wise Laws best intellectual property lawyers can help you guard, license, and enforce your intellectual property rights. We handle a high capacity of trademark and copyright registrations as well as bring and protect intellectual property lawsuits. We also protect individuals threatened with copyright infringement lawsuits dealing with peer to peer networks and the bit torrent sites.

 

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Intellectual property has encouraged business development while concurrently creating a possible minefield of legal battles and predicaments. The multilayered process of identifying, protecting, defending, maximizing and enforcing intellectual property rights requires a multidisciplinary method, and our intellectual property lawyers have the knowledge needed to supply results.

 

Some Topics Our American Intellectual Property Lawyers Can Handle:

 

  • American Copyrights registration, licensing & protection
  • American Copyright Applications
  • American Trademarks registration, licensing & protection
  • American Trademark Applications
  • American Trade Secret protection
  • Freedom to Operate Analyses
  • Infringement or Non Infringement Opinions
  • American Patent Applications
  • American International IP Law

 

A patent application has often been noted by lawyers as the most complex and layered legal document to prepare and put together because it must conform to strict legal guidelines and regulations, so as to result a patent in America and beyond is valid and enforceable.

 

American Copyright Law

We have dealt with wide range of Angie copyright issues concerning software, digital music, publishing, kid books, graphic design, and more. Copyright law awards a copyright owner a set of exclusive rights to his or her appearance of an idea or information. American copyright may survive in a wide range of creative, intellectual, or artistic forms, comprising poems, plays, novels, movies, musical compositions and recordings, paintings, drawings, sculptures, photographs, and software.

 

American Copyright Law Issues

 

  • American Copyright registration, licensing and protection
  • American Copyright litigation
  • American Drafting work-made-for-hire agreements
  • American Licensing agreements
  • American Publishing contracts
  • American Distribution agreements
  • American Digital Millennium Copyright Act Lawyers
  • American Music clearance Lawyers

 

American Copyright Infringement

American copyright infringement occurs when the unlawful use of the protected work violates the rights of the owner. American copyright infringement has come to be very problem oriented with the introduction of the Internet. Before the web American copyright infringement was much easier to catch.

 

American Trademarking Lawyers

We have knowledge dealing with all stages of American trademark selection, protection, and enforcement and we have operated on American trademark issues in a wide range of businesses including software companies, web businesses, pharmaceutical companies, and restaurants. Whether you are getting ready to a launch a business in America or a product or you have been operating for years, American trademark protection of your company, product name, design, color, slogans or packaging is crucial.

 

For more specific about trademarks please contact our American Trademark Lawyers

American Patent Lawyer Process

If you have established an invention and seek to protect and guard it, you need an knowledgeable American patent lawyer licensed with the state and shown with the United States Patent and Trademark Office USPTO who can escort you through the patenting procedure. Your American patent application will either be a Utility, Design, Plant, or Provisional Application. During our Angie patent law session, we will inform you as to which type of application is correct for your invention.

Largest lawsuit against an auditor goes to court for $5.5 billion

Colonial Bank in Miami Beach, on August 17, 2009, days after it failed. The bank’s fraud with Taylor, Bean & Whitaker is the subject of a lawsuit against its auditor, PricewaterhouseCooper, which failed to catch the fraud for seven years. John VanBeekum Miami Herald

The largest-ever lawsuit against an auditing firm is set to open Monday in a Miami-Dade County Circuit Court, pitting Big Four firm PwC against a trustee of the defunct Taylor, Bean & Whitaker Mortgage Corporation.

At stake: $5.5 billion.

The lawsuit was filed in 2013 by a trust formed following the bankruptcy of Ocala-based Taylor, Bean & Whitaker, which in the early 2000s was one of the nation’s largest mortgage companies. The firm was raided by federal agents in 2009 for its part in a seven-year, multibillion-dollar fraud scheme with Colonial BancGroup.

According to the lawsuit, the fraud went undetected by PwC, the independent public auditor in charge of auditing Colonial, as a result of “gross negligence.”

The $5.5 billion action is one of a wave of suits against major auditing firms, including PwC, in the aftermath of the 2009 banking crisis. Most have alleged faulty work, said Jonathan Perlman, equity partner at Miami-based firm Genovese Joblove & Battista, who has prosecuted several cases against auditing firms. A majority of the cases have settled, including a suit brought against PwC for the alleged negligent auditing of failed brokerage MF Global Holdings Ltd. PwC paid $65 million in a settlement.

Few of the suits have gone to trial, Perlman said.

Still, Steven Thomas, lead trial lawyer for the trust, said he is confident this suit will succeed.

Thomas, who has has obtained several multimillion-dollar settlements and verdicts in cases involving negligent audits, said PwC’s alleged negligence is the “worst” of any case he’s had.

As early as 2002, six top executives at Taylor, Bean & Whitaker, including chairman Lee Farkas, colluded with two executives at Colonial to sign off on mortgage sales that didn’t exist. Colonial financed Taylor, Bean & Whitaker’s mortgages, but in order to bypass the federal lending limit, Colonial started registering loans from the mortgage company as sales instead.

Circumventing the lending limits allowed the fraud to grow exponentially as executives at each company worked to falsify documents and computer entries and shift money between Colonial bank accounts. Both Colonial and Taylor, Bean & Whitaker were raided on Aug. 3, 2009, and later filed for bankruptcy, leading to the sixth-largest banking failure in U.S. history.

Farkas was sentenced to 30 years in federal prison. Catherine Kissick at Colonial, who worked most closely with Farkas, received eight years in prison as part of a plea deal.

 

Feds: Ex-mob boss Salemme, nabbed for murder, was on the run

This is a photo released by the FBI showing reputed New England Mafia leader Francis P. “Cadillac Frank” Salemme, after his arrest Aug. 11, 1995, in West Palm Beach, Fla. Salemme has been charged with lying to investigators about his role in the 1993 killing of a nightclub owner in order to get a shorter sentence for his racketeering conviction. Salemme, 71, was charged in 1995 with participating in eight murders. He pleaded guilty and agreed to cooperate with federal investigators. He was astar witness for the government in the trial of corrupt FBI agent John Connolly Jr. (AP Photo/FBI)

By MATT STOUT

Former New England mafia godfather Frank “Cadillac” Salemme was ordered held without bail today on charges he murdered a federal witness after prosecutors say he went on the run from a witness protection program.

Salemme, appearing in federal court today wearing baggy brown pants, sneakers and a blue t-shirt, did not challenge a detention order and waived his right to a probable cause hearing before being led away in handcuffs.

The 82-year-old mobster was smiling at times and even joking during his brief court appearance: As he was led into the courtroom, he quipped to long-time federal prosecutor Fred Wyshak, “Fancy seeing you here.”

Salemme is charged with the murder of a witness on May 10, 1993, according to a criminal complaint. Wyshak confirmed outside the courtroom that the murdered witness, who was not named in court, was nightclub owner Stephen DiSarro.

According to an indictment of another aging former mobster made public earlier this summer, Salemme and his son, Frank Salemme Jr., murdered  DiSarro on that date. DiSarro’s remains were found behind a mill in Providence in late March.

The initial Salemme revelation came in the indictment in June of ex-La Costa Nostra gang member Robert P. DeLuca, 70, on charges of lying to federal investigators about DiSarro’s disappearance and murder.

The Salemmes had a “hidden interest” in DiSarro’s Channel club, and that relationship came up during criminal investigations in the early 1990s, according to the DeLuca indictment.

The indictment on the murder charges against Salemme has been sealed from the public.

Salemme, who was the boss of the New England La Cosa Nostra in the 1990s until he was indicted on racketeering charges in 1995 and convicted in 1999, was arrested this morning in Connecticut.

Salemme was “fleeing from potential prosecution” and had left his home in Atlanta, Ga., Wyshak said.

Salemme’s lawyer, Steven Boozang, denied that his client was on the run.

“He was on his way back to answer any charges,” Boozang told reporters after the hearing. He said Salemme denies the charges and is determined to bring the case to trial.

Sourced From – http://www.bostonherald.com/news/local_coverage/2016/08/feds_ex_mob_boss_salemme_nabbed_for_murder_was_on_the_run