Five Steps You Should Immediately Take If You Are Arrested

No matter who you are, getting arrested is a terrible experience. You will feel an array of emotions that run the spectrum from fear to embarrassment to anger. You may feel the urge to react with your emotions rather than logic, but it is imperative that you take proper steps to protect yourself following your arrest. This is your life and your future at stake, and what you do in the immediate aftermath of your Read More

How and Why to Disclose Offshore Accounts to the IRS

If you have offshore financial accounts that collectively contain more than $10,000 on any single day in the calendar year, you are legally required to report their details to the IRS every year. Failure to do so can result in heavy civil penalties and possibly criminal charges. In June 2014 the IRS announced important changes to its Offshore Voluntary Disclosure Program (OVDP), which allows taxpayers to Read More

The Basics of White Collar Defense: “What is a Grand Jury?”

Federal grand juries play an important role in the criminal justice system. They consist of 23 members maximum, of which 16 need to be present to create a quorum. These juries meet at routine intervals and normally sit for an 18-month term. Federal judges empanel and supervise grand juries, but don’t normally play a role in the investigations. The federal prosecutor is the primary government official responsible Read More

What to Do if You’re Under Investigation for a White-Collar Crime

White-collar crime covers a variety of nonviolent criminal offenses that involve some form of fraud. Examples include bribery (both foreign and domestic), embezzlement, tax evasion, and insider trading. These crimes often fall under federal jurisdiction and are investigated by the FBI, IRS, the Securities and Exchange Commission, and other federal agencies. Target letter If you are suspected of a white-collar Read More

Five Red Flags That May Trigger an IRS Audit

Although universally dreaded, IRS audits are actually quite infrequent. In 2014 less than 1% of all individual tax returns were audited, and that trend doesn’t look to change in 2015. To minimize the risk of being subjected to this stressful process, this blog entry presents and explains five “red flags” that could cause the IRS to take an uncomfortably close look at your return. Failure to report all of your Read More

Whatever You Do, Don’t Panic: How to Face an IRS Audit

Though nearly everyone fears a civil IRS audit, it’s a tax process that individuals and businesses know surprisingly little about. What you’ve seen on television and in movies is more dramatic and intense than reality. Sometimes, an IRS audit is resolved relatively easily and with little or no financial penalty. However, should you face an IRS audit, it’s important to take it seriously. Below are tips to keep in mind Read More