Why Do the Panama Papers Name So Few American Clients?

From The American Lawyer By Michael D. Goldhaber U.S. citizens get relatively few mentions in the Panama Papers. The explanation might be aggressive American tax enforcement—or inadequate U.S. measures to counter money laundering. Click here to read the rest of this article. Read More

Israeli Bank Secrets Smuggled in Necklace to Help U.S. Tax Cheat

From: Bloomberg By David Voreacos A Swiss banker used a toothpaste tube a decade ago to smuggle diamonds into the U.S. Prosecutors now say an Israeli bank employee devised a new way to help a U.S. client hide assets from the Internal Revenue Service: She carried account statements into the country on a USB flash drive concealed in her necklace. The businessman, Masud Sarshar, agreed to plead guilty to hiding Read More

Fla. Atty Pleads Guilty To Filing False Federal Tax Returns

By Nathan Hale Law360, Miami (July 27, 2016, 6:16 PM ET) -- A Florida attorney pled guilty in federal court Wednesday to filing false personal income tax returns for 2007-2012 that resulted in her underpaying her taxes by nearly $1 million for those years. Kathleen Kozinski, who owns a solo estate planning and probate practice known as Kathleen G. Kozinski PA in Jupiter, Florida, is accused of intentionally Read More

IRS And SEC Have Contrary Views On Disgorgement

From Law 360 On May 6, 2016, the IRS released a chief counsel advice[1] stating that disgorgement payments to the U.S. Securities and Exchange Commission in a corporate Foreign Corrupt Practices Act enforcement action are not tax-deductible. The corporate taxpayer in the CCA allegedly violated the internal controls and books-and-records provisions of the Foreign Corrupt Practices Act. The taxpayer entered into a Read More

Fed. Circ. Rejects Convicted Ex-CEO’s $18M Tax Refund Suit

By Christine Powell Law360, New York (June 10, 2016, 8:15 PM ET) -- The Federal Circuit in a precedential opinion on Friday rejected the former CEO of Qwest Communications International Inc.’s bid to recover almost $18 million in taxes after he forfeited millions in proceeds from stock sales as part of a criminal conviction for insider trading. A three-judge panel reversed the U.S. Court of Federal Claims’ holding Read More

Dennis Kainen and Alan Weisberg attend the Transition, Inc. 2016 Judicial Reception

Attorneys Dennis Kainen and Alan Weisberg recently attended the Transition, Inc. 2016 Judicial Reception. Check out a couple of pictures from the event below! Read More

Chicago Restaurant Tax Case Highlights Broad DOJ Authority

Law360, New York (May 25, 2016, 4:32 PM ET) -- The U.S. Department of Justice’s filing of criminal charges against a Chicago restaurant owner who failed to pay state sales tax demonstrates the perils business owners face if they underreport their gross receipts to avoid paying sales tax. Hu Xiaojun, who owns and operates nine restaurants in the Chicago area, was charged with federal wire fraud and money laundering Read More

Alan Weisberg Quoted in Norcal Record Article

Attorney Alan Weisberg was extensively quoted in a recent Norcal Record article about staying calm in a volatile stock market year. Click here to read the full story. Read More

Panama Papers Leak Puts Spotlight on Offshore Accounts

Law360, New York (May 2, 2016, 11:19 AM ET) -- Ivan H. Golden The Panama Papers leak last month is yet another reminder that U.S. taxpayers who are still using undeclared offshore accounts to hide wealth or avoid tax are at serious risk of discovery and should carefully consider disclosing their accounts before it is too late. On April 3, the International Consortium of Investigative Journalists Read More

Panama Papers Spark US Criminal Tax Evasion Probe

Law360, New York (April 20, 2016, 2:36 PM ET) -- The U.S. Department of Justice has launched a criminal investigation into the international tax avoidance schemes exposed by the Panama Papers leak, the International Consortium of Investigative Journalists confirmed Wednesday. The ICIJ, which had obtained 11.5 million previously secret documents from Panamanian law firm Mossack Fonseca & Co. earlier this month, Read More