Archive

NYAG Schneiderman Announces Largest Tax Whistleblower Recovery In Office’s History

By the C|C Whistleblower Lawyer Team NY Attorney General Eric T. Schneiderman announced a $40 million settlement with Alabama-based Harbert Management Corporation, fund sponsor for Harbinger Capital Partners, a $26 billion hedge fund in NYC, for violations of the tax provisions of the New York False Claims Act. The settlement resolves whistleblower allegations that members of Harbinger’s investment manager failed...

UBS to Face French Tax Trial After Settlement Talks Fail

By the C|C Whistleblower Lawyer Team UBS AG, the Swiss bank, will stand trial in France for allegedly helping wealthy clients evade taxes by hiding funds overseas. UBS had been in settlement negotiations with French authorities, but the parties had been unable to agree on the size of the fine. UBS reportedly rejected a settlement proposed by French prosecutors that included a fine of $1.1 billion euros (about...

IRS Releases Encouraging Whistleblower Report for 2016

The Internal Revenue Service recently released its annual report to Congress regarding its whistleblower program and the results are encouraging, with hope for an even better 2017. Since 2007, whistleblowers have helped the IRS collect more than $3.4 billion in tax revenue and have been awarded more than $465 million for their efforts. Coming off of a strong 2015 in which the IRS awarded 99 whistleblowers a...

IRS Targets Pizza Pro President’s Pension Plunder

By the C|C Whistleblower Lawyer Team The IRS often, and often unfairly, gets a bad rap, frequently for doing exactly what it exists to do: collect taxes and catch those who try to cheat their way out of paying their fair share. A recent U.S. Tax Court decision, in a case brought by the IRS against Arkansas restaurant equipment licensing company Pizza Pro, demonstrates the essential role the Service plays in...

Tax Haven Weather Forecast: More Sunshine to Come

By Max Voldman Despite the UK’s  reputation for rain, British legislators are trying expose tax havens to sunshine. The United Kingdom’s House of Commons (Britain’s lower legislative body) unanimously approved a bill that would force multinational corporations to publicly report where they make their money and how much tax they pay (so called country-by-country reporting). If this were to become law, it...

Tax Enforcement Spotlight – Bank Julius Baer

By the C|C Whistleblower Lawyer Team This Tax Enforcement Spotlight features Bank Julius Baer & Co. Ltd. On Thursday, the Switzerland based financial institution agreed to pay a total of $547 million as part of a deferred prosecution agreement to settle criminal charges that the bank conspired to help many of its U.S. taxpayer-clients hide from the IRS billions of dollars in offshore accounts and evade U.S. taxes...

Tailor to the Stars Settles New York State Tax Fraud Claims for $5.5 Million

By Marlene Koury Mohanbhai "Mohan" Ramchandani, a sharply-dressed, self-marketed tailor to the stars, pled guilty to felony tax fraud charges involving a ten-year scheme to evade paying New York State sales and income taxes.  Mohan underreported his retail earnings and falsified his taxes to comport with his faith in numerology – the belief that numbers have a special significance or symbolism.  Rather than...