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Tax Fraud

This archive displays posts tagged as relevant to tax fraud and underpayment. You may also be interested in the following pages:

Page 6 of 36

Corruption Crackdown in British Virgin Islands May Be the Start of Something Big

Posted  01/22/21
judge striking down his gavel
On January 18, 2021, the British government made a surprise announcement that they were convening an independent commission to investigate corruption, organized crime, and other governance failures in the British Virgin Islands.  BVI is infamous for its shell companies, lax oversight, generous tax policies, and general friendliness to those seeking to evade taxes—legally or otherwise.  It has also become the known...

Tagged in: Financial and Investment Fraud, Tax Fraud,

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Catch of the Week: Capital One pays $390M to resolve anti-money laundering (AML) violations.

Posted  01/22/21
Bank Building
Capital One, one of America’s ten largest banks, has agreed to pay $390 million to resolve allegations that it violated the Bank Secrecy Act and various other laws targeted at preventing money laundering. The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) specifically said that Capital One willfully failed to guard against money laundering from 2008 to 2014, including a failure to file...

Tagged in: Catch of the Week, Financial and Investment Fraud, Financial Institution Fraud, Money Laundering, Tax Fraud,

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IRS Makes its 2020 Whistleblower Report to Congress: Mandatory Awards Hold Steady, but Long Delays Continue

Posted  01/8/21
2020 proved to be a difficult year for most people, but within the tumult of the year the IRS Whistleblower Office continued to work and on December 29, 2020 provided its annual report to Congress (for fiscal year ending September 30, 2020). The report showed a mixed bag of success and difficulties in addressing tax fraud and awarding whistleblowers. The IRS Whistleblower Office made 169 awards to whistleblowers in...

Tagged in: IRS Whistleblower Reward Program, Statistics, Tax Fraud,

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D.C. Council Passes Amendment that Expands D.C. False Claims Act to Cover Tax Fraud

Posted  01/8/21
folder records
The D.C. Council has passed, by veto-proof majority, an amendment to its False Claims Act that expands the scope of the Act to cover tax fraud claims. The amended D.C. FCA will cover tax fraud claims against people and entities that file taxes in D.C., report at least $1 million in income, and understate their tax liability or seek a tax refund resulting in damages of $350,000 or more.  D.C. joins New York and Guam,...

Tagged in: FCA State, IRS Whistleblower Reward Program, Legislation and Regulation News, Tax Fraud,

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Top Ten State Healthcare and Financial Fraud Recoveries of 2020

Posted  01/8/21
person raising the U.S. flag
State and local governments are on the front lines of enforcing anti-fraud laws and play a critical role in ensuring that businesses and individuals are held accountable.  Whistleblowers with information about corporate misconduct involving healthcare, government procurement, financial regulation, and tax may find that state proceedings offer them the best option. More than 30 states have False Claims Acts that...

Tagged in: Auto Safety, Drug and DME Pricing, FCA State, Financial and Investment Fraud, Government Procurement Fraud, Government Programs Fraud, Healthcare Fraud, Medical Billing Fraud, Pharma Fraud, Provider Fraud, Tax Fraud, Top 10,

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December 7, 2020

A chain of supermarkets in the New York area has been ordered to pay $4.7 million to settle claims under the state False Claims Act that alleged the chain operated a series of tax avoidance schemes from 2012 to 2018.  The case against Food World entities Pine Tree Meat & Produce Inc., Food Jungle, Inc., Sonamoo, Inc., and CNI Meat & Produce, and owner Hi Jong Lee was sparked by a qui tam whistleblower and involved three schemes: the use of separate cash registers so cash purchases would not be recorded for tax purposes, the use of fake merchandise returns to underreport actual sales, and the payment of a majority of its employees in cash and off the books.  AG NY

Tagged in: FCA State, Tax Fraud, Whistleblower Case,

Catch of the Week: New York Sues Sotheby’s for Helping Art Collector Evade Millions in Taxes

Posted  11/13/20
artwork and paintings on a wall
This week’s Catch of the Week spotlights another tax dodge by the rich and powerful, but with a twist, implicating international auction house Sotheby’s, one of the world’s largest brokers of fine arts, jewelry, and collectibles. Sotheby’s stands accused of enabling a wealthy art collector client to fraudulently evade taxes on $27 million worth of art. Under New York tax law, art resellers who meet certain...

Tagged in: Catch of the Week, Tax Fraud,

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October 22, 2020

Jerry Taylor of North Carolina has been sentenced to five years in prison and ordered to pay more than $6.1 million in restitution for his role in a $9.4 million fraud scheme targeting North Carolina’s Medicaid program.  Along with his brother Tony and co-conspirators in Ohio and New York, Taylor submitted claims for behavioral health services benefiting local at-risk youth that were purportedly performed at companies he owned and operated with his brother, but that were in reality not actually performed or misrepresented in the claims.  In addition to defrauding Medicaid, Taylor also evaded taxes by failing to report more than $1.6 million in reimbursements in 2016 and 2017.  For those charges, Taylor will pay over $346,000 to the IRS.  USAO WDNC

Tagged in: FCA State, Healthcare Fraud, Medicaid, Medical Billing Fraud, Misrepresentations, Provider Fraud, Tax Fraud,

Proposed Changes to NY FCA Tax Provisions Rattle Potential Tax Fraudsters

Posted  10/16/20
Albany New York Capitol Complex buildings against blue sky
New York is one of several states that has provisions in its state False Claims Act (“NY FCA”) allowing whistleblower (or qui tam) suits for violations of the state’s tax laws. On August 3, 2020 (Senate) and October 7, 2020 (Assembly), the New York state legislature, introduced bills proposing revisions to the NY FCA’s tax provisions.

The Proposed Legislation

The Senate bill’s accompanying memorandum...

Tagged in: FCA State, IRS Whistleblower Reward Program, Legislation and Regulation News, Tax Fraud,

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Catch of the Week: Texas-Sized Indictment for $2 Billion Tax Fraud

Posted  10/16/20
texas longhorn bull standing in open grass field
Everything sure is bigger in Texas.  Bigger hair, bigger churches, bigger stadiums, bigger ranches, and bigger sky.  Oh, and as of this week, bigger billionaires committing bigger frauds! On Thursday, federal prosecutors in California charged Robert T. Brockman, a Houston tech executive, with hiding $2 billion in income from the Internal Revenue Service.  True to Texas form, David L. Anderson, the U.S. attorney...

Tagged in: Abusive Tax Shelters, Catch of the Week, Importance of Whistleblowers, IRS Whistleblower Reward Program, Money Laundering, Tax Fraud,

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