If you've been following the UBS tax fraud story, you're aware that A) UBS is a huge Swiss bank accused of helping rich Americans hide up to $20 billion in off shore accounts to avoid paying taxes, and B) that sleazy Phil Gramm, former U.S. Senator and current economic adviser to John McCain, is a vice chairman for UBS (when he's not investing in porn films).Yesterday a U.S. Senate subcommittee to
Filed under: Misc. GadgetsBringing an end to the Samsung slush fund probe, a South Korean court has fined Lee Kun-hee, Samsung's former Chairman and son of the chaebol's founder, $109 million for tax evasion. A rather favorable decision when you consider that prosecutors sought a seven-year jail sentence and a fine of $347 million. The court said that his crimes did not justify a prison term. Lee,
Tax evasion is the general term for the attempts by individuals, firms and other entities to evade the payment of taxes by illegal means. Tax evasion usually entails taxpayers deliberately understating the true state of their affairs to the tax authorities to reduce their tax liability, and includes, in particular, dishonest tax reporting.
Contrary to tax [...]
If you have purposefully avoided paying your taxes, whether federal, state, or local, you have IRS Problems. Tax evasion, commonly called tax fraud, is a crime. Penalties can involve fines, imprisonment, and asset seizure. (...)
This is yesterday's news, but I have to cover it. Actor Wesley Snipes is doing 3 years for tax evasion.“A federal judge has sentenced action star Wesley Snipes to the maximum three-year sentence on tax charges. Snipes’ lawyers offered three dozen letters from family members, friends and even fellow actors Woody Harrelson and Denzel Washington attesting to his good character. They argued he should get only probation, because all three convictions were misdemeanors and the actor had no previous criminal record.”For more details, click here.E.G Radio, ExtravaGangsta Radio,
Wesley Snipes given three years for tax evasion
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Jacqui Goddard in Miami
Wesley Snipes was sentenced to three years imprisonment last night for his
“brazen defiance” of the US taxman.
The 45-year-old Hollywood actor, who has starred in films including Blade,
White Men Can’t Jump and Demolition Man, was given the maximum sentence
...
Hollywood actor Wesley Snipes could be jailed for up to three years when he is sentenced for tax evasion.
A news by AsianLoveStories.com.
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Domestic automobile manufacturers are facing an inspection tour from taxation bodies, who are trying to find out if enterprises are following the current tax laws.
An official of the Ministry of Finance said that the taxation bodies have discovered some methods automobile manufacturers use to evade taxes.
In fact, according to the official, the inspection is being carried out regularly in order
“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arranging [...]
Al Capone of junk mail heading for the big house
Notorious spammer Robert Soloway faces an extended spell behind bars after pleading guilty to fraud and tax evasion charges last Friday.…
Read more…
For more, see the March 12 post from the “Ataxingmatter’ Blog
House chairman asks agencies to probe Blackwater
By Rafael Enrique Valero rvalero@nationaljournal.com March 11, 2008
In letters sent to the Internal Revenue Service, Small Business Administration, and Labor Department on Monday, Rep. Henry A. Waxman, D-Calif., chairman of the House Committee on Oversight and Government Reform, [...]
Wall Street Journal reports that the U.S., Canada, Sweden, Australia, Italy and France yesterday confirmed they are investigating dozens of their citizens for allegedly hiding assets at a bank in Liechtenstein. The United Kingdom and Germany said last week that they are investigating hundreds of their citizens named in the LGT Bank client roster, which was provided by a former LGT employee.
“The professionals who handle my income declarations have assured me that they respected the rules, as I have always asked them to do,” the 28-year-old Yamaha rider said on Italian television.
“My conscience is clean. This story will be over very soon”.
Last week, Italy’s tax agency said it was examining possible tax evasion on undeclared revenues [...]
In the following press release Randy G. Massey, Acting United States Attorney for the Southern District of Illinois, announced that on January 17, 2007, ERIC DEAN TROUTT, age 40 of Sandoval, Illinois, pled guilty to the offenses of Tax Evasion and Making a False Statement to a Financial Institution. The offenses carry a total statutory maximum possible punishment of up to thirty-five years imprisonment, a fine of up to $1,250,000, five years supervised release, and mandatory restitution. Sentencing is scheduled for April 16, 2007.ERIC DEAN TROUTT admitted as part of the plea that he evaded the assessment of federal income tax on his 2003 U.S. Individual Income Tax Return by not reporting approximately $200,000 he received as payment for legal services, by filing a false tax return, and by using a trust account to conceal the income. ERIC DEAN TROUTT used the unreported income to purchase luxury vehicles, real estate property, and luxury furniture as well as other various purchases
“Client is a private investment company domiciled in the Bahamas used as a vehicle to manage the investment needs of beneficial owner, now a retired professional who achieved much success in his career and accumulated wealth during his lifetime for retirement in an orderly way.” Such was the Riggs Bank’s anonymity-preserving description of dictator Augusto Pinochet, whose death last month inspired thousands of Chileans to celebrate in the streets. Pinochet, in addition to having directed death squads to torture and murder thousands of his opponents, enriched himself through drug and arms trafficking and other lucrative forms of corruption. From 1979 onward, he maintained accounts worth an estimated $6 billion to $8 billion in the Washington, D.C.-based Riggs, thus evading taxes in Chile. Other dictators and ruling elites in the developing world have defrauded their countries by funneling huge amounts of untaxed revenue into foreign banks and tax havens, inclu
Hardcore Young-Earth Creationist Kent Hovind and his wife were sentenced to ten years in jail for failing to pay almost one million dollars in taxes to the IRS. Get this: his defense was "he and his employees are workers of God and therefore exempt from paying taxes." I'm still laughing over that one.Hovind does have hope, though. Shelley the Republican has instructed her readers to "Let us pray to Jesus that Kent and Jo will be allowed to continue their important ministry and continue teaching young scientists about the many flaws in Darwin's theory of evolution." I'm sure God will pull some strings and bail Hovind out, right?Once again notice the mention of Darwin's name. They really hate the guy.Read the full story here.
Just Read It!The Right to Information is a fundamental right under our constitution. The RTI took birth to fulfill this fundamental demand .Therefore, in my opinion , the law makers made explicit the overriding effect of this law on all other laws of the country, by introducing Chapter VI which contains Section 22 . The Said section states""The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in the Official Secrets Act, 1923, and any other law for the time being in force or in any instrument having effect by virtue of any law other than this Act."Since the parliament passed a law and made explicit the weightage of the new law i.e RTI Act , there should not be any doubt about the preference of RTI over other law. Going by the decision of Chief Information Commission , it seems that even CIC does not think so. The decision of the CIC in past is that in many cases related to , Income Tax , it disposed of the application rejecting the RTI
