Federal Prosecution of Tax Crimes up 25%

Apr 25, 2011   

Federal prosecutors brought criminal charges in 1,250 tax cases in 2010, a 25.3% jump from 2001. Criminal tax prosecution recommendations by the Criminal Investigation Division of the IRS reached a high of 1,507, up 50.4% from 2001. The data is from Transactional Records Access Clearinghouse, a data research and distribution organization.

Part of the increase resulted from criminal charges in cases involving Swiss banking UBS. UBS agreed to assist the IRS by providing account data for 4,450 American clients. The U.S. Department of Justice recently disclosed in court documents that the IRS is investigating HSBC for assisting U.S. taxpayers hide accounts and income in India. Recently a New York woman plead guilty to filing a false 2008 income tax return that did not disclose that she owned multiple HSBC accounts in India that held $8.3 million. Additionally, the IRS recently opened field offices around the world including Australia, China, and Panama.

The attorneys at Fuerst Ittleman, PL have extensive experience in criminal and civil tax litigation, IRS audits, and federal tax compliance. You can reach an attorney by emailing us at: contact@fidjlaw.com.