Unlike a civil tax examination, a criminal tax investigation has little to do with the assessment of additional tax. The purposes of a criminal investigation are (1) to detect suspected criminal tax offenses and (2) to refer those offenses for criminal prosecution. The government’s goal is to obtain a conviction that results in imprisonment, fines, […]
The IRS Criminal Investigation Division (“CID”) is made up of Special Agents who are duly sworn law enforcement officers who are trained to “follow the money”. CID may open up an investigation in higher profile cases as a result of coordination with the FBI, DEA, INS and other agencies. However, average citizens should not assume […]
An IRS Special Agent works for the IRS’ Criminal Investigation Division (“CID”). Special Agents are duly sworn law enforcement officers who are trained to “follow the money”. They investigate potential criminal violations of the Internal Revenue Code, and related financial crimes. Unless they are working undercover they will identify themselves with credentials which include a […]
Under the Foreign Account Tax Compliance Act (“FATCA”), foreign banks, insurers and investment funds must send the Internal Revenue Service information about Americans’ and U.S. permanent residents’ offshore accounts worth more than $50,000. Institutions that fail to comply could effectively be frozen out of U.S. markets. The U.S. has entered into intergovernmental Agreements (“IGA’s”) with […]
Many criminal investigations start as a result of a referral from the civil side of the IRS. That is why for most taxpayers, a criminal investigation isn’t a first step, but rather the last step in a lengthy process to get you to resolve your tax debt even if it means that an IRS Special […]
Many people want to know what they are up against for failing to file and or pay by the tax deadline of April 15th so here are some things for you to consider. 1. Federal income tax returns are systematically checked for mathematical accuracy. If there is any money owed, you will be sent […]
Under the Foreign Account Tax Compliance Act (“FATCA”), foreign banks, insurers and investment funds must send the Internal Revenue Service information about Americans’ and U.S. permanent residents’ offshore accounts worth more than $50,000. Institutions that fail to comply could effectively be frozen out of U.S. markets. Since the release of the Model 1 and Model […]
Ordinarily, the United States taxes U.S. citizens and resident aliens on their worldwide income, even when they live and work abroad for an extended period of time. To provide some relief, a U.S. citizen or resident who meets certain requirements can elect to exclude from U.S. taxation a limited amount of foreign earned income plus […]
What is a Tax Crime? Tax crimes include all crimes that are under the jurisdiction of the Criminal Investigation Division (CID) of the IRS. While there are dozens of criminal offenses defined in the Federal tax code, they generally all fall under one of two categories: crimes related to the filing of the return and […]
Tax evasion stories aren’t covered in the news very often but the IRS still aggressively pursues tax cheats, particularly those who are accused of serious crimes such as filing a false return. It’s wise for all taxpayers to learn about the procedure and the possible penalties that come along with being prosecuted for tax fraud. […]
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