tax evasion news stories on Newser

Lawmakers to Saverin: Don't Come Back

Kevin Spak — Thu, 17 May 2012 10:06:21 CDT

Facebook co-founder Eduardo Saverin's decision to renounce his US citizenship—and, conveniently, a lot of the taxes from his expected IPO windfall—has struck a nerve on Capitol Hill. Chuck Schumer and Bob Casey will today announce a new bill called the "Ex-PATRIOT Act" (a typically dopey acronym meaning "Expatriation...

Switzerland's Oldest Bank Indicted Over US Tax Cheats

Rob Quinn — Fri, 03 Feb 2012 03:54:00 CST

A Swiss bank older than the US has been indicted by the Justice Department for helping Americans dodge taxes. Wegelin, a 270-year-old private bank, helped some 100 wealthy Americans hide more than $1.2 billion from the IRS, according to the indictment. Clients who decided to co-operate with the investigation...

IRS to Lohan: We Want Our $93K

John Johnson — Tue, 10 Jan 2012 16:42:59 CST

Among the things overlooked on Lindsay Lohan's to-do list in 2009: rehab and paying taxes. TMZ reports that the IRS has obtained a $93,000 lien against the actress because she never got around to filing her federal return. If she doesn't pay up, the agency can seize any homes,...

Italy Takes Quirky Approach to Catching Tax Evaders

John Johnson — Thu, 05 Jan 2012 15:56:35 CST

Italian authorities paid a not-so-friendly visit to a ritzy ski resort to try to put a dent in an entrenched culture of tax evasion: They traced all the Ferraris and other luxury cars parked there and found that 42 belonged to people who had declared incomes of $38,700 or...

Credit Suisse to Out US Tax Cheats

Kevin Spak — Tue, 08 Nov 2011 11:21:05 CST

Heads up, mafiosos and unscrupulous millionaires: Credit Suisse AG intends to give you up to the tax man. Of course, you probably already knew that, because the bank sent notification letters to various US clients suspected of tax evasion last week warning them that it would soon hand over their...

12K Take IRS' Amnesty Deal for Offshore Loot

Kevin Spak — Fri, 16 Sep 2011 08:51:26 CDT

Tax evaders are rushing to the IRS, cash in hand, thanks to a partial amnesty program aimed at recovering money in offshore bank accounts. In all 12,000 tax cheats came forward, the agency announced yesterday, bringing in a total of $2.7 billion. “The results we’re seeing today were...

$100M Tax Fugitive Turns Up in Caymans

Neal Colgrass — Sat, 10 Sep 2011 16:55:00 CDT

A charming entrepreneur may have to give up his globe-trotting ways and pay an outstanding $100 million tax bill, the Wall Street Journal reports. Investigators have tracked down William H. Millard, the California tech mogul who founded the once-massive computer retailing chain ComputerLand, in the Grand Cayman Islands. Authorities of...

Beijing: Artist Weiwei Owes $1.8M in Taxes

Tue, 28 Jun 2011 11:49:05 CDT

Beijing tax authorities are seeking nearly $2 million in back taxes and fines from outspoken Chinese artist Ai Weiwei, who was released last week from nearly three months in detention. Before his release, Ai confessed to tax evasion and pledged to repay the money owed, Chinese authorities said. Ai is...

Supreme Court Turns Down Snipes' Appeal

Mon, 06 Jun 2011 12:46:57 CDT

The Supreme Court refused to hear actor Wesley Snipes' latest appeal to get his conviction and prison sentence on tax charges overturned. Snipes was convicted in 2008 on three misdemeanor counts of willful failure to file income tax returns, and started a three-year term in a federal minimum security prison...