Bad News for Tax Evaders: U.S. Targets Caribbean Accounts
U.S. taxpayers who stashed money in one of the Caribbean's largest banks without telling the IRS could be in trouble.
tax evasion
Tax Cheats Pony Up $5.5 Billion in Amnesty Program
The IRS has recouped more than $5.5 billion under a series of programs that offered reduced penalties and no jail time to people who disclosed assets they were hiding overseas.
Tax Evader Wesley Snipes is Out of Prison, Into House Arrest
After serving more than two years in jail for tax evasion, actor Wesley Snipes was released earlier this week, though he will remain under house confinement until July 19.
Shakespeare Was a Ruthless Businessman, Scholars Reveal
Hoarder, moneylender, tax dodger -- it's not how we usually think of Shakespeare. But the Bard also was a savvy businessman who grew wealthy trading grain in a time of famine.
Hillary Clinton Wants to Tax the Rich -- Here, There and Everywhere
Last month, Secretary of State Hillary Clinton suggested that elites the world over are under-taxed, and that governments everywhere should change that. Most commentators just assumed she was trying to export the "tax the rich" meme. But what if she's really trying to avoid exporting the rich?
Tax Cheat Whistleblower Who Got $104 Million from IRS Will Owe Millions ... to the IRS
Bradley Birkenfeld just got some good news and some bad news. The good news was that he got a $104 million payment from the IRS for his role in catching tax evaders. The bad news: His reward isn't tax exempt.
IRS Pays Whistleblower $104 Million
The Internal Revenue Service has awarded an ex-banker $104 million for providing information about overseas tax cheats -- the largest amount ever awarded by the agency, lawyers for the whistleblower announced Tuesday.
More Crazy Tax Deductions: What Worked, What Didn't
From hip replacements to pole dancing classes, here are some of the most outlandish deductions taxpayers have ever attempted to claim. You won't believe what these people tried that their accountants said wouldn't fly -- and you really won't believe what did (literally).
Blowing the Whistle Can Net You Big Bucks
If you have proof of financial crime -- corporate malfeasance or tax evasion, say -- you shouldn't keep it to yourself: Rewards for whistleblowers can reach as high as 15 to 30 percent of the money recovered by the government. Read on for some recent examples of richly rewarded whistleblowing, as well as tips for anyone thinking of blowing the whistle.
IRS Cuts 'Innocent Spouses' Some Slack
When people play fast and loose with their taxes, they often leave their spouses -- and ex-spouses -- in the dark. Until now, those innocent wives and husbands had only two years to file for relief, even if they didn't know about the problem until it was too late. Now, the IRS is eliminating the deadline.
Microsoft's Quarter: One Big Tax Dodge
Microsoft delivers blowout earnings, and shares open lower the following morning. It seems bizarre, but it's part of a larger trend in technology stocks. And Wall Street's muted reaction is a sign that investors are finally catching on to Microsoft's game -- i.e., avoiding US taxes.
Taxpayers Find a Little Relief in IRS's New Tax Lien Rules
The IRS has eased its tax lien policy, giving taxpayers and businesses more opportunities to pay unpaid taxes before being hit with a lien. But while the changes should provide some welcome relief to newly struggling taxpayers, they're unlikely to help those who are already the subject of a lien.