tax evasion

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?

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 a short window to appeal to the IRS for relief -- and the window sometimes closed before they knew there was an issue. Now, the IRS is trying to make its policy fairer.

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.

IRS Launches New Disclosure Program For Offshore Funds

The Internal Revenue Service announced a new disclosure initiative to encourage people to bring money held offshore back into the U.S. tax system. Individuals can bring their money back into the U.S. system, provided they pay a penalty, back-taxes and interest for as many as eight years, the IRS said. Some of the penalties will be as great as 25% of the amount in the foreign bank accounts in the year with the highest aggregate account balance between 2003 and 2010.

Wesley Snipes May Be Headed to Prison

Wesley Snipes tax evasionIt appears that Wesley Snipes has finally run out of options. A federal judge turned down Snipes' latest appeal on Friday and ordered the actor to...

Two More Arrested in Madoff Ponzi Scheme

Annette Bongiorno and Joann "Jodi" Crupi, both long-term employees at Bernard L. Madoff Investment Securities, were arrested Thursday and charged with multiple counts of conspiracy, securities fraud, falsifying documents and tax evasion.

French Police Detain Four People Close to L'Oreal Heiress

French police detained four people close to L%u2019Oreal heiress Liliane Bettencourt in a scandal that has embarrassed the French government. Bettencourt%u2019s wealth manager, tax lawyer, property manager and a close friend were all detained in an investigation into alleged tax evasion and money laundering, Reuters reported. Bettencourt is France%u2019s richest woman.

Germans Raid Credit Suisse in Tax Evasion Probe

German prosecutors raided all 13 Credit Suisse branches in the country on Wednesday as part of a probe into tax fraud. Earlier this year, German authorities acquired information on some 1,500 Credit Suisse customers who may have been using the Swiss accounts to avoid paying taxes.