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Restitution

Cayman National units admit helping U.S. clients evade taxes

Cayman National units admit helping U.S. clients evade taxes

NEW YORK (Reuters) – Two units of Cayman National Corporation Ltd pleaded guilty to U.S. charges on Wednesday as part of a $6 million settlement of an investigation into how the financial services firm helped Americans evade paying taxes.  Click here for the link to the Department of Justice Press Release. Cayman National Securities Ltd […]

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Ex-Bank Leumi execs to repay part of bonuses after U.S. tax probe

Ex-Bank Leumi execs to repay part of bonuses after U.S. tax probe

Three former senior executives at Bank Leumi will return part of the bonuses they received after Israel’s second largest bank agreed a $400 million settlement with U.S. tax authorities, the company said on Monday.Leumi agreed to make the payment last December to settle two separate investigations into whether it helped American clients, largely in its […]

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Credit Suisse granted exemption to continue U.S. pension business

Credit Suisse granted exemption to continue U.S. pension business

NEW YORK (Reuters) – The U.S. Department of Labor on Thursday said it granted Credit Suisse Group AG an exemption from certain restrictions stemming from its guilty plea to helping Americans evade taxes, effectively allowing the bank to continue to manage $2 billion in U.S. retirement money. The Zurich-based bank can keep managing U.S. pension […]

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Restitution paid to government as part of business crime plea deal was deductible

Restitution paid to government as part of business crime plea deal was deductible

PLR 201528026 In a private letter ruling, IRS has held that a principal in a business could deduct the amount he paid to the U.S. government as restitution, as part of a plea deal resulting from his pleading guilty to a crime committed in the course of his employment.  Click here for the PLR. Background. […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Associations
Member CA Bar Member Orange County Bar US Tax Court Attorney