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Bank fraud

Washington Alert – APTC face spotlight; TIGTA on IRS Automated Underreporter Program; 3 More Banks enter Swiss Bank Program

Washington Alert – APTC face spotlight; TIGTA on IRS Automated Underreporter Program; 3 More Banks enter Swiss Bank Program

The use of the advance premium tax credit (APTC) provided for by the Affordable Care Act and the administration of the tax credit are now in the spotlight of Sen. Orrin Hatch (R-UT), chairman of the Senate Finance Committee. During July 16 testimony before Hatch’s panel, the Government Accountability Office (GAO) revealed it had conducted […]

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New Luxembourg Leaks Reveal Disney, Koch Industries Tax Deals

New Luxembourg Leaks Reveal Disney, Koch Industries Tax Deals

LONDON (Reuters) – Walt Disney Co, commodities group Koch Industries and others agreed deals in Luxembourg that could have delivered huge tax savings, a group of investigative journalists has reported, heightening an international debate on corporate tax avoidance. The International Consortium of Investigative Journalists (ICIJ) said the two companies engaged in complex restructurings and channeled […]

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Washington Alert – U.S. & Hong Kong Pact re FATCA; Credit Suisse Sentenced; TIGTA Report on “Missing” E-mails of IRS; Ryan is new Chair of House Ways & Means CommitteeSwitzerland on Nov. 19 signed the Multilateral Competent Authority Agreement

Washington Alert – U.S. & Hong Kong Pact re FATCA; Credit Suisse Sentenced; TIGTA Report on “Missing” E-mails of IRS; Ryan is new Chair of House Ways & Means CommitteeSwitzerland on Nov. 19 signed the Multilateral Competent Authority Agreement

The U.S. and the Hong Kong Special Administrative Region of the People’s Republic of China on Nov. 13 signed an agreement for cooperation to facilitate the implementation of the Foreign Account Tax Compliance Act (FATCA). On Nov. 17, the U.S. and Barbados signed an agreement to improve international tax compliance and to implement FATCA. The […]

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IRS not fully ready for law against offshore tax evasion: watchdog

IRS not fully ready for law against offshore tax evasion: watchdog

(Reuters) – The Internal Revenue Service has spent 19 months and more than $8.6 million getting ready to enforce a new law against offshore tax evasion that takes effect next year, but the agency is still not prepared, a watchdog group said on Thursday. More IRS computer and staff improvements are needed to administer the […]

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Two Months Until First Deadline – Tax Division Encourages Banks to Participate in the Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks and Publishes Comments on the Program

Two Months Until First Deadline – Tax Division Encourages Banks to Participate in the Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks and Publishes Comments on the Program

As per the DOJ Press Release, “Two Months Until First Deadline – Tax Division Encourages Banks to Participate in the Program for Non-Prosecution Agreements or Non-Target Letters for Swiss Banks and Publishes Comments on the Program.” On Aug. 29, Deputy Attorney General James M. Cole and Ambassador Manuel Sager of Switzerland signed a joint statement […]

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Department of Justice Announces Agreement with Liechtenstein Bank to Pay $23.8 Million to Resolve Criminal Tax Investigation

Department of Justice Announces Agreement with Liechtenstein Bank to Pay $23.8 Million to Resolve Criminal Tax Investigation

Per the DOJ Press Release, Liechtensteinische Landesbank AG, a bank based in Vaduz, Liechtenstein (LLB-Vaduz), has agreed to pay more than $23.8 million to the United States and entered into a non-prosecution agreement (NPA) with the U.S. Attorney’s Office for the Southern District of New York.  The NPA provides that LLB-Vaduz will not be criminally […]

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Marchex Berlusconi masterminded tax evasion plan, Italian court says

Marchex Berlusconi masterminded tax evasion plan, Italian court says

As reported in Reuters, former Prime Minister Silvio Berlusconi was the mastermind behind a complex system of tax evasion by his holding company Fininvest, Italy’s highest appeals court said on Thursday. The Court of Cassation, which published the reasons for its decision earlier this month to uphold Berlusconi’s conviction for tax fraud, pulled no punches […]

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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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Member CA Bar Member Orange County Bar US Tax Court Attorney