The Internal Revenue Service in coming days will release a new information reporting form that taxpayers will use starting this coming tax filing season to report specified foreign financial assets for tax year 2011. Form 8938 (Statement of Specified Foreign Financial Assets) will be filed by taxpayers with specific types and amounts of foreign financial […]
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Convicer Percy has contributed 33 entries to our website, so far.
It is being reported by tax-news.com that the American Embassy in Ottawa has disclosed that the United States Internal Revenue Service (IRS) will shortly announce an easing of its foreign account reporting rules for US citizens living in Canada. Under the IRS’s Foreign Bank Account Report (FBAR) rules, any US person (not necessarily a US […]
In Lampton v. Diaz, 639 F.3d 223 (5th Cir. 2011), the Fifth Circuit held that prosecutorial immunity from suit did not extend to a prosecutor’s post-trial transfer of a defendant’s private federal tax records to a state ethics commission. Between 2003 and 2006, Dunnica Lampton (“Lampton”), the U.S. Attorney for the Southern District of Mississippi, […]
In United States v. Mubayyid, No. 08–1846, 2011 WL 3849749 (1st Cir. Sept. 1, 2011), the First Circuit upheld the defendant’s convictions under 26 U.S.C. §§ 7206(1) and 7212(a), based on his failure to disclose his organization’s non-charitable activities on IRS Form 990. In 1993, Emadeddin Muntasser (“Muntasser”) incorporated Care International, Inc. (“Care”), an organization […]
In United States v. Fumo, 655 F.3d 288 (3d Cir. 2011), the Third Circuit vacated the defendants’ sentence in part because the district court failed to articulate clearly whether its sentencing procedure was a departure or a variance. During his three decades as Pennsylvania state senator, Vincent J. Fumo (“Fumo”) engaged in a wide-ranging scheme […]
In United States v. Renner, 648 F.3d 680 (8th Cir. 2011), the Eighth Circuit upheld the district court’s decision to grant a downward variance in a tax evasion case based on the fact that the defendant had consulted with tax professionals, even though the jury did not believe the defendant met all the requirements for […]
In United States v. Hoskins, 654 F.3d 1086 (10th Cir. 2011), the Tenth Circuit held, inter alia, that a sentencing court was not precluded in appropriate cases from considering unclaimed deductions in determining tax loss under § 2T1.1 of the Sentencing Guidelines. In the present case, however, the lower court had not erred in rejecting […]
In United States v. Stevens, No. 10-200-01/02, 2011 WL 4344016 (W.D. La. Sept. 14, 2011), the U.S. District Court for the Western District of Louisiana granted the defendants’ motion for a new trial after finding that the government’s failure to disclose an IRS investigation of a cooperating witness violated due process under Brady v. Maryland, […]
In United States v. Ellefsen, 655 F.3d 769 (8th Cir. 2011), the Eighth Circuit held that the government’s failure to disclose IRS documents to the defense did not violate Brady v. Maryland, 373 U.S. 83 (1963), because the undisclosed information was not material. Southwest Missouri Bone & Joint, Inc. (“SMBJ”) was owned by Brian Ellefsen […]
In United States v. Bradley, 644 F.3d 1213 (11th Cir. 2011), the Eleventh Circuit held, inter alia, that venue for failure to file an FBAR properly lies in any district that houses a local IRS office, so long as the chosen venue does not create a constitutional hardship for the defendant. As discussed above, the […]