tax crime: MAN USED WITHHELD TAXES FOR PERSONAL EXPENSES - 01/28/21 06:37 AM
The expenses included a boat and a strip club.
A South Carolina man was sentenced to a year and a half in federal prison after pleading guilty to failing to pay to the government taxes he withheld from his employees’ paychecks.
 According to court records, Rafael Salas Jr., 52, of Columbia, South Carolina, spent the funds for personal expenses and entertainment, including on a boat and at a strip club.
 From January 2014 through August 2016, Salas owned and operated Moonshiner’s Patio Bar and Grill in Lexington, South Carolina, and employed approximately 20 people during each tax period. While failing to file Moonshiner’s … (3 comments)

tax crime: Private Equity CEO to Pay more than $139 million in tax and penalties - 01/05/21 07:46 AM
Robert F. Smith, the Chairman and Chief Executive Officer of a San Francisco based private equity company, admitted that he knowingly and intentionally used his trust in Belize, Excelsior Trust and Flash Holdings (a shell company) and their associated foreign bank accounts in the British Virgin Islands and Switzerland to conceal from the IRS, and the U.S. Treasury Department, income earned and distributed to Flash Holdings from private equity funds.
As a result of the overall scheme, Smith willfully did not report to the IRS over $200 million of partnership income. Smith also failed to report his ownership of his foreign bank … (1 comments)

tax crime: MAYOR OF TEXAS TOWN OWES $1.1 MILLION IN UNPAID TAXES TO IRS - 12/22/20 03:51 PM
David Turner said the seven-figure tax debt is due to a “mix-up” but wouldn’t elaborate.
 The mayor of Odessa, Texas, owes the IRS $1.1 million in unpaid payroll taxes, according to records obtained by the Odessa American newspaper.
 Mayor David Turner said the $1.1 million debt was due to a paperwork error that “has been taken care of.”
 “There was a mix-up, but we got it resolved,” Turner told the told the Odessa American. “My attorney is waiting for a receipt from the IRS. Due to COVID everything has been slowed down.”
 Turner declined to explain what type of “mix-up” caused the tax issue, … (1 comments)

tax crime: Philadelphia woman stole over $2 million in tax refunds - 12/22/20 03:40 PM
On October 30, 2020 Vontia Jones of Philadelphia, PA, was sentenced to eight and a half years in prison, three years of supervised release, and ordered to pay $2,319,278 in restitution for obtaining the personal identifying information of people and using that information to file more than 900 fraudulent tax returns with the IRS, netting her over $2,319,000 in fraudulent refunds. The defendant also engaged in real estate fraud by purporting to sell properties to buyers using fraudulent documents.
Jones operated a business that she identified by various names including "Jones Tax Service," "Earned Income Credit Unit," "EIC Unit," and "Eelysium," out … (1 comments)

tax crime: Former Bay Area real estate agent sentenced for mortgage fraud - 12/22/20 03:19 PM
Dickson Wing Kei Hung of Daly City, was sentenced on October 5, 2020 by U.S. District Judge William B. Shubb to six years and six months in prison and ordered to pay over $7 million in restitution for mail fraud.
According to court documents, between March 2006 and November 2006, Hung masterminded a scheme to purchase residential properties in Stockton for use as marijuana grow houses. A total of 26 homes were purchased using recruited straw buyers. Ultimately, Hung, his co-defendants, and others submitted home mortgage loan applications to at least 10 financial institutions and mortgage lenders that contained materially false statements … (2 comments)

tax crime: CHICAGO LAWYER GETS 18 MONTHS IN TAX CASE - 12/22/20 03:11 PM
He admitted to helping another lawyer evade taxes on income from a tobacco company settlement.
 A former attorney in Illinois was sentenced to 18 months in federal prison for assisting another lawyer in evading taxes on income received from a multibillion-dollar legal settlement with tobacco companies.
Edward R. Vrdolyak, 82, of Chicago, pleaded guilty to one count of tax evasion. Vrdolyak admitted in a plea agreement that he assisted another lawyer, Daniel P. Soso, in evading federal income taxes on income from a $9.2 billion settlement between the State of Illinois and a number of tobacco companies in the 1990s. At the time … (1 comments)

tax crime: A New York City restaurateur sentenced to prison for tax evasion - 12/13/20 06:35 PM
Adel Kellel, 63, of New Hyde Park, New York, the owner of Raffles Bistro, formerly a restaurant located in New York City, was sentenced to 24 months in prison for tax evasion.
According to the allegations contained in the information to which Kellel pled guilty, documents filed in court, and statements made in court:
From 2011 to 2015, Kellel filed false personal returns and corporate returns for K&H, and evaded his taxes by diverting and failing to report substantial gross receipts to the IRS.
For example, as part of his tax evasion scheme, Kellel diverted over 150 hotel checks, totaling over $2.1 million or … (2 comments)

 
Vani Murthy, CPA, IRS Problem Resolution (Tax Relief Central)

Vani Murthy, CPA

IRS Problem Resolution

Mesa, AZ

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