Category: Tax Cases

Los Angeles Man Pleads Guilty to Not Reporting over $1 Million Held in Israeli Offshore Accounts

Monday, August 20, 2018

For Immediate Release

U.S. Attorney’s Office, Central District of California

          LOS ANGELES – A Los Angeles man pleaded guilty today in U.S. District Court to willfully failing to file a Report of Foreign Bank and Financial Accounts (FBAR), which would have disclosed his foreign bank accounts, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division.

          According to court documents, Ben Zion Birman held offshore

ALEXANDRIA, Va. – A federal grand jury returned an indictment today charging a Herndon man with failing to file Reports of Foreign Bank and Financial Accounts (FBARs) and filing false documents with the IRS. According to the indictment, Azizur Rahman, 70, had a financial interest in and signature

The defendant allegedly failed to disclose his work for the People’s Republic of China to the U.S. Department of Energy

BOSTON – A professor and researcher at Massachusetts Institute of Technology (MIT) was charged and arrested today in connection with failing to disclose contracts, appointments, and awards from various entities in the People’s Republic of China (PRC) to the U.S. Department of Energy.

Gang Chen, 56, was charged with a criminal complaint of wire fraud, failing to file a foreign bank account report (FBAR), and making a false statement in a tax return. Chen will make an initial appearance today before Magistrate Judge Donald L. Cabell.

Accordin

Recently enacted legislation termed “CTA” may affect your tax planning.

The recently enacted legislation is part of the National Defense Authorization Act (NDAA) enacted by Congress on January 1, 2021, through the override of a presidential veto. The NDAA is a series of federal laws primarily specifying the annual budget and expenditures of the United States Department of Defense. The NDAA for Fiscal Year 2021 includes the expansive Anti-Money Laundering Act of 2020 (AMLA). The AMLA bolsters existing anti-money laundering legislation through several amendments to the Bank Secrecy Act (BSA), which has been the primary statutory vehicle for financial institutions to assist the federal government in detecting and preventing money laundering since its passage in 1970. The amendme