Category: Tax Compliance

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

Jury Convicts Southern Illinois University-Carbondale Professor of Concealing Foreign Bank Account from the Internal Revenue Service

Benton, Ill. – Dr. Mingqing Xiao, 60, of Makanda, Illinois, was convicted by a federal jury on  Wednesday, May 4, 2022, in connection with lying to federal authorities about a foreign bank account in China in 2017, 2018, and 2019.

Dr. Xiao, a mathematics professor, and researcher at Southern Illinois University-Carbondale was convicted of three counts of  Making a  False or  Fraudulent  Statement to the  Internal  Revenue Service (IRS) on his tax returns and one count of Failure to File a report of a Foreign Bank Account (FBAR).   Evidence presented at the trial established that Xiao opened a foreign bank account at Ping An Bank in

Foreign Bank Account Reporting, commonly known as FBAR now has a close cousin named CTA. CTA is being created as of the beginning of the year 2021 and named the Corporate Transparency Act, to flush out Beneficial owners of Foreign Entities such as Corporations, LLC, and others where ownership is 25%