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Tax Deductions Tax Fraud Internal Revenue Service

Polsinelli

Tax Court Strikes out Smoltz and Klesko’s Big K SCE, but Provides Relief for Those Facing Fraud Allegations

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In the late 1990s, former Atlanta Braves players John Smoltz and Ryan Klesko formed Big K Farms (“Big K”), a partnership that, over the years, acquired approximately 1,500 acres of land in Georgia for around $4 million. From...more

Polsinelli

Bare Knuckle Conservation Easement Brawl Leaves Participants in Limbo

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Two recent tax court cases paint an ominous picture for professionals and investors who participated in listed syndicated conservation easement transactions. Coming on the heels of the Fisher conviction and his lengthy...more

Allen Barron, Inc.

Are There Strategies to Avoid an IRS Audit?

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Are there strategies to avoid an IRS audit? What are some of the known risks for triggering an IRS audit? What should you do if you have are concerned about the information provided a previous tax return? Is there a way to...more

Polsinelli

Government Asserts the Defendants Lied and Cheated the IRS out of over $1.3 Billion: The Government’s Opening Statement of the...

Polsinelli on

The first criminal prosecution of syndicated conservation easement promoters began on July 18, 2023, with the government laying out its case against defendants Jack Fisher, James Sinnott, and Clayton Weibel.  A Department of...more

Polsinelli

Appraiser Pleads Guilty to Fraud in Syndicated Conservation Easement Case

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Polsinelli’s Government Investigations and Tax attorneys continue to follow the well-known Fisher case, the Department of Justice’s ("DOJ") first criminal indictment related to syndicated conservation easements. Walter...more

Foodman CPAs & Advisors

El IRS Advierte A Los Contribuyentes Contra Las Estrategias De Evasión Fiscal

El IRS concluyó su lista de Estafas de la Docena Sucia (“Dirty Dozen”) del 2022 recomendando a los contribuyentes a estar atentos y evitar ser engañados por las estrategias de evasión fiscal....more

Polsinelli

New York Alleges Trump Procured Inflated Appraisals for Conservation Easements

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On September 21, 2022, the New York State Attorney General Tish James filed a civil lawsuit against former President Donald Trump and the Trump organization alleging fraud and misrepresentation. The Complaint described a...more

Freeman Law

Tax Court in Brief | Sestak v. Commissioner | Badges of Fraud, Bribery, and Violation of Sharply Defined Public Policy

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Tax Litigation:  The Week of April 25th, 2022, through April 29th, 2022 Sestak v. Comm’r, TC Memo. 2022-41| April 25, 2022 | Weiler, J. | Dkt. No. 17285-18...more

Foodman CPAs & Advisors

How a Forensic Accountant Can Help Attorneys in Tax Fraud Cases

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The IRS recently added new categories of tax fraud - In its recently updated Fraud Handbook, the IRS adds new categories of tax fraud, including concealing domestic or foreign bank accounts and digital assets such as...more

Freeman Law

The Tax Court in Brief - August 2021 #4

Freeman Law on

Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose. The Week of August 16 – August 20, 2021 - Catlett v. Comm’r, No....more

Oberheiden P.C.

Eleven of the IRS's Enforcement Priorities During the 2021 Tax Season

Oberheiden P.C. on

It is tax season once again. While the Internal Revenue Service (IRS) has extended this year’s filing deadline to May 17, 2021 for individuals, businesses must still file by April 15, and all U.S. taxpayers must ensure that...more

Gerald Nowotny - Law Office of Gerald R....

Taxing Times - December 2020

Former N.Y. Elected Official Sentenced To Six Months - The court also ordered the New Yorker to pay $254,628 in restitution to the IRS. A former Town of Hempstead, New York, councilman was sentenced to six months in...more

Eversheds Sutherland (US) LLP

Legal Alert: A Trend Emerging? District Court Disallows $1 Billion of Deductions

Earlier this year, the United States District Court for the Middle District of Louisiana upheld the Internal Revenue Service’s disallowance of $1 billion of deductions claimed by Dow Chemical in relation to two transactions...more

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