Use of Shell Companies To Shield Identity Further Limited
By of MillarLaw A Professional Corporation On Monday, August 1, 2016
On July 27, 2016 the Financial Crimes Enforcement Network, (FinCEN) of the Department of the Treasury issued expanded Geographic Targeting Orders (GTO) that will: “temporarily require U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential real estate in six major metropolitan areas” The areas … Continue reading Use of Shell Companies To Shield Identity Further Limited
Cash Payments to Workers; Convenience or Crime?
By Sanford Millar of MillarLaw A Professional Corporation On Sunday, August 23, 2015
A common technique used to pay immigrants who are ineligible to lawfully work and to pay lawful workers “offbook” in order to reduce reported payroll for workers compensation and other purposes is to pay workers wholly or partially in cash. Those employers paying in cash are often misclassifying the workers as independent contractors, in order … Continue reading Cash Payments to Workers; Convenience or Crime?
Cash Businesses, Poor Records and Obstruction Charges, Ouch!
By Sanford Millar of MillarLaw A Professional Corporation On Sunday, August 16, 2015
Cash business operators are often prone to under report income or overstate deductions when filing tax returns. The effect of engaging in such conduct can be criminal charges, including tax evasion, money laundering and conspiracy to obstruct justice. The proliferation of Information Exchange Agreements between, local, state and federal taxing authorities makes the possibility of … Continue reading Cash Businesses, Poor Records and Obstruction Charges, Ouch!
Happy Holidays – There is a Budget Deal, Now Look Out
By of MillarLaw A Professional Corporation On Sunday, December 14, 2014
The just passed budget deal known as Consolidated and Further Continuing Appropriations Act, 2015 contains a reduction in funding for the IRS. The Bill provides a reduction in total IRS funding of $346 million less than last fiscal year. “Internal Revenue Service (IRS): Failing to collect what taxpayers owe leaves the federal budget short about … Continue reading Happy Holidays – There is a Budget Deal, Now Look Out