In their effort to crackdown on tax evasion and recover the untold billions of lost revenue, the IRS has been aggressively pursing banks that help people evade their taxes the evaders.
A federal judge sentenced former USB AG client Kenneth Heller, 82, to 45 days in jail for three counts of tax evasion, which generally carries a maximum penalty of five years per count. Heller has numerous health problems, including dementia and cancer, so the court was lenient on him.
Heller was among seven people arrested for tax evasion in 2010 after USB revealed their identities to federal authorities. The seven people arrested that day are accused of hiding $100 million dollars in tax revenue in offshore accounts.
USB AG admitted in 2009 that they helped clients from the U.S hide their income from federal authorities. Part of their settlement required that they reveal the identity of the people hiding their income in tax shelters.
Tax evasion is a serious charge with stiff penalties which can include years in prison and thousands upon thousands of dollars in fines. A
tax attorney can help a person accused of evasion reduce their sentences through a plea or an effective defense. Anyone facing criminal tax charges are urged to contact a tax attorney immediately.
Most people are not happy to write that annual check to the IRS, but there alternatives to
tax evasion. A
tax lawyer can show an individual or a business various ways to take advantage of the many tax breaks available.
