SearchMain menu Skip to primary content Skip to secondary content Home About Post navigation← PreviousNext → Fbar Ovdi Want to Go to Jail? Offshore Tax. Lance Wallach, expert witness. Posted on February 12, 2014 The Federal government is aggressively pursuing taxpayers with undisclosed foreign accounts and unreported foreign income using information furnished by the foreign banks and other sources. If you have not yet applied for the Offshore Voluntary Disclosure Program, Recent convictions involving UBS Clients:
1. Jan. 30, 2012 – Stephen M. Kerr, Michael Quiel and Christopher M. Rusch were charged in Phoenix, Ariz., with conspiracy to defraud the IRS for concealing millions of dollars in assets in numerous secret Swiss bank accounts held at UBS and elsewhere.
2. Jan. 20, 2012 – Kenneth Heller, of New York, N.Y., was sentenced to 45 days in prison and two years of supervised release. Heller pleaded guilty to income tax evasion in June 2011 and admitted to hiding more than $26.4 million in a bank account at UBS AG. He has agreed to pay a civil penalty of over $9.8 million.
3. Jan. 11, 2012 – Michael Reiss, a doctor, professor and medical researcher, of Princeton, New Jersey, was sentenced to eight months in a community confinement center for failing to file FBAR’s with the IRS. Reiss pleaded guilty in August 2011 and agreed to pay back taxes of at least $400,000 and to pay a civil penalty of over $1.2 million.
4. Dec. 7, 2011 – Amir Zavieh, of San Francisco, Calif., was indicted with conspiring to defraud the Internal Revenue Service (IRS). According to the indictment, Zavieh concealed a bank account at UBS by placing his domestic assets in the name of a nominee and failing to file income tax returns.
5. Nov. 9, 2011 – Robert E. Greeley, of San Francisco, was senten
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Fbar Ovdi Want to Go to Jail? Offshore Tax. Lance Wallach, expert witness.
Posted on February 12, 2014
The Federal government is aggressively pursuing taxpayers with undisclosed foreign accounts and unreported foreign income using information furnished by the foreign banks and other sources. If you have not yet applied for the Offshore Voluntary Disclosure Program, Recent convictions involving UBS Clients:
1. Jan. 30, 2012 – Stephen M. Kerr, Michael Quiel and Christopher M. Rusch were charged in Phoenix, Ariz., with conspiracy to defraud the IRS for concealing millions of dollars in assets in numerous secret Swiss bank accounts held at UBS and elsewhere.
2. Jan. 20, 2012 – Kenneth Heller, of New York, N.Y., was sentenced to 45 days in prison and two years of supervised release. Heller pleaded guilty to income tax evasion in June 2011 and admitted to hiding more than $26.4 million in a bank account at UBS AG. He has agreed to pay a civil penalty of over $9.8 million.
3. Jan. 11, 2012 – Michael Reiss, a doctor, professor and medical researcher, of Princeton, New Jersey, was sentenced to eight months in a community confinement center for failing to file FBAR’s with the IRS. Reiss pleaded guilty in August 2011 and agreed to pay back taxes of at least $400,000 and to pay a civil penalty of over $1.2 million.
4. Dec. 7, 2011 – Amir Zavieh, of San Francisco, Calif., was indicted with conspiring to defraud the Internal Revenue Service (IRS). According to the indictment, Zavieh concealed a bank account at UBS by placing his domestic assets in the name of a nominee and failing to file income tax returns.
5. Nov. 9, 2011 – Robert E. Greeley, of San Francisco, was senten