Bandit Gang Writ Large

IRS Targeted Progressive Groups, Too, Documents Reveal

"The Internal Revenue Service targeted progressive groups applying for tax-exempt status in addition to conservative ones, according to IRS documents released by congressional Democrats on Monday. The documents and an internal IRS report being sent to congressional committees reveal that the tax agency used terms that included 'progressive' and 'occupy' to flag progressive organizations for extra scrutiny before the 2012 elections. The revelations greatly complicate the political scandal that has engulfed the IRS over the past few weeks. A request for comment from the IRS was not immediately returned." Continue reading →

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Dutch Government Investigates Inaccurate Photo Speed Tickets

"Innocent motorists are getting tickets in The Netherlands from average speed cameras that are miscalculating the speed of some vehicles by as much as 18 MPH. National Ombudsman Alex Brenninkmeijer announced his office had opened an official investigation into the matter. Several members of parliament called for the system to be shut down until the problem is resolved, arguing there are many who just pay the fines of around 220 euros (US $290) without knowing whether they are legitimate. Fredrik Teeven, State Secretary for Security and Justice, rejected that proposal outright on Tuesday, saying a 'software update' would take care of the problem." Continue reading →

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Cops enforce wrong speed limit, will prosecute tickets anyway

"For months the speed limit on that portion of River Watch was marked incorrectly. Police say the tickets they issued during that time are valid, but some drivers are wondering whether they should have been charged for violating an incorrect speed limit. Augusta Traffic Engineer Steve Cassell said the contractor in charge of the project had authorization to reduce the speed limit, but only during specific hours and under certain conditions. According to a plan approved by Georgia DOT, the speed limit could be reduced between 9 a.m. and 3 p.m., but not during peak traffic times, such as when drivers were leaving work." Continue reading →

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Credit Suisse faces $1.2-billion US penalty over taxes

"Credit Suisse faces a penalty of $1.2 billion (1.1 billion francs) from US authorities over cases of tax evasion involving American clients, a Swiss lawyer estimates. The cantonal banks of Zurich and Basel are also believed among those targeted. Last week, MPs in Bern rejected an agreement with the US, backed by the Swiss federal government, to temporarily lift banking secrecy laws to allow Swiss banks to settle with American authorities over past tax evasion cases. The agreement was never made public but was expected to include significant fines against 14 Swiss banks." Continue reading →

Continue ReadingCredit Suisse faces $1.2-billion US penalty over taxes

Bitcoins Seized By DEA

"The Drug Enforcement Administration posted an Official Notification that Bitcoin (i.e. property) belonging to Eric Daniel Hughes was seized for forfeiture pursuant to 21 U.S.C. § 881, because the property was used or acquired as a result of a violation of the Controlled Substances Act (21 U.S.C. §§ 801 et seq.) The DEA appears to have been the first agency to seize actual Bitcoins from an individual with this seizure. Exactly how the Bitcoin was seized is not known as of this writing. However, reading the top of the notice it appears that Mr. Hughes can request release of the seized property during the pendency of the forfeiture proceeding due to hardship." Continue reading →

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Australian Taxation Office targets Bitcoin users

"The Australian Taxation Office is taking aim at Bitcoin users who could be attracted to the burgeoning virtual currency by the possibility of hiding transactions and dodging tax. Despite the ability to trade virtual currencies like Bitcoin anonymously, the ATO is confident it can track users in efforts to stop fraud. 'Bitcoin is no more anonymous than physical cash and the ATO has experience in working with earlier forms of ­anonymous electronic money systems, and with physical cash, which are relevant for responding to new and emerging ­systems,' ATO senior assistant ­com­missioner for the cash economy Michael Hardy told The Australian ­Financial Review." Continue reading →

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“Homelanders” To U.S. Expatriates: Don’t Come Back… Ever

"The 2008 amendments levy an 'exit tax' applies to both U.S. citizens and long-term U.S. residents—green card holders who have resided in the United States for at least eight of the 15 years prior to expatriation. The tax is predicated on the legal fiction that you sell all of your worldwide property at its fair market value on the day before you expatriate. But that’s only the beginning. In 1996, Congress enacted the 'Reed Amendment' to the Immigration and Nationality Act. The amendment gives the US Attorney General the discretion to deny entry into the United States to a former US citizen who renounced US citizenship in order to avoid US taxation." Continue reading →

Continue Reading“Homelanders” To U.S. Expatriates: Don’t Come Back… Ever

IRS sent refunds to 23,994 undocumented immigrants at same Atlanta address

"The Internal Revenue Service sent 23,994 tax refunds to a single Atlanta address for a total of $46,378,040 in 2011 — and each of the refunds averaging over $1,900 went to undocumented immigrants, according to the Treasury Inspector General for Tax Administration. Here in South Florida, the IRS sent 1,972 refunds to 'unauthorized' recipients totaling $2,256,302, all going to a single address in Palm Beach Gardens. Other cities hard hit with thousands of refunds going to a single address include Oxnard, Calif., Raleigh, N.C., Phoenix, Ariz., San Jose, Calif. and Alvin, Calif. In each case, millions in improper IRS refunds were sent to one residence." Continue reading →

Continue ReadingIRS sent refunds to 23,994 undocumented immigrants at same Atlanta address

Bitcoin Foundation Receives Cease And Desist Order From California

"Directly following last month’s Bitcoin 2013 conference event in San Jose, CA that brought good revenue into the state, California’s Department of Financial Institutions decided to issue a cease and desist warning to conference organizer Bitcoin Foundation for allegedly engaging in the business of money transmission without a license or proper authorization. If found to be in violation of California Financial Code, penalties can be severe ranging from $1,000 to $2,500 per violation per day plus criminal prosecution which could result in fines and/or imprisonment." Continue reading →

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IRS cracks down on family land gifts not declared at tax time [2011]

"The Internal Revenue Service is looking at land-transfer records state-by-state for evidence of people neglecting to report within-family real-estate gifts. This year, large family land gifts were popular because of a new tax rule that established $5 million as the amount someone can give in a lifetime before having to pay a gift tax. However, any property worth more than $13,000, gifted to one person, is still supposed to be reported to the IRS. To be precise, Form 709 reports U.S. gifts and generation-skipping transfer taxes." Continue reading →

Continue ReadingIRS cracks down on family land gifts not declared at tax time [2011]