Puerto Rico has become a popular tax haven for super rich Americans who take advantage of local laws, which allow them to avoid paying U.S. federal income taxes.
Over the last decade, thousands of wealthy Americans have built homes, started businesses and spent a significant amount of time in Puerto Rico, all in order to take advantage of the island’s tax code that exempts them from U.S. taxes. While just a few thousand have taken advantage of the law, the U.S. federal government has potentially lost out on hundreds of millions of dollars in tax revenue, according to the Internal Revenue Service (IRS).
“It’s being done, in a sense, in plain sight,” Peter Palsen, an international tax expert at the Washington D.C-area law firm Frost Law, told The Daily Caller News Foundation. “The IRS has the knowledge of who’s doing it.” Read More
Tax and legal experts say the leaker or leakers who took President Trump’s personal tax returns and gave them to The New York Times, committed a felony punishable by prison.
Joseph diGenova, a former U.S. Attorney for the District of Columbia who has advised Trump on some legal matters, told Just the News that the leaking was “definitely” a crime that could be liable for both criminal and civil legal actions. Read More
A glitch within the Internal Revenue Service (IRS) has reportedly led to as many as thousands of foreign nationals receiving coronavirus stimulus checks intended for U.S. residents. Read More
Former United Auto Workers President Gary Jones was charged with embezzlement, racketeering, and tax evasion Thursday in a massive FBI probe that has brought down several of the union’s top leaders. Read More
The IRS placed a tax lien on Hunter Biden seeking $112,805 in unpaid taxes from 2015, according to records the Daily Caller News Foundation obtained. Read More
Disgraced former United Auto Workers (UAW) President Gary Jones resigned his union membership Friday amid an ongoing federal corruption investigation. Read More
The FBI and IRS raided the home of the United Automobile Worker Chief President Gary Jones Wednesday and discovered wads of cash. Read More
An IRS analyst pleaded guilty Wednesday to leaking former Trump attorney Michael Cohen’s confidential financial records in 2018 to Michael Avenatti, the embattled celebrity lawyer. Read More
by Fred Lucas The Internal Revenue Service seized $446,000 from the bank accounts of brothers Jeffrey, Richard, and Mitch Hirsch in 2012, claiming a “structuring” violation against the owners of Bi-County Distributors Inc. for making multiple bank deposits of less than $10,000. The government never charged them with a… Read More