Orange County Tax Attorney Blog

Latest from Orange County Tax Attorney Blog

Blows Dealt to Department of Justice in Offshore Bank Account Enforcement Toner Cartridge Thief Pleads Guilty to Tax Fraud The U.S. Attorney’s Office for the Southern District of California issued a press release last week reporting a conviction of a former tax attorney.  Lloyd Irving Taylor was a California licensed tax attorney and CPA, who probably should have known better, but apparently committed several crimes as part of an overall scheme to evade taxes, for…
Stolen Identity Tax Refund Fraud Stealing Headlines So-Cal Tax Attorney and CPA Who Evaded Taxes Sentenced to Almost 5 Years The big news last week was that the Department of Justice lost two high-profiled trials involving offshore bank accounts. The first was a jury verdict of “not guilty” in the Raoul Weil case, which began on October 14, 2014, in Fort Laurderdale, Florida.  The jury did not take long in its deliberations.  As explained in…
First Day of Trial for UBS Executive Blows Dealt to Department of Justice in Offshore Bank Account Enforcement The IRS’s tax return-related identity theft problem has officially crossed from item of interest to law enforcement and tax professionals to a disturbing problem worthy of the national primetime news.  On September 21, 2014, tax return-related identity theft (also known as “stolen identity refund fraud”) was the focus of a 15-minute segment on CBS’s 60 Minutes, Biggest…
Star of “Jersey Shore” Indicted for Tax Fraud Stolen Identity Tax Refund Fraud Stealing Headlines The high profile federal criminal trial of Raoul Weil began today in Fort Lauderdale, Florida.  Weil was the chief executive of UBS AG wealth management. This trial was a long time coming.  Weil, a Swiss citizen, was indicted for conspiracy to commit tax evasion in 2008, but he disputed the charges and was declared a fugitive shortly after being charged.…
Michael “The Situation” Sorrentino and his brother/manager Marc Sorrentingo were indicted last week for allegedly failing to pay taxes on $8.9 million of income, according to a press release issued by the Department of Justice.   In addition to substantive tax counts, the government has charged the brothers with conspiracy.  Among other things, the scheme is alleged to include claiming personal expenses as business deductions.  In addition to false personal returns, Michael Sorrentino is alleged…
Bakersfield Man Who Ran Catholic-Centered Charitable Websites Indicted for Tax Evasion Star of “Jersey Shore” Indicted for Tax Fraud The Orange County DA’s office issued a press release yesterday reporting that Richard Engel, a 70 year old Newport Beach man, was sentenced to seven years for failing to report over $180 million of income.  In 2011 Engel pleaded cuilty to 3 felony counts of filing false personal tax returns and another 5 counts for failing…
The Department of Justice recently issued a press release (click here to see it) announcing the indictment of a Bakersfield man, Michael Galloway, who owned the Catholic website www.Catholic.org., known as Catholic Online.  According to the press release, the Department of Justice has alleged (remember, all defendant’s must be presumed innocent until proven guilty) the following: A federal grand jury brought the four-count indictment [the last week of May, 2014], and it was unsealed [June…
Currently, there are a few places that you may find rankings of the master of laws in taxation programs. One of the obvious places to look would be US News and World Report,  but, while they have a “tax law” ranking of law schools, it does not actually rank LLM programs.  While it does somehow seem to matter that a school has an LLM program, which would explain why University of San Diego ranked…
What Is the Value of a Tax LLM? Whether a Master of Laws in Taxation is worth the cost, of course, is going to vary based on individual circumstances – both what you come in with and what you leave with – and which program you decide to attend.  These different factors are discussed in this and other posts which, indexed at the bottom of this article. What you come in with – Top LLM…
A question law students and recent law school graduates ask with great frequency is whether they should pursue a Tax LLM. To a great extent, the value of a master of tax laws degree tracks the value of a law degree generally.  As the legal market tightened, so did the tax law market.   Then, so did LLM admissions.   Essentially, LLM programs got more competitive because law students, lets face it, all tend to think the…