Spain Targets Another Soccer Star On Tax Evasion Charges

Less than two weeks after soccer fans learned that FC Barcelona midfielder Javier Mascherano will likely face charges for two counts of tax fraud, another high profile soccer player is under investigation. Midfielder Xabi Alonso who played with Mascherano in Liverpool, is being investigated for failing to declare income related to his image rights. The … Read more

Billionaire’s Tax Status Remains At Heart Of Cameron Tell-All Book Scandal

Playwright John Osborne noted, “In London, love and scandal are considered the best sweeteners of tea.” If true, right now, Londoners must be in sugar shock. Londoners – and indeed most in the U.K. – were rocked earlier this week by lurid allegations about Prime Minister David Cameron’s past following the release of Call Me … Read more

Another FC Barcelona Star Could Face Tax Evasion Charges Despite Paying Up

Superstar-laden FC Barcelona might be among the top teams in the Spanish Liga BBVA this season but the team is making news – again – for a more undesirable reason: tax investigations. As Lionel Messi awaits trial on tax evasion charges, another Barcelona star may be joining him. Spanish news outlet El Pais has reported that teammate Javier Mascherano … Read more

US Law Firm Sues Virgin Islands, Alleging Leaks, Faulty Tax Bills & Bad Blood

Litigation isn’t often pretty. And when there are big dollars at stake, it can turn downright nasty. That’s exactly what happened when Jeffrey Prosser and his companies filed for bankruptcy. Prosser, the former owner of Innovative Communications Corp. (ICC) in the U.S. Virgin Islands, amassed personal wealth valued at more than $360 million in 2004 … Read more

IRS To Close Philly Office During Pope’s Visit

Just a few weeks remain until Pope Francis’ historic visit to Philadelphia. It’s not only Pope Francis’ first time in Philadelphia but his first official visit to the U.S. While the Pope will also be making stops in Washington, D.C. and New York City, the focus of his visit is the City of Brotherly Love … Read more

Harper Says No To Netflix Tax In Canada Even Though It Already Exists

No “Netflix tax” in Canada. That was the word from Canadian Prime Minister Stephen Harper. Harper promised not to tax streaming services last week, saying, “I’m 100% against a Netflix tax — always have been, always will be.” He warned, however, that his opponents might do just that, claiming, “Some politicians want to tax digital … Read more

Snoop Dogg Has Money On His Mind After Being Stopped With Lots Of Cash In The Airport

Last week, Italian police stopped rapper Snoop Dogg and found $422,000 (€385,071.64) in his luggage (Louis Vuitton, of course) just as he was about to board a plane. Snoop, whose real name is Calvin Broadus, had not declared the cash and that’s against the rules. In the European Union, the maximum amount of cash that … Read more

Julius Baer Shareholders React Favorably To Tax Settlement News

Shares of Julius Baer stock nosed north sharply yesterday after settlement talks with U.S. officials caused them to announced that the bank has set aside $350 million to pay potential fines related to an ongoing criminal investigation into tax practices. I know: it sounds confusing. Why would shares soar – to an all time high … Read more

IRS Issues Reminder As Taxpayers Near Deadline To Report Foreign Accounts, Assets

Two weeks. That’s all the time that you have left to comply with the mandatory reporting accounts for foreign accounts for the calendar year 2014. The deadline for filing your FBAR, or federal form 114, Report of Foreign Bank and Financial Accounts, is June 30. There are no extensions. You don’t file an FBAR with … Read more