Bucci Law Offices
We provide tax representation for clients worldwide
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October 2013 Archives

IRS Takes Down Florida Doctor Who Hid $35 million in Foreign Bank Accounts

Thursday, October 24, 2013 was a sad day for the international medical community, as one of their own, psychiatrist, Dr. Patricia Lynn Hough, was convicted by a jury in Ft. Myers, Florida of conspiracy to defraud the Internal Revenue Service by hiding upwards of $35 million dollars in offshore accounts at UBS and other foreign banks. She and her husband are doctors who owned two medical schools in the Caribbean, which sold for $35 million dollars in April 2007. Shortly thereafter, the money from the sales disappeared and was traced by the IRS to offshore accounts.

Transparency is the New Black: If you are business that deals in credit cards, the IRS now demands you line up the numbers for them!

Have you heard of a 1099-K? If your small business accepts credit cards, or even if you have sold some of your wares online and receive credit card income that for whatever reason does not show up similarly on the tax return that you send to the IRS, you are going to find out what a 1099-K is pretty soon.

Fort Lauderdale Tax Attorney, Christin Bucci, as Amicus Curiae, Petitions for a Writ of Certiorari to Supreme Court of the United States in Fifth Amendment Case Regarding Protections for Offshore Account Holders.

Do you think that you are protected by your Fifth Amendment Constitutional right against self-incrimination if you have offshore account holdings? Think again. Assaults on your rights are far reaching when it comes to U.S. citizens with monies in offshore bank accounts. You have no protections left. If this is you, we can help you come forward. The mountain will only get harder to climb if you don't act now. The Supreme Court has recently declined to take up the case which may have helped shield you from exposure. We urge you to address this situation, before the IRS and grand jury come knocking. The Florida tax attorneys at Bucci Law Offices can help. Amici Curiae, counsel for John and Jane Doe, petitioned the Supreme Court for a Writ of Certiorari, to argue that an individual should be able to assert his Fifth Amendment privilege against self-incrimination in response to grand jury subpoenas that demand a criminal target produce all his foreign bank account information, both known and unknown, to federal prosecutors. The grand jury currently requires that a suspected offshore account holder produce all foreign bank records of his holdings, that he, himself, has not kept, and in so doing, incriminate himself.

ARE YOU ENTITLED TO A REFUND? LEGALLY MARRIED SAME-SEX COUPLES ENTITLED TO SWEEPING TAX REFUNDS

Does the IRS owe you money?? As a result of the landmark decision in United States vs. Windsor, and the striking down of the infamous 1996 Defense against Marriage Act (DOMA), same-sex couples that are legally married in any of the fifty states, District of Columbia, U.S. territories, or a foreign country are now eligible to refunds on ALL federal tax provisions that favor married couples who qualify. This comprehensive ruling and resulting IRS policy applies to same-sex marriages regardless of which state the couple lives in or are domicile. If you are legally married to your same-sex partner contact us to capitalize on this exciting news!Currently, fourteen states (including the District of Columbia) recognize same-sex marriage. These states are California, Connecticut, Delaware, the District of Columbia, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Rhode Island, Washington, and Vermont. The above named states have affirmed the right for same-sex couples to marry - whether by Court decision, legislative decision, or popular vote.

Former Detroit Pistons Owner's Estate Slam-Dunked with Taxes!

The IRS believes that the Estate of former owner of the Detroit Pistons, Bill Davidson, owes around $1.9 billion in total tax liability. The tax attorney defending Davidson's estate is gonna have a field day with this one. Davidson died on March 13, 2009 with his net worth estimated at $3 billion. The IRS has alleged that Bill Davidson did not properly account for huge gifts to family members and the value of stocks he had put in trust for his heirs.

Michael Jackson's Estate Tells the IRS to Beat It!

Michael Jackson's Estate for tax purposes is not Black or White, but decidedly a shade of grey. A $700 million deficiency exists between the amount the 2009 Jackson Estate paid and how much the IRS believes it should have paid. How could such a difference in calculations of taxable estate interest exist? Let your friendly Florida tax attorney take a good look at it:

Regarding Transparency: Offshore Bank Account Holders Beware

It's a common joke that if you have money, you can literally get away with murder. While this is the obvious case in a John Grisham novel or blockbuster film where financial crimes are traced to the darkest alleys of Gotham City, it somehow seemed to be the case in real life too where the guy with the offshore bank account ended up on a beach somewhere in Bermuda. I have little doubt that this type of clean getaway after the perpetration of a massive financial crime happened in the past.

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