, 7 tweets, 4 min read Read on Twitter
Looks like they are going to get more receipts!
Court orders law firm to identify clients who used off-shore accounts to hide money! #taxevasion #MoneyLaundering
#ButNothingsHappening accountingtoday.com/news/court-rul…
The IRS convicted one of their clients for tax evasion from 1996-2000 by using the firms services to set up off-shore accounts & shell companies. So the IRS filed a "John Doe" summons for the records of all their similar customers from 1995-2017!
The law firm has lost it's legal fight as of last week & will have to provide the identities of the clients to the IRS. Piercing their claim of attorney client privilege as they were acting as accountants/tax preparers not attorneys! mahanyertl.com/2019/john-doe-…
So now they are going to have to provide the list of clients who they helped set up off-shore accounts for over 22 years!
So this case will obviously build into other clients & customers who were evading taxes & laundering money through these shell companies.
leagle.com/decision/infdc…
This is not to say that the law firm was engaged in criminal activity, but their otherwise legal services may have been used to set up tax evasion schemes. But would you be surprised their address is a shared office space in a big office building...
The IRS has been using a bunch of "John Doe" summons lately. Including on US banks to get the identities of card holders in Finland & Denmark who are using credit cards in the name of off-shore shell companies to spend money without it being traceable.
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