Marcus Neiman Rashbaum & Pineiro LLP also assists American taxpayers, foreign advisors, and foreign financial institutions with offshore tax compliance issues. The Justice Department and the Internal Revenue Service have actively been enforcing strict laws which require the disclosure of assets and bank accounts held outside of the United States. Failure to comply with the law can result in fines, penalties, and sometimes criminal prosecution. Always with a practical approach in mind, we try to help clients find solutions that will reduce the possibility of criminal prosecution and minimize financial penalties.

MNR Recent Cases:

• Representation of dozens of American citizens, living domestically and abroad, with various issues involving undeclared foreign assets, including the handling of Criminal Investigations, Offshore Voluntary Disclosures, Streamline Filing Compliance Procedures, Delinquent FBAR Submission Procedures, Opting Out, and FBAR Penalty Mitigation Litigation.

• Successful representation of a Taxpayer accused of filing fraudulent tax returns. After trial, the Tax Court found that the IRS did not prove that the Taxpayer intended to evade tax and therefore the IRS was banned from assessing the $2 million in tax and penalties.

• U.S. v. Grimm: Representation of New York Congressman Michael Grimm, who was charged with various tax offenses, fraud, perjury and obstruction. MNR was able to obtain the defendant an 8 month sentence, more than 70% less than the government’s request.

• U.S. v. Fresen: Representation of local state representative who was charged for failing to file tax returns for more than 10 years. MNR was able to resolve the case by pleading guilty to a single misdemeanor count.

• Representation of whistleblowers who received more than $20 million for having provided information relating to an IRS collection of more than $100 million from a taxpayer for not having disclosed a foreign bank account. This is one of the largest whistleblower awards ever paid by the IRS.

• Representation of a Latin American pop star for failure to properly report foreign assets associated with his family. The case is being investigated by the U.S. Attorney’s Office for the Southern District of New York.

• Representation of Jeff Jafari who is charged in an indictment out of the Northern District of Georgia with allegations of tax evasion and bribing the mayor of Atlanta in order to gain a concession at the Atlanta Airport.

• Successful representation of an individual by creatively attacking the government’s theory that it is entitled to any disgorgement in a tax injunction case.

• Representation of an individual who is currently under investigation for having utilized a captive insurance company for potentially evading millions of dollars in taxes. This is one of the first criminal investigations related to the use of a captive insurance program.

• Successful resolution during trial of a suit filed by the United States Department of Justice against an individual for not timely filing Foreign Bank Account Reports (FBARs). The Justice Department sought $3 million in penalties. After trial, while the jury was deliberating, the matter settled for a $1 million fine. The lawsuit was the first of its type whereby the IRS was seeking a penalty against a Taxpayer for not having reported a bank account in which the Taxpayer did not have a financial interest in the account.

• Representation of a former professional athlete in assistance with compliance with United States tax obligations.