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Friday, June 24, 2011
Accountant: McGregor wrote checks to co-defendant - Montgomery Advertiser
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Thursday, June 23, 2011
Accountant defaults in civil case, judge rules - Delaware Wave
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Archdiocese fires volunteer accountant at Blessed Sacrament church - Ottawa Citizen
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Archdiocese fires volunteer accountant at Blessed Sacrament church Ottawa Citizen The longtime accountant at Blessed Sacrament Parish has been fired from his volunteer position by the Archdiocese of Ottawa. Herv� Dejordy, chair of the parish finance committee ... |
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Can IRS Force Your Accountant To Talk?
By ROBERT W. WOOD
With all the talk of undisclosed foreign bank accounts and coming clean to the IRS, there?s renewed buzz about an age-old topic: what tax information can the IRS get?� Under the U.S. Constitution, you can?t be made to testify against yourself.� You can assert your Fifth Amendment rights and decline to answer IRS questions, even in front of a judge.�
But documents are a different story.��If you have documents?such as foreign bank account records?the IRS can obtain them with a summons, subpoena or search warrant.� That may make you wonder if you aren?t better off with sensitive information in the hands of your lawyer.� That?s especially true if you?ve considered a quiet disclosure.�
Thanks to attorney-client privilege, if you confess to a lawyer you?re hiding income or assets offshore the IRS can?t make the lawyer talk.� The IRS can?t even make your lawyer produce your documents with a summons or subpoena. See Latest Foreign Account Prosecution Fuels Fears.� Such are the basics of the attorney client-privilege.�
That should impact how you handle your case.� If you ask your lawyer to obtain your foreign bank records, your lawyer can?t be forced to hand them over to the IRS.� In contrast, if you obtain your own foreign bank records, they?re fair game.� �
Accountants, however, don?t have this privilege.� If you make statements or provide documents to your accountant, he can be compelled to divulge it no matter how incriminating it is. �The accounting profession lobbied for its own privilege in the 1990s, and a�statutory ?tax preparation? privilege was added in 1998 (IRC��Section�7525(a)(1)).� However,�it is inapplicable to criminal tax cases so is of little value.
In sensitive tax matters, the answer to this quandary for the last 50 years has been the Kovel letter.� Named after United States v. Kovel, it works like this: Your tax lawyer hires an accountant to work for him on your case.� In effect, the accountant is doing your tax accounting and return preparation, but reporting as a subcontractor to your lawyer.
Properly executed, this end-run imports attorney client privilege to the accountant?s work and communications.� However, recent IRS lawsuits are eroding this well-established principle.�
In United States v. Richey, the Ninth Circuit Court of Appeals refused to protect an appraisal that a taxpayer, lawyer and accountant were trying to keep out of IRS hands.� In United States v. Hatfield, a federal court in New York also cut back on Kovel, forcing disclosure of discussions between the lawyer and accountant.
Kovel is still good law and the practice remains widespread.� But additional precautions, such as more rigid direction from the lawyer to the accountant and segregation of accounting and legal files, are good ideas.
For more, see:
Tax Amnesty: IRS�Voluntary�Disclosure�Part Deux
How Do you Opt Out Of IRS Voluntary Disclosure?
IRS Updates�Voluntary�Disclosure�Amnesty: What You Should Know�
IRS�Voluntary�Disclosure�A Mistake For Some�
Robert W. Wood practices law with Wood & Porter, in San Francisco.� The author of more than 30 books, including Taxation of Damage Awards & Settlement Payments (4th Ed. 2009, Tax Institute), he can be reached at wood@woodporter.com.� This discussion is not intended as legal advice, and cannot be relied�upon for any purpose without the services of a qualified professional.Source: http://blogs.forbes.com/robertwood/2011/06/21/can-irs-force-your-accountant-to-talk/
Former Chartered Accountant Pleads Guilty to GST Fraud - Marketwire (press release)
NEWMARKET, ONTARIO--(Marketwire - June 22, 2011) - The Canada Revenue Agency (CRA) announced today that Thomas Silverman of Vaughan pleaded guilty in the Ontario Court of Justice in Newmarket to one count of fraud over $5,000. Silverman, a former Chartered Accountant, committed GST fraud by registering three businesses and filing false GST returns on behalf of the companies, claiming a total of $4.5 million in fraudulent GST refunds. Silverman will be sentenced on September 12, 2011.
A CRA investigation revealed that Silverman registered three businesses for the purposes of claiming fraudulent Input Tax Credits and obtaining GST refunds. None of the businesses set up by Silverman were engaged in legitimate commercial or business activities. Silverman used the personal information of former clients to set up nominee directors for each company, as well as a commercial mailbox to suggest the legitimacy of the businesses. Silverman maintained exclusive control of all of the companies' bank accounts.
Silverman companies filed 116 GST returns between August 2000 and November 2003, claiming $4,538,024 in refunds to which his companies were not entitled. In total, Silverman received $3,800,000 in fraudulent refunds paid out to Silverman Companies and transferred to a personal bank account. The CRA determined that all of the claims were unwarranted and false.
The preceding information was obtained from the court records.
Individuals who have not filed returns for previous years, or who have not reported all of their income, can still voluntarily correct their tax affairs. They will not be penalized or prosecuted if they make a valid disclosure before they become aware of any compliance action being initiated by the Canada Revenue Agency (CRA) against them. These individuals may only have to pay the taxes owing, plus interest. More information on the Voluntary Disclosures Program (VDP) can be found on the CRA's website at www.cra.gc.ca/voluntarydisclosures.
Further information on convictions can be found in the Media Room on the CRA website at www.cra.gc.ca/convictions.
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County debates new accountant's salary - Post-Star
Meeting
* Warren County Board of Supervisors, Finance and Personnel committees, Wednesday.
Top Story
* Supervisors discussed amending policies regarding salary increases after a debate over paying a higher salary to a new junior accountant who was hired by the county Treasurer's Office. The new employee will make about $2,000 more than the person being replaced, and Deputy Treasurer Robert Lynch said the new employee is a certified public accountant with higher qualifications. Warrensburg Supervisor Kevin Geraghty, the county's budget officer, said he was "troubled" that the county was giving out pay increases as it faces budget problems.
Other news
* The county reached agreement with the Sheriff's Lieutenant Collective Bargaining Unit on a new two-year labor contract. The union represents three lieutenants with the county Sheriff's Office, who will get 1 to 1.3 percent raises and agreed to concessions on health insurance coverage.
* Supervisors decided to hold off on a request by the county Treasurer's Office to use $6,600 in occupancy tax surplus to create a system to put county tax records online. Other counties, including Washington and Saratoga counties, have this information online already, Treasurer Frank O'Keefe said. O'Keefe suggested occupancy tax money be used because his office administers occupancy tax payments.
* County supervisors will have to redo the process to create a local law that limits funeral protests because the legal notice about the law did not run as required in The Post-Star. The error was on the newspaper's part.
Source: http://poststar.com/news/local/article_5b69ce5c-939f-11e0-8f01-001cc4c03286.html
N.L. church accountant charged in $500K theft - CBC Olympics
Dozens of fraud and forgery-related charges were laid Monday against a former accountant at the Roman Catholic Archdiocese of St. John's after more than $500,000 was reported missing in January.
Former business manager Bill Power worked with the archdiocese for 38 years.
He has been charged with 35 offences alleged to have happened from 2003 to 2010, including:
- 10 counts of forgery.
- 10 counts of uttering forged documents.
- 8 counts of fraud over $5,000.
- 5 counts of fraud under $5,000.
- 1 count of criminal breach of trust.
- 1 count of unauthorized use of a computer.
The church filed a complaint with the Royal Newfoundland Constabulary's economic crime unit in January, alleging its own internal investigation uncovered the theft of about $500,000.
Archbishop Martin Currie said at the time that the money had gone missing from the church's operating budget and the theft could have been going on since 1997.
"This review uncovered significant discrepancies in the operating account of the archdiocese," the archdiocese said in a news release on Jan. 24.
"We determined that our former comptroller and business manager made unauthorized payments to himself, and to his pension account, throughout this period."
Parishioners informed
Donated money is used to fund chaplaincy services in hospitals such as the Janeway, St. Clare's, the Health Sciences Centre, the Burin Peninsula Health Care Centre and the Miller Centre, and in seniors homes and long-term-care facilities.
Last October, priests read a letter to parishioners at churches in eastern Newfoundland that said a business manager with the organization resigned recently, and an independent auditor had been hired to investigate the churches' finances.
The archdiocese said it hired an auditing company last year to review its books dating back to 2003.
Power, of Outer Cove, near St. John's, resigned from the church last fall. When called by CBC News in January, he would give no comment.
He was released Monday and will be back in court Aug. 2.
The archdiocese ? which covers most of the Avalon and Burin peninsulas ? brought in tougher financial guidelines after the internal audit.
Back to accessibility linksSource: http://www.cbc.ca/news/canada/newfoundland-labrador/story/2011/06/20/ml-power-fraud-620.html
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