SANTA ANA—An Irvine, Calif., man has agreed to plead guilty to tax evasion for failing to report interest income from his bank accounts in Hong Kong and Singapore, federal prosecutors announced April 13. Jean Guy Minn, 56, a South Korean national who lives in Irvine as a legal permanent resident, was charged April 13 with…
Irvine Man Agrees to Plead Guilty to Tax Evasion
Top Earners Dodge Taxes by Failing to Report 21 Percent of Income: Study
The top 1 percent of U.S. households by income fail to report 21 percent of their earnings to the IRS—a level far higher than previous estimates—according to a joint study between the tax collection agency and academics, who reached for new tools to gauge just how much people avoid paying taxes. Studying the problem of…
Top Earners Dodge Taxes by Failing to Report 21 Percent of Their Income: Study
The top one percent of households by income fail to report 21 percent of their earnings to the Internal Revenue Service (IRS)—a level far higher than previous estimates—according to a joint study between the IRS and academics, who reached for new tools to gauge just how badly people cheat on their taxes. Studying the problem…
Luxembourg Fund Industry Is a $5.4 Trillion ‘Black Box,’ Investigation Says
LONDON—Luxembourg’s investment fund industry is a financial “black box” that helps people launder illicit money and avoid tax, according to an investigation published on Monday whose findings were rejected by the EU nation. The OpenLux investigation by journalists from a group of media organizations, including Le Monde, Le Soir, the Miami Herald, and Sueddeutsche Zeitung,…
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