Depreciation, Passive Losses, Exchanges, and the 2025 Tax Law Real estate offers some of the best tax benefits in the federal tax code. Those benefits come with conditions, and investors who miss them can lose…
Two Sets of Books, One-Way Ticket
Jalal Nimer Asad’s liquor stores kept two sets of books. He structured more than $4 million in cash withdrawals and then spent 15 years in the West Bank as a federal fugitive. Jason Carr explains…
Location, Location, Liquidation
Miami developer Rishi Kapoor raised about $89 million, bought a 68-foot yacht, and left $1.3 million in employee payroll taxes unpaid. I walk through the emails, the false QuickBooks entries, and how a payroll tax…
The $32 Million Address Change
Christopher Dowtin obtained Treasury checks meant for two businesses after false changes to their IRS account information. I follow the forms, the returned and reissued checks, and the brokerage-office encounter that led to a three-year…
The Godfather’s Other Ledger
Iris Rabaya Au set up companies and bank accounts used in the operation of a self-styled crypto “Godfather.” After moving more than $2.6 million into her personal accounts without reporting it, she pleaded guilty to…
Double-Booked
A Jackson Hole hospitality business trusted a bookkeeper with payroll, bank accounts, and tax reporting. After moving to Hawaii and continuing the job remotely, Laura Marie Means diverted nearly $1.5 million, disguised transfers as ordinary…
The Superbowl Bribe
A Navy civilian employee accepted premier sporting-event tickets, expensive meals, family employment, and recurring cash while steering federal contracts. Jason Carr examines the procurement records, concealed metadata, false tax returns, and six-year prison sentence. (more…)
Cannabis and Taxes
What Operators Need to Know About 280E, COGS, Cash, and Audit Risk A state cannabis license does not make federal tax treatment simple. Cannabis operators face overlapping federal, state, and local rules. These rules affect…
The Tax Shelter That Wouldn’t Die
Former CPA Michael J. Moore sold a “Special Tax Shelter Strategy” through a Las Vegas firm specializing in adult-entertainment clients. After pleading guilty, he concealed his identity and resumed filing false returns. (more…)
When the IRS Comes Knocking
How to Survive an Audit An IRS audit notice can feel overwhelming, but most audits are routine reviews of specific items on a specific return. Being selected does not mean the IRS believes you did…