US Tax Evasion Not Limited to Overseas Accounts
It’s Monday and that means it’s time to look at some of the most interesting articles this week in the world of expat taxes, finance and life! This week we highlight the tax evasion conviction for the owner of a US pizza franchise, Happy’s Pizza. This story is significant because so much attention has been given to the US’ global efforts to reduce tax evasion but it’s important to remember that they are still actively pursuingcompanies and people who may be cheating the government!
Tax evasion is no small matter to the IRS
FATCA has brought global attention to the IRS’ efforts to thwart tax cheats, but the IRS hasn’t forgotten about tax evasion right here in the US! Happy Asker, founder of Detroit-based Happy’s Pizza has been sentenced to 50 months in prison, followed by 3 years of supervised release for tax crimes and conspiracy to defraud the United States.
Mr. Asker was convicted on 28 counts of aiding and assisting the filing of false returns for Happy’s Pizza franchises and one additional count of engaging in a corrupt endeavor to obstruct and impede the administration of the Internal Revenue Code. According to prosecutors, Asker was underreporting income and salaries for its franchise locations by using 2 sets of books and 4 other defendants (franchise owners) pled guilty to the fraud before Asker’s trial even began.
Wondering how they caught him? Read the full story here!
Expats share their struggles while living abroad
“If you had to do it all over again, would you still move overseas?” If you are like most expats, the answer is a resounding yes! But that doesn’t mean the expat lifestyle doesn’t come with some challenges. For example, for a German in China, the hardest part was “finding my way to make a bank account, finding a clinic, a dentist, a hairstylist. Not being as in control because we don’t understand the language.”
Family life brings extra challenges for expats. From issues with the quality of schools to raising a family without the assistance of family and friends put a lot of stress on many expats.
The Wall Street Journal Expat Blog conducted a poll to find out how readers felt about their overseas experiences–the good, the bad and the ugly. This article outlines some of the most interesting comments and the common challenges the readers reported. If you have ever struggled with expat life, check out this article and find out how others feel about the same issues you are facing each day!
Featured In
