Lawmakers in Mississippi are tackling the pervasive use of automated sales suppression devices, commonly known as “zappers,” by businesses to hide a portion of their sales and thereby avoid paying
Continue Reading Mississippi Is Latest State to Consider Outlawing Tax “Zapper” Software
BNA’s Michael J. Bologna and Paul Shukovsky have written a comprehensive article about a pervasive problem facing state tax auditors: the use by restaurants and other cash-intensive businesses of electronic
Continue Reading BNA Reports That Tax-Zapping Software Costs States $21 Billion in Taxes Annually
Connecticut’s Department of Revenue Services (DRS) has arrested and charged a New Haven restauranteur with various offenses for using sales tax suppression software. According to a press release announcing the
Continue Reading Connecticut Announces Arrest of Restaurant Owner for Using “Zapper” Tax Suppression Software
Over at the In The Weeds blog (which explores developments in cannabis law and business), Melissa T. Sanders writes about the recent publication by the Treasury Department’s Financial Crimes Enforcement
Continue Reading FinCEN Issues Marijuana Banking Update
T
he Financial Crimes Enforcement Network (FinCEN) and Office of the Comptroller of the Currency (OCC) yesterday announced the assessment of a $7 million civil money penalty against Merchants Bank
Continue Reading FinCEN and OCC Impose $7 Million Penalty on California Bank for “Egregious” Anti-Money Laundering Violations
The Bank Secrecy Act requires U.S. taxpayers to file FBARs with the U.S. Treasury disclosing any interest in, or signature authority over, foreign financial accounts with assets in excess of
Continue Reading California District Court Finds Failure to File FBARs was Willful Despite Application for Voluntary Disclosure Program
In December, the Justice Department announced criminal charges against John Yin, a software salesman who worked for a Canadian company that sells point of sale (POS) software programs that enabled
Continue Reading A Federal Crackdown On Tax Zapper Software
In December, the Justice Department announced criminal charges against John Yin, a software salesman who worked for a Canadian company that sells “point of sale” software programs that enabled restaurants
Continue Reading Feds Crack Down on Use of “Tax Zapper” Software by Restaurants and Other Cash Businesses