AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
IRS Is Looking At 200 RE Cases.(Brief Article)
Washington -- The U.S. Internal Revenue Service said it initiated nearly 200 real estate fraud investigations in fiscal year 2004 and secured 89 convictions for tax fraud and money laundering.
"In recent years, the booming real estate market has helped increase mortgage fraud and other phony real estate schemes. The perpetuators of these schemes range from mortgage brokers looking to make a fast buck to drug dealers laundering their ill-gotten gains," the IRS said.
The most common schemes involve property flipping, straw buyers and submission of false settlement statements to lenders.
In one case sited by the IRS, George Monk of Greensboro, N.C., recruited mortgage brokers to submit false information to lenders so that straw buyers could obtain mortgage loans. Monk promised the buyers he would make the monthly mortgage payments and quickly transfer the ...
- Real Estate Roundtable Welcomes IRS Action Allowing CMBS Loan Modifications
- Newspaper article from: U.S. Newswire September 15, 2009 700+ words
...USNewswire/ -- The Real Estate Roundtable today...Revenue Service (IRS) tax rule (Revenue...allow commercial real estate borrowers to proactively...within a REMIC -- IRS has taken a very...crisis in commercial real estate," said Roundtable...
- IRS Investigates Real Estate Investors
- Newspaper article from: The Washington Post Kenneth R. Harney December 3, 1988 700+ words
...properties. Announced to IRS staff prior to Thanksgiving...filed this year by real estate owners claiming deductions...The second special IRS real estate study concerns a...upshot of the new IRS probes if you own...form of investment real estate? Even if some ...
- Real Estate Roundtable Welcomes IRS Action Allowing CMBS Loan...
- Newspaper article from: Real Estate Weekly News October 2, 2009 700+ words
The Real Estate Roundtable today...Revenue Service (IRS) tax rule (Revenue...allow commercial real estate borrowers to proactively...Treasury and the IRS to eliminate or mitigate...restructurings. Keywords: Real Estate Roundtable, Capital...
- DELOITTE & TOUCHE TAX ALLOCATION SCHEDULE K-1 SOFTWARE HELPS REAL ESTATE...
- Press release article from: PR Newswire March 18, 1996 700+ words
...clients ensure IRS compliance, conduct...national director of Real Estate Tax Services...companies hold real estate because of the...these entities by IRS regulations...professionals help real estate investors identify how IRS regulations will...
- IRS Issues Guidance Relating To The Treatment Of Foreign Currency Gains Of Real...
- News wire article from: Mondaq Business Briefing May 31, 2007 700+ words
The IRS recently released...currency gains of real estate investment trusts...from overseas real estate operations. The guidance shows that the IRS is beginning to provide...that have overseas real estate operations and operate...
- IRS Takes Efforts to Fight RE Fraud to a New Level.(Internal Revenue Service...
- Magazine article from: Origination News March 1, 2004 700+ words
...brokers. The number of real estate fraud investigations conducted by the IRS criminal unit has...fraud and other phony real estate-related schemes," the IRS said in a two-page...the fight against real estate fraud," the IRS said. Copyright...
- IRS Targeting Real Estate Fraud.
- Magazine article from: National Mortgage News February 2, 2004 700+ words
...The number of real estate fraud investigations...conducted by the IRS criminal unit...and other phony real estate-related schemes," the IRS said in a two...the IRS said. IRS investigators...in cases where real estate agents fabricate...
- New IRS rulings affect investors; Foreign holders of U.S. real estate and hedge...
- Magazine article from: Investment News August 4, 2008 700+ words
...foreign investors in U.S. real estate. Until 1980, when the...aliens have been covered by IRS Code Section 897. In its new revenue ruling, the IRS concluded that payments...swap over a broad-based real estate index would not be subject...
