Check out the Tax Prophet's Action Guides

The Action Guides cover the following topics: (1) Independent Contractor vs. Employee; (2) Tax Planning for Foreign Taxpayers; (3) Wealth Preservation Techniques; (4) Tax Strategies for Employee Stock Options; and (5) The Folly of Off-Shore Asset Protection Schemes.

Expert Witness: Robert Sommers provides expert tax advice and analysis (as an advisor or expert witness) involving suspicious or complex U.S. and foreign tax issues and transactions, bogus asset-protection schemes, abusive tax shelters, phony "pure trust" arrangements and "sovereign citizen" arguments.

TV Appearances - Video Clips

1.  Power Lunch - CNBC - AMT/ISO Interview (3/19/01).

 

2.  CNN - Tax Scams on the Web - Senate Finance Committee hearing involving tax and trust scams on the web (4/5/01).

 

3.  CNNfn - Tough Call - AMT/ISO Discussion - A debate regarding reforming the AMT (7/5/01).

 

4.  Tech TV - Corporate Tax Deductions for Non-Qualified Stock Options.

 

Updated Monthly: Newsletters

 

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If you think you can avoid paying income taxes by using a "Pure," "Pure Equity," or "Constitutional" trust, check out the Tax Prophet's new  Tax and Trust Scam Bulletin Board and save yourself a lot of money and potential grief!

  April 5, 2001 -- Tax Prophet Testifies at Senate Finance Committee Hearing Regarding Tax Fraud on the Web.

At a Congressional hearing covered by major new organizations, Robert Sommers was one of five tax experts testifying before the U.S. Senate's Finance Committee.  Mr. Sommers spoke about the "pure trust" tax scam and how the web has increased the number of con artists promoting it.  Parts of his testimony appeared on CNN news and in the New York Times. 

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Latest News, Newsletters and Postings

News

June, 2005 - Tax Prophet was quoted in the New York Times regarding KPMG's admission of criminal conduct regarding its abusive tax-shelter business.

Tax Prophet Newsletters

2008

April, 2008 Wesley Snipes Headed for Club Fed

March, 2008 2008 Dirty Dozen Tax Schemes

February, 2008 The Economic Stimulus Act of 2008

January, 2008 The Wesley Snipes Trial

2007

December, 2007 The Mortgage Debt Tax Relief Act

November, 2007 NY Yankee Derek Jeter - A Tax Outlaw?

October, 2007 Tax Consequences of Mortgage Foreclosures

September, 2007 Trust Transfers and Proposition 13 - Part Two

August, 2007 Trust Transfers and Proposition 13 - Part One

July, 2007 A Major New Tax Loophole for Tax Exempt Entities

June, 2007 The Private Equity Tax Loophole

May, 2007 Congress Shafts Families Saving for College

April, 2007 Tax Consequences of Stock Option Backdating

March, 2007 IRS Attacks Private Trust Annuity Tax Ploy

February, 2007 Selected Divorce Tax Traps

January, 2007 Introducing the Ownership Continuity and Control Plan ("OCC Plan")

Other Postings:

April, 2007 Memo: Tax Consequences of Stock Option Backdating

February, 2007 Memo: IRS Targets Private Annuity Trust Tax Ploy

February, 2007 Memo: Derivium Loan Update: IRS Targets Derivium Loan Transactions

January, 2007 Article: Recent Congressional Fix to the ISO AMT Tax Trap - intermediate

An article describing the AMT Credit refund legislation inacted in December, 2006.

October, 2006 Lecture Outline: Recent Experiences with Audits of Overseas Taxpayers and Foreign Accounts - Strategies to consider when defending overseas taxpayers in audits involving foreign-source income and foreign bank accounts.

December, 2006 Newsletter: Update: Foreign Earned Income Exclusion, an outline of recent tax-law changes.

February, 2005 - IRS Crackdown on Executive Stock Option Tax Shelters

A memo discussing the IRS tax shelter settlement initiative involving employee stock option transfers by executives to their family-owned entities.