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Wisconsin Neurosurgeon Charged With Tax Fraud
A man from Greendale, Wisconsin, was recently charged with four counts of filing false tax returns and four counts of failing to file foreign bank account reports, according to the Milwaukee Journal Sentinel.
Arvind Ahuja is accused of failing to report approximately $8.7 million that was hidden in an Indian bank account. The funds were not declared in tax returns from 2006 to 2009, the news source reported. Another $1.2 million in account interest was also not reported to the Internal Revenue Service.
All American citizens are required to inform the IRS of any foreign accounts, according to the news source. Specific forms need to be filled out if a person has an overseas account with more than $10,000 in it over the course of a year.
If convicted, Ahuja faces a maximum of three years in federal prison and a fine of $250,000 for each tax return count, the news source reported. He also can be sentenced to a maximum of 10 years in prison and a fine of $500,000 for each foreign account charge.
His attorney, Dan Webb, thinks the charges are incorrect and Ahuja would be acquitted of any and all wrongdoing, the news source added.