U.S. Attorney for the Southern District of New York, Preet Bharara announced the charges and stated that the Criminal Investigation unit of the Internal Revenue Service and the Postal Inspection Service had contributed to the investigation. Prosecutors allege that Scali misappropriated funds and evaded his tax obligations.

According to prosecutors, Scali allegedly sought to defraud a prospective purchaser of real estate by misappropriating funds that had been held in escrow. He is also accused of failing to file personal and corporate tax returns and misleading the IRS as to the years for which he had not filed tax returns and his reasons for failing to do so.

The indictment also claims that Scali committed perjury and obstruction of justice when he allegedly provided false information in federal court.

Scali was arrested and arraigned on July 8. The six individual charges he faces each carry maximum sentences of between 3 and 20 years in prison. He is presumed innocent unless and until proven guilty.

One popular racket among scammers involves calling people on the phone, pretending to be from the Internal Revenue Service, and demanding immediate payment of taxes owed. They threaten jail time and often demand payment by a specific method. According to the IRS, at least 5,000 victims were cheated out of some $26 million since 2013 — an average of over $5,000 each.

You should know that the IRS virtually never calls taxpayers, and absolutely never demands immediate payment over the phone. They never demand a specific form of payment. And jail time for unpaid taxes is not common; it is a punishment usually reserved for people willfully avoiding large tax liabilities.

Criminals running more general scams often fraudulently obtain people’s credit reports. That way they can call about a debt you actually owe. Like those posing as IRS agents, these scammers will demand immediate payment via a specific method and threaten jail time or law enforcement involvement. They may be unusually harassing and rude.

Again, no legitimate debt collection agency is going to demand payment “today,” refuse to accept various forms of payment or threaten jail time. Another tell-tale sign is if the caller refuses to give a physical mailing address. If you call back and a live person immediately answers, or if you speak with the same individual each time you call, these are red flags. Real debt collection agencies have phone menus or receptionists and multiple agents, any of whom might work on your case.

Ignoring scare tactics and knowing how scams work can help protect you against scammers. For real problems with real debt, contact Osenton Law Office.

O. Reginald (“Reggie”) Osenton is the Owner and President of Osenton Law Office If you need a Brandon bankruptcy lawyer, attorney, call 813.654.5777 or visit http://www.brandonlawoffice.com.

The IRS made its timely announcement on October 30, just prior to the heavy shopping season of Thanksgiving and Christmas. The estate tax exemption — the amount a person can leave to heirs without being assessed a federal estate tax — will rise to $5.43 million per person in 2015, which is up from $5.34 million for this year. (1)

The IRS announced no change to the gift tax exclusion amount, which will remain at $14,000 for 2015. Cumulatively, all gift tax exclusions count against the lifetime estate tax exemption amount. However, it is important to remember that spouses wishing to leave as much in tax-free assets to their heirs as possible are each entitled to their own exemption. Thus, a couple will be able to bequeath $10.86 million tax-free in 2015, less the amount of any prior lifetime gifts. (2)

It is also important to remember that a person can give away gifts valued at $14,000 to more than one individual, and spouses can each give up to $14,000 to the same individual in the same year. And should a person wish to avoid the gift tax limit altogether, he or she can make a payment directly to a provider. This tactic is especially useful if, for example, a parent wishes to help an adult child with medical or housing expenses or with the purchase of a new automobile. (3)

Another rule that has not changed with respect to the estate and gift tax exclusions is that any gifts or assets bequeathed from a so-called family limited partnership are discounted in valuation for lack of marketability, and thus the gift tax and estate tax exclusions are maximized for those assets that are transferred through an FLP.

An experienced estate-planning attorney can discuss the advantages of an FLP with a person and establish such an asset-protection vehicle for them, as well as review and assist in the creation of other estate-planning options.

Contact an estate planning lawyer with the McDevitt Law Office of call 1-571-223-7642.