The more assets you handle, the more complicated your tax returns get. If you are under investigation or facing charges of tax evasion, it is crucial to take immediate steps to protect yourself and your reputation.
As Super Bowl 50 draws near, we would like to remind you to take a look at our recent white paper: Are You Committing A Federal Crime By Playing Fantasy Sports? Despite the widespread popularity of fantasy sports, it is not entirely clear whether the activity is actually legal.
Playing fantasy sports is just a harmless pastime - or is it? In recent years, Federal prosecutors have become increasingly zealous in their attempts to crack down on white collar crime, and fantasy sports could be their next target.
The fantasy sports industry has expanded rapidly over the past several years, with sites like DraftKings and FanDuel drawing in millions of users year round. For some it is a casual hobby, while for others it is a substantial source of income. However, as we discuss in our new white paper, it may also be illegal.
Readers may have heard before of the U.S. Sentencing Commission or the Federal Sentencing Guidelines. The latter are rules which detail a uniform sentencing policy for federal judges to use in criminal cases. The rules are not binding on judges, but often determine how a judge will approach sentencing in a federal criminal case. The guidelines have recently undergone changes with respect to certain drug crimes, reflecting a policy change initiated by the Obama administration.