The Department of Justice today released a statement about UBS client, Steven Michael Rubinstein, a chartered accountant living in Boca Raton, Fla., who pleaded guilty to filing a false tax return for tax year 2004. Rubinstein was charged with filing a false tax return that intentionally failed to disclose the existence of a Swiss bank account maintained by UBS of which he was the beneficial owner and failed to report any income earned on that account. “Combating offshore tax evasion by wealthy taxpayers continues to be one of the IRS’ top priorities,” said IRS Commissioner Doug Shulman. “The IRS is committed to vigorously pursuing those who illegally hide their money offshore as well as the financial institutions which... [Read more]

The Walt Disney Company is teaming up with Learning Tree to offer Disney Institute professional development programs in select cities throughout the U.S. Beginning August 2009, the relationship will bring a broad range of Disney Institute content to Learning Tree Education Centers, enabling individuals and intact work teams to select content that is ideally suited to meet their organizations’ needs. “Disney Institute and Learning Tree are great complements to one another, and these new programs will deliver innovative Disney content into these exceptional education centers,” said Jeff James, vice president for Disney Institute. “Both organizations share a commitment to providing outstanding service, which ensures that... [Read more]

On Tuesday the Appraisal Institute released a statement in response to a comment by Lawrence Yun, National Association of Realtors chief economist, who stated that the increase in existing home sales in May was less than expected because poor appraisals are stalling transactions. Yun further claimed that faulty valuations are keeping buyers from getting loans. Bill Garber, Director, Government and External Relations responded: “We take offense with the notion that an appraisal is only good if it happens to come in at the sales price. That mentality helped cause the mortgage meltdown to begin with. The fact that the value reflected in the appraisal does not match the sales price is not the fault of the appraisal but a result of the market... [Read more]

Today PricewaterhouseCoopers LLP (PwC) launched Project “Make [responsibility] Count”. This two-day community outreach initiative in New Orleans involves 150 partners, staff and college students from across the country assisting in the city’s ongoing recovery efforts after Hurricane Katrina. The project is part of PwC’s larger commitment to create responsible leadership by promoting a culture of volunteerism, youth education and leadership development. The initiative is being coordinated locally with HandsOn New Orleans and will provide assistance at four locations in the city, each relating to one of the four core pillars of PwC’s Corporate Responsibility commitment: Marketplace, People, Communities and Environment. Students... [Read more]

The Appraisal Institute today released a valuable guide to understanding the real estate cycle. While many factors affect the value of homes including the laws of supply and demand, their quick reference guide to spotting a turning point in the market should be a priceless resource to would-be investors, especially first timers! Ten signs that the the real market has hit bottom: A spike in local sales activity – a spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon. Higher asking and selling prices vs. appraisal value opinions for residential properties -... [Read more]