Legal issues | AccountingWEB.com

New York Tax Preparer Pleads Guilty to Filing Fictitious Tax Returns

01/06/2012 - 02:58 - 1160 reads - 1 comment

New York tax preparer Howard Levine has pleaded guilty to filing false tax returns containing contained fictitious deductions, business expenses, and corporate losses.

Pride of the Yankees? Hal Steinbrenner Sued by the IRS

01/03/2012 - 11:21 - 1209 reads

A lawsuit – filed by the IRS on December 27, 2011, in federal court in Tampa, Florida – aims to recover the funds issued to Hal Steinbrenner, managing general partner of the Yankees, on December 28, 2009. The refund resulted from a dispute between the Steinbrenner family and the IRS for the 2001 tax year as well as audits of the team's parent company for the 2001 and 2002 tax years.

IRS to MC Hammer: We Can Touch This

12/13/2011 - 10:41 - 2504 reads

It's Hammer time: The Internal Revenue Service (IRS) is going after MC Hammer for $779,585 it claims he owes in back taxes dating back to 1996 and 1997. According to entertainment news outlet TMZ, the federal government has initiated a lawsuit to recover the tax debt from Hammer.

Lawsuit Features Accounting for Nicolas Cage Film

12/12/2011 - 10:39 - 1526 reads

Nicolas Cage has faced plenty of tax troubles in the past. According to the 'Business Insider,' he currently owes over $14 million. Now a new lawsuit is targeting the accounting practices of one of his films, 'Bad Lieutenant: Port of Call – New Orleans,' a crime drama released in 2009.

Cybercrime Is on the Rise and No One Is Immune

12/07/2011 - 14:27 - 1405 reads

Magnifying_Glass,Fraud,Sneak,Spy,Fingerprint

Organizations and their managers need to take cybercrime seriously. According to PricewaterhouseCoopers' economic crime report, "Cybercrime: Protecting Against the Growing Threat," businesses face serious threats from cybercriminals, from both within and outside their organizations. The PwC report warns that cybercrime one of today's top four economic crimes.

Government Forces Showdown over H&R Block Merger with TaxAct

10/27/2011 - 14:02 - 2870 reads

The government is seeking to block a proposed merger by H&R Block, the country's largest tax preparation firm, in its first antitrust action in seven years. The outcome will likely resonate loudly throughout the industry.

Supreme Court to Decide on Tax Audit Statute of Limitations

10/06/2011 - 22:40 - 2448 reads

Can the Internal Revenue Service go as far back as six years to audit taxpayers, or is it limited to a three-year period?

Feds charge tax pro with filing thousands of false returns

09/15/2011 - 18:46 - 2393 reads

Do you tell your clients to comply with the tax law? Make sure you practice what you preach. In an extreme example, a tax return preparer in Washington D.C. is facing criminal charges in federal court for allegedly scamming the IRS out of almost $14 million.

Could you be breaking the law by not archiving e-mails?

04/14/2011 - 03:54 - 6671 reads - 1 comment

Think about it – almost all of your business communications and negotiations are performed via e-mail, making them important documents to keep for reference.

Sister act: Alabama tax prep sisters each face 129 years in prison

03/30/2011 - 22:07 - 4254 reads

Loretta and Tracey Fergerson have been indicted by a federal grand jury in the Middle District of Alabama on a variety of charges stemming from an identity theft and tax fraud conspiracy.