Watchdog news

Tax

Crime Watch: December 27, 2013

A sixty-three-count superseding indictment in a conspiracy to defraud the IRS was unsealed December 23. The indictment alleges that Primetime Tax Services Inc. was a tax return preparation business with three storefronts in the Minneapolis area.
Tax

Crime Watch: December 20, 2013

A San Jose, California, woman was convicted December 18 of a federal fraud charge for running a Ponzi scheme that bilked more than 250 victims out of approximately $9.5 million.
Tax

What a Difference a State Makes for Baseball All-Star Robinson Cano

It's official. New York Yankee Robinson Cano will soon switch coasts as a result of the contract that he signed with the Seattle Mariners. Both teams wanted the five-time All-Star second baseman, and both made nice offers.
Tax

Bernie Madoff Cried as His Empire Toppled

The name Bernard Madoff has become synonymous with investment scams after his firm defrauded investors of $20 billion in investments and $47 billion in fake profit his clients believed they had.
Tax

Crime Watch: December 13, 2013

Rathana Ung, the former director and officer of Lim's Income Tax and Lim's Tax, Inc., was sentenced to twelve months and a day imprisonment, one year of supervised release, and ordered to pay $103,736 in restitution to the IRS.
Tax

Boxer Manny Pacquiao Now Cornered by Two Tax Opponents

Boxer Manny Pacquiao had enough troubles holding off the tax authorities in his Filipino homeland. The BIR of the Republic of Philippines said he owed an enormous tax bill relating to income he earned fighting US matches in 2008 and 2009.
A&A

AICPA Survey Reveals Split Decision on Economic Outlook

The fourth quarter "AICPA Business and Industry US Economic Outlook Survey" reveals business executives view the economic prospects for the coming year through a split screen.
Tax

Who Knew? Donating Body Parts Is a Taxable Event

Mark Parisi wasn't kidding when he said he would give a testicle to own a shiny new car. That is, for donating his testicle, he expects to receive a "standard fee" of $35,000 with which he plans to buy a car. He just wanted to know if the transaction was taxable.
A&A

Bramwell's Lunch Beat: E-Filers Get Pat on the Back

Here are "Bramwell's Lunch Beat" menu items for December 6.
Tax

Crime Watch: December 6, 2013

Gary Mach was sentenced to sixteen months in prison, two months of house arrest, and eighteen months of probation and ordered to pay $270,725 in restitution to the IRS after previously pleading guilty to conspiracy to defraud the United States.
Tax

NFL Players Call Personal Tax Foul on Cleveland

As professional athletes' salaries continue to escalate, several revenue-strapped states seem to be looking to the athletes for a solution. Two NFL players are crying foul and taking one major city to court.
Tax

Bramwell's Lunch Beat: Your Order's Up!

Welcome to our first installment of "Bramwell's Lunch Beat." Each weekday around lunchtime, I'll provide you, the accounting and finance professional, with some bite-sized summaries and links to news articles that may be of interest.
Watchdog

Issa Fires Next Round in IRS Investigation

The high-profile committee investigating the Tea Party scandal engulfing the IRS is continuing its efforts to find a "smoking gun." But Treasury officials aren't moving as fast as some Republicans would like.
Tax

Lois Lerner Was Slammed for Playing 'Blame Game'

It's been revealed that the supervisor in the Cincinnati office accused of wrongdoings by Lois Lerner, former head of the IRS Exempt Organizations (EO) division, took umbrage when the finger was pointed her way.
Tax

Bernie Madoff Employees on Trial as Assistant Scammers

The name Bernie Madoff probably rings a bell. It has also been known to set off a few whistles and sirens. His well-publicized crime masterminded the biggest Ponzi scheme ever recorded.
Tax

Crime Watch: November 18, 2013

Chicago lawyer Gary J. Stern designed at least three tax-fraud schemes that helped hundreds of customers falsely claim over $16 million in improper tax credits and avoid paying income tax on at least $3.4 million.
Tax

IRS Warns Consumers of Possible Scams Relating to Relief of Typhoon Victims

On November 15, the IRS issued a consumer alert about possible scams taking place in the wake of Typhoon Haiyan.
Tax

TIGTA Wants IRS to Improve Security Risk Assessments

In a report released publicly on November 14, the TIGTA emphasized that the IRS should take further steps to improve security at some of its facilities.
Tax

IRS Hands Over Tax-Exempt Training Materials to Nonprofit Publisher

In response to a lawsuit initiated by Tax Analysts, a nonprofit publisher of tax information and expert analysis, the IRS has released almost 3,000 pages of training materials used by its EO division, most of them dating from 2012.
Tax

TIGTA Says IRS Efforts on International Tax Compliance Succeeding

The IRS International Campus Compliance Unit has improved international tax compliance of individuals to the tune of 18,000 audits conducted and approximately $36 million in additional taxes assessed for fiscal years 2011 through 2013.

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