Watchdog news December 2013

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.