New Jersey news

Tax

Crime Watch: June 28, 2013

A California man was sentenced to two years imprisonment, three years of supervised release, and ordered to pay $11,738,000 in restitution for aiding in the evasion of payment of federal payroll taxes.
Tax

Rapper Fat Joe Sentenced on Tax Evasion Charges

Last December, Rapper Fat Joe – real name Joseph Cartagena – was convicted of tax evasion on nearly $3 million of income from 2007 and 2008. The tax shortfall with penalties comes to more than $1 million, plus a $200,000 fine.
Tax

Crime Watch: June 13, 2013

Melvin Mooring, a Gainesville, Virginia, accountant, was sentenced to six years in federal prison for stealing $3.3 million from the company where he served as the chief financial officer. He had pleaded guilty to wire fraud and tax evasion charges in March.
Practice

2013 Best Public Accounting Firms for Women Announced

The 2013 Accounting MOVE Project list of Best Public Accounting Firms for Women is drawn from the thirty-seven firms that participated in the project. Firms were ranked on the range, depth, and success of programs and workplace culture proven to remove barriers to women's success.
Tax

Crime Watch: June 7, 2013

An Alabama woman was sentenced to ten years in prison and ordered to pay $1,198,063 in restitution. Rhashema Deramus and those working for her stole people’s identities and used them to file fraudulent tax returns and obtain tax refunds that were not owed to them.
Education & Careers

NJSCPA Names Its "50 Over 50"

The New Jersey Society of Certified Public Accountants (NJSCPA) has announced its inaugural list of the "50 Over 50." These seasoned CPA practitioners and members of the NJSCPA were selected for their continuing impact on the accounting profession in the Garden State and beyond.
Tax

Mary J. Blige Is Singing the Taxman Blues

She's a nine-time Grammy winner and a phenomenally successful R&B singer. But for reasons that aren't apparent, Mary J. Blige and her husband, Martin Isaacs, are buried in tax and financial troubles.
Tax

Rapper Ja Rule's Tax Evasion Time Served, Mostly

Rapper Ja Rule spent the last nearly two years in prison at Ray Brook Correctional Facility in upstate New York on charges that included illegal gun possession and tax evasion. Now he'll finish his sentence on home confinement.
Tax

Update: Lauryn Hill’s Tax Case Leads to Prison

Last month, Grammy-winner Lauryn Hill asked the judge in her tax evasion case for probation. Not because she is a celebrity but because she wanted to work in order to pay the taxes she admitted owing. Things didn't turn out exactly as Hill planned.
Tax

Internet Sales Tax Clears Senate Hurdle

New legislation authorizing the states to collect sales tax from companies peddling their wares online breezed through the Senate on May 6 by a wide 69-27 margin. But the Marketplace Fairness Act is expected to face much tougher opposition in the Republican-controlled House of Representatives.
Practice

Merger Gives Marcum Foothold into Real Estate Industry

In an effort to expand its real estate practice, New York City–based national accounting and advisory firm Marcum LLP has merged with Cornerstone Accounting Group, a real estate accounting and assurance firm also based in Manhattan. Financial details of the merger were not disclosed.
Tax

Lauryn Hill May Avoid Prison for Tax Evasion

Eight-time Grammy-winning singer Lauryn Hill was back in court April 22, presumably for sentencing in the tax evasion case against her. With three possible counts of tax fraud against her, she was facing a year in prison for each count.
Practice

How a Firm Makes the Vault Accounting 50

This is the fourth year that Vault has released its top fifty rankings. During the summer and fall of each year, Vault determines which firms should be included in its initial pool of candidates.
Tax

Tax Freedom Day Finally Arrives for 2013

Tax Freedom Day® arrives today, the 108th day of 2013, according to the Tax Foundation's annual calculation. Americans will work well over three months of the year before they have earned enough money to pay this year's tax obligations.
Practice

Mix of Old and New Comprise 2014 Vault Accounting 50

Vault.com released its 2014 Vault Accounting 50, a ranking of the fifty best accounting firms in the nation to work for. The survey asked more than 7,900 accountants to assess their peer accounting firms on a scale of one to ten based on prestige and quality of life factors.
Tax

Crime Watch: April 12, 2013

The United States has filed a civil injunction lawsuit seeking to shut down Mo' Money Taxes of Memphis, Tennessee. The complaint alleges that the estimated tax loss from fraudulent tax return preparation at Mo' Money Taxes in 2011 exceeds $9 million.
Tax

Dionne Warwick: "Say a Little Prayer" for Singer's Tax Woes

Singer Dionne Warwick's back taxes are paid up now, said her publicist. The taxes are paid, but because some of those taxes went unpaid for almost two decades, she still owes $10.2 million in penalties and interest. Ouch!
Tax

IRS Opens Window Longer for Sandy Victims

The IRS is throwing yet another life preserver to taxpayers who were victimized by Hurricane Sandy. Under a new Notice, these taxpayers now have until October 15, 2013, to deduct their disaster-area losses on a 2011 or 2012 return.
Tax

Crime Watch: February 26, 2013

The United States has asked a federal court in Memphis, Tennessee, to permanently bar Ahmed Grant and Lillian Madyun from preparing federal income tax returns for others. The estimated harm to the government is over $2 million for the 2010 tax year alone, and may be as high as $5 million.
Tax

AICPA Asks Congress to Amend Hurricane Sandy Tax Relief Act

The American Institute of CPAs (AICPA) is asking Congress to amend its Hurricane Sandy tax relief legislation by extending the replacement period for which taxpayers can claim a property loss.

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