Tax news May 2009

Tax

IRS breaks records with e-file activity this Spring

The Internal Revenue Service has announced a record 90 million tax returns were filed electronically this year, led by a big increase in people using home computers.For the first time, more than 30 million individual income tax returns were filed from home computers. By April 24, the IRS had accepted 31.2 million returns filed from home computers, up 19.3 percent from the same time last.IRS e-file broke the 90 million mark this year.
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Tax

Third promoter of Wesley Snipes’s tax strategy faces prison

Jerry R. Williamson, who allegedly promoted tax avoidance strategies to the actor Wesley Snipes and thousands of other customers of the Florida-based American Rights Litigators/Guiding Light of God Ministries (ARL), pleaded guilty to mail fraud in Federal court in Washington DC on Friday April 24 in connection with the schemes. Williamson, who was indicted last year along with Snipes's tax adviser Eddie Ray Kahn and three other associates, faces up to 20 years in prison. Williamson admitted that he that he sent a fictitious "Bill of Exchange" purporting to be drawn upon the U.S.
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Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?
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Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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