Tax news August 2009

Tax

Val Kilmer: It’s Batman vs. the Taxman

Who will win in a showdown between Batman and the Taxman? Action star Val Kilmer, who starred in "Batman Forever," may have learned recently that his superpowers are no match for the IRS.
Tax

IRS on the air: Federal tax agency embraces YouTube, iTunes

The Internal Revenue Service has announced the availability of video and audio products to provide tips for taxpayers looking for more information about 2009 tax provisions in the American Recovery and Reinvestment Act.
Tax

Intuit introduces ProLine as new SaaS tax software product

Intuit Inc. has announced its new ProLine Tax Online Edition, a program for tax professionals that is free for a limited time.
Tax

Even the mega-talented among us have to pay their bills

It’s not just the average man or woman who is facing financial problems, and it’s not always related to the economic turndown.  The name Annie Leibovitz is well known in and out of photography circles as an enormous, undisputed talent.  Some of her most famous works include the picture of nude, very pregnant Demi Moore, as well as photographs of Jack Nicholson and Mikhail Baryshnikov.
Tax

The 'Big 8' Generally Unacceptable Accounting Principles (GUAP) and the introduction of Socially Responsible Accounting (SRA)

The application of accounting principles is not based on fact, case law, statutes, regulations, code, truths, or empirical scientific evidence.
Tax

Swiss Bank UBS agrees to reveal U.S. secret accountholders

UBS agreed on Wednesday to turn over identifying information on 4,450 accounts which the IRS believes hold undeclared assets belonging to Americans.
Tax

Tax preparer performance standards to be discussed at public forum

Public forum will address review of paid preparers and produce recommendations to boost taxpayer compliance.
Tax

IRS agent fired for sending e-mail message about Barack Obama

Cruz Salas, an IRS agent who worked at the IRS office in Manhattan, has been accused of engaging in political activities at her office, a violation of the Hatch Act.
Tax

Former IRS agent convicted of filing false tax returns

A former revenue officer at the IRS and owner of a tax preparation business in Inglewood, CA, was convicted last week of conspiracy to defraud the United States by filing false tax returns.
Tax

TIGTA reviews IRS Tax Exempt/Government Entities anti-fraud program

The Treasury Inspector General for Tax Administration has released its review of the Internal Revenue Service's (IRS) efforts to increase the effectiveness of the Tax Exempt/Government Entities (TE/GE) Division's anti-fraud program.
Tax

Madoff accountant outlines fraud during guilty plea; judge denies bail

For at least 20 years, Frank DiPascali helped Bernard Madoff pull off what many consider the biggest Ponzi scheme in Wall Street history.
Tax

IRS begins mailing refunds to Madoff victims

The Internal Revenue Service has begun sending refund checks to Madoff investors who paid taxes on investment income from the giant Ponzi scheme.
Tax

House swapping becoming popular in a down market

House swapping has moved beyond vacation home swapping to what is often called “permanent swapping,” that is, homeowners are now trading their principal residences.
Tax

Nicolas Cage in tax trouble again

When it comes to income taxes, Nicolas Cage can’t catch a break.
Tax

Chris Tucker, star of "Rush Hour." gets a hefty tax bill from Arnold Schwarzenegger

Chris Tucker just got a bill from the cash-strapped state of California for $3,594,409. A lien was filed against him in Sacramento County Court on June 24th.
Tax

IRS prosecutes tax preparer for cheating on homebuyer credit

The Internal Revenue Service announced its first successful prosecution related to fraud involving the first-time homebuyer credit.
Tax

IRS warns of new identity theft scam

Would-be bilkers are using e-mail and provisions in new legislation to con taxpayers into giving up personal information.

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