Tax news March 2010

Tax

Charles Rangel steps aside as House Ways and Means chairman

Bowing to pressure from Republicans and Democrats in the U.S. House of Representatives, Charles Rangel, chairman of the tax-writing House Ways and Means Committee, agreed to step down “temporarily.”
Tax

Massachusetts tax attorney suspended for failing to meet tax filing obligations

Massachusetts Tax Attorney Kevin Kilduff has been barred from practicing before the Internal Revenue Service for 48 months for failing to file a federal tax return, and for filing another five returns late.
Tax

Thomson Reuters releases 2010 edition of Mexico Tax, Law, and Business Briefing

The tax and accounting business of Thomson Reuters recently updated its Mexico Tax, Law, and Business Briefing book, which is designed to help companies comply with Mexico's new tax and finance legislation changes, explore opportunities for minimizing the change impacts, and proactively manage audit risk.
Technology

QuickBooks at tax time: Cleaning up your client's QuickBooks data

Though QuickBooks is very easy to use, our clients often create numerous setup and data entry errors that we have to troubleshoot. This troubleshooting often coincides with tax time.
Tax

Millennials: Get the tax refund you deserve

The Illinois CPA Society offers six 2009 tax filing tips for the under-30 crowd
Tax

The prince of DC coffee gets a jolt from the king of sales tax

In Washington, D.C., Nick Cho is a local celebrity – at least among the coffee-loving crowd. He was the owner of a popular Capitol Hill hangout called Murky Coffee. Unfortunately for Cho, he’s been gaining fame for a less stimulating reason.
Tax

10 tips for small businesses to reduce risk of an audit

Company.com, an information and lead generation services portal for small and medium-sized businesses, has provided us with a list of ten tips for helping businesses avoid IRS tax audits.
Tax

Florida mayor owes IRS more than $200,000 in back taxes

Florida’s North Bay Village mayor allegedly hasn’t made a mortgage payment in nearly two years, lives in a house on which he had built an illegal second story, and owes the Internal Revenue Service more than $200,000 in back taxes.
Tax

Battle with IRS and bank leads man to raze his house

A few weeks ago Terry Hoskins had a 3,088-square-foot brick house that he and his wife had occupied since 1991. It was valued at more than $350,000 and he owed the bank about $160,000. Now the house is a pile of rubble.
Tax

Inmates turn incarceration into profit

At least 50 detainees at the Stock Island Detention Center near Key West, Florida, figured out how to scam the Internal Revenue Service out of $100,000 in bogus tax refunds.
Tax

Snoop Dogg, Spears: Potpourri of celebrities and their dealings with the tax man

Rapper Snoop Dogg, nee Calvin Broadus, is in trouble with the Internal Revenue Service again. On January 19, the IRS filed a lien with the Los Angeles County Recorder of Deeds against Snoop Dogg and his wife, Shante.

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