Incomplete or missing documentation led the IRS to delay processing 43,295 Adoption Credit claims and approve more than $11 million in erroneous claims, according to a report publicly released by TIGTA.
With all the talk about income tax increases and cuts, you'd think there would be more discussion about a pending estate tax bombshell. But the prospect of higher estate taxes in 2013 doesn't appear to be a concern on the Hill.
Masood Chotani, a former CPA who spent the last three years as a fugitive in Pakistan, was arraigned July 12 on charges that he conspired to defraud the United States and made false claims for income tax refunds.
On July 10, a Newport News, Virginia, federal grand jury indicted Jeffrey Charles for conspiring with his daughter and son-in-law to defraud the United States, the Justice Department and the IRS announced.
Megastar Rihanna is fighting the accountants whom she blames for mishandling her finances and federal tax returns. She and her touring company are seeking tens of millions of dollars in compensatory damages.
An Escondido man plead guilty July 5 to one count of lying to IRS Criminal Investigation and Immigration and Customs Enforcement special agents who were investigating a mortgage fraud and money laundering scheme.
Amazon.com began collecting taxes on its online sales in Texas on July 1, prompting an "it's about time" reaction from state retailers who believe the online giant has enjoyed an unfair advantage for too long.
Ellen Meredith Stubenhaus, previously of Lake Worth, Florida, and later an expatriate living in Costa Rica, was sentenced to sixty months in prison. She previously had plead guilty to conspiracy to defraud the United States.
The Supreme Court ruled to uphold much of the PPACA, which puts in motion the expansion of the health care system, including the individual mandate requiring all U.S. citizens to maintain minimum health care coverage or pay a penalty.
"Doomsday prophet" Ronald Weinland was found guilty of federal tax evasion on June 13. It appears the jury didn't buy in to Weinland's excuse: he didn't pay his taxes because he believed the world was coming to an end.
Apparently, singer Lauryn Hill has changed her tune about her tax troubles. June 29, the Grammy award winner pleaded guilty to failure to pay federal income tax on more than $1.8 million earned by four corporations she owns.
Voice of the Editor
Hi. I’m Caleb and I’m new around here.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.