Tax news June 2013

Tax

IRS Contractor Cheated His Way to $500 Million in Questionable Bids

Scandals, scandals everywhere, and not an excuse to make. This seems to be the atmosphere at the IRS, as one problem after another has been revealed in recent weeks.
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

IRS Scandal Shifts Focus to Russell George

With a Democrat in the Oval Office, the screams heard around the country were that the targeting of conservative groups was politically motivated, maybe even ordered by the Obama administration. Now the focus has shifted.
Tax

TIGTA Report Reveals Bogus IRS Refunds

If it seems like everyone is ganging up on the beleaguered IRS, the truth seems to be more along the lines of long-term problems that are just now coming into focus.
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

Werfel's Report Outlines IRS Changes to Ensure Accountability and Chart a Path Forward

IRS Principal Deputy Commissioner Danny Werfel issued a report June 24 outlining new actions and next steps to fix problems uncovered with the IRS' review of tax-exempt applications and to improve the wider processes and operations in place at the IRS.
Tax

Crime Watch: June 21, 2013

A Washington man who advised and assisted others in a common tax fraud scheme, was sentenced June 14 in US District Court in Tacoma to ninety-seven months in prison and three years of supervised release.
Tax

New Legislation Would Make Enrolled Agents Easier to Find

Ohio Senator Rob Portman and Louisiana Congressman Charles Boustany Jr. introduced legislation on June 11 that would allow enrolled agents to be able to identify themselves with their Treasury Department-granted credential in any state in the country.
Tax

Social Security Wage Base Projected at $115,500 for 2014

The Social Security Administration (SSA) Office of the Chief Actuary (OCA) has projected that the Social Security wage base will increase from $113,700 for 2013 to $115,500 for 2014.
Tax

Eliminating Tax Evasion Is Core Piece of G8 Ten-Point Plan

G8 leaders, who met in Northern Ireland, developed a ten-point plan, the Lough Erne Declaration, which calls for more information sharing between tax authorities and improved transparency to prevent tax avoidance.
Tax

Soccer Star Lionel Messi: A Tax Mess or Example?

UPDATE: "El Periodico," a Spanish publication, reports that in spite of protesting the government's claims, Lionel Messi and his father, Jorge Horacio Messi, have paid an enormous sum in additional back taxes and will not face tax charges.
Tax

IRS Provides Few Answers to NSA on the Retirement of Two e-Services

The National Society of Accountants met recently with IRS officials to discuss why the agency is retiring the Disclosure Authorization and Electronic Account Resolution e-services products on August 11 and options to allow these services to be continued.
Tax

Sinbad's Mountain of Tax Debt: It Ain't So Funny

For comedian Sinbad, life hasn't been all that fun for the last several years. Right now he's in debt to the tune of nearly $11 million. Of this amount, more than $8 million is owed to the IRS and another $2.3 million to the state of California.
Tax

Faith Evans' Tax Mess: More Blues than Rhythm

It sounds like small potatoes compared to other celebrities in tax trouble, but it's bad enough to pump up the blues for rhythm and blues singer Faith Evans. Evans is into the state of California for $29,535.48 relating to her 2011 income.
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.
Tax

Acting IRS Head Daniel Werfel Receives Temporary Title Change

The acting head of the IRS will be given a different title until President Obama nominates a permanent commissioner for the tax enforcement agency. The title change is called for under the Vacancies Reform Act.
Tax

Is e-mail a 'Smoking Gun' in IRS Scandal?

Who knew what about the "Tea Party scandal" and when? Congress continued to dig deeper into the matter last week as it interviewed staffers from the Cincinnati office of the IRS where "rogue" agents allegedly initiated the actions.
Tax

IRS Confirms Plans to Retire Two e-Services Products in August

The IRS announced it will retire the Disclosure Authorization and Electronic Account Resolution e-services products August 11. The IRS stated it increased the number of employees and improved its internal processes in response to this change.
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.
Tax

IRS Suspends Two Officials for Taking Conference Perks

Following a new report from the Treasury Inspector General for Tax Administration turning the spotlight on a 2010 conference in California, the IRS announced it has placed two of its employees on administrative leave for "inappropriate behavior."

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