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November 17, 2009    
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Editor's Note
The Treasury Inspector General for Tax Administration (TIGTA), aka the IRS's Watchful Eye, has some interesting revelations about the Make Work Pay Credit that should give tax preparers an excuse to contact their clients and talk about withholding before the year is over. And for tax preparers who have some questions about this whole business of e-filing, there is an IRS interactive Web cast scheduled for Wednesday that you might want to attend. As always, feel free to contact us at AccountingWEB if you have any questions, suggestions, or comments about our articles and resources.

Best wishes,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com
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The potential negative impact of the Make Work Pay Credit
Last spring, Congress passed the American Recovery and Reinvestment Act of 2009 with provisions designed to stimulate the economy, including the Make Work Pay Credit (MWPC). The idea was to put more money into the pockets of individuals by way of their paychecks. But because of the unusual way the credit is administered, the Treasury Inspector General for Tax Administration (TIGTA) warned that instead of benefitting, some taxpayers will find themselves owing federal taxes and possibility penalties. That concern triggered a TIGTA review.
Nicolas Cage sues business manager for tax woes
The tax fun seems to never end for Nicolas Cage. Now the IRS is after him for $6.26 million in taxes owed on his 2007 income. Plus there's a second lien for more than $360,000 from income earned between 2002 and 2004.
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Michigan attorney and client sentenced for tax crimes
A Michigan attorney has been sentenced to five years in prison for attempting to defraud the government. His client received a hefty fine and probation.
The taxman comes rapping for rappers Method Man, Nas, and DMX
Clifford Smith, better known as the rapper Method Man or simply Meth, is battling the New York State Department of Taxation over back taxes of $52,503. He says there is no problem, but the state recently took his 2008 Lincoln Navigator in payment of the taxes. Even so, he tells reporters, he is not broke. The problem is not a lack of money... it's his love of marijuana.
IRS will try to sell e-filing to tax professionals
Tax professionals can hear first hand from their colleagues and e-mail questions to the Internal Revenue Service about the benefits of IRS e-file during a free November 18 Webinar, E-file: Building the Case, A Panel Discussion with Tax Professionals.
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