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Income tax

Election 2012

Obama and Romney Slug It Out Over Taxes

Democratic incumbent President Barack Obama and Republican challenger Mitt Romney have sparred over taxes. Now that the gloves are finally off, both nominees have come out swinging full force.
Tax

Angel Albert Pujols Living in Tax Hell

Chances are, even greatly higher taxes won't tarnish the halo that comes with a ten-year, $254 million contract to play for the Angels. No matter where he plays, with a salary like that, Albert Pujols will pay the highest rate.
Tax

Two Tax Deadbeat Rappers

Two popular Rap artists, Flavor Flav and Bubba Sparxxx, are in big trouble with the IRS. They both owe big bucks for neglecting to pay their taxes.
Election 2012

Romney Touts Himself Small Business 'Champ'

Republican nominee Mitt Romney delivered the acceptance speech expected of him at last week's Republican National Convention, repeatedly hammering President Obama on what many consider to be his weakest flank: jobs and economic growth.
Tax

NAEA Takes on Outdated Tax Provisions

The NAEA has announced its intent to focus its advocacy efforts on tax code provisions in desperate need of reform and to work with other interested stakeholders in requesting that Congress address this important issue.
Tax

IRS Fears Tax Refund Delays

Do you think this year's tax return season was a nightmare? Wait until next year! The upcoming election and its potential fallout have IRS officials tossing and turning at night as they contemplate another year when expiring tax provisions will go down to the wire.
Tax

Fifteen-Year Prison Sentence for Tax Fraud

Gino Carlucci was sentenced to 188 months in prison for his role in conspiracies to commit money laundering and to defraud the IRS as well as for filing a false income tax return.
Tax

Tax Return Preparer in Kansas Shut Down

A federal court in Kansas City, Kansas, has permanently barred Ahferom Goitom from preparing federal tax returns for others.
Election 2012

Paul Ryan's Fiscal Policies under the Microscope

The Republican candidate for vice president, Paul Ryan, is a staunch conservative known for controversial fiscal policies. Would his proposals to reform the federal income tax and Medicare systems "destroy" or "save" the country, as some have claimed?
Tax

Tax Refund Fraud to the Tune of $2.8 Million

Larreka Jackson, an Alabama tax preparer, was indicted on twenty-five counts for conspiring to file false tax returns using stolen identities, filing false claims, wire fraud, and aggravated identity theft.
Tax

Husband and Wife Face YEARS in Prison

A married couple has been charged with running a fraudulent advance fee scheme and tax evasion. The twenty-six count indictment seeks forfeiture of at least $3.7 million.
Tax

Nine-Year Prison Sentence for Tax Defier

An Arizona man was sentenced on August 10, 2012, to nine years in prison and ordered to pay fines of $1,021,500.
Tax

Identity Theft Fraudster Jailed for 81 Months

Yumeitrius Manuel was sentenced to eighty-one months in federal prison for filing false tax returns using stolen identities. The court also ordered Manuel to pay $52,242 in restitution to the IRS.
Tax

IRS Fraud Detection Failures. Shulman's Job on the Line?

A new report released by the TIGTA accuses IRS agents of "looking the other way" while illegal immigrants were assigned false ITINs. A key member of the House's tax-writing committee is calling for Commissioner Shulman to resign.

Federal Court Shuts Down Florida Tax Preparers

A federal court in Florida has permanently barred Sharon Angulo and Claudia Zuloaga from preparing federal tax returns for others. The two had filed tax returns claiming tax refunds based on fake withholding.
Tax

Man Allegedly Falsified Returns to Maximize EITC

The Justice Department has asked a federal court in Chicago to bar Bruce E. Grant from preparing tax returns. The suit alleges that Grant frequently fabricates business income and expenses to maximize EITC.
Tax

Tax Preparer Goes to Jail for Close to Five Years

Texas tax return preparer, Eddye Lovely, was sentenced to fifty-seven months in federal prison for aiding and assisting in the preparation of false tax returns.
Tax

Couple Sentenced for Hiding Millions Offshore

Sean and Nadia Roberts were sentenced July 30 before US District Court Chief Judge Anthony W. Ishii to twelve months and one day in prison for hiding millions of dollars in secret offshore bank accounts.
Tax

Treasury Department Unveils Model FATCA Agreement

The Treasury Department has just released a new "model agreement" designed to facilitate global information sharing about investments under the Foreign Account Tax Compliance Act (FATCA) of 2010.
Tax

House Approves Firing of Tax-Delinquent Federal Workers

The House approved legislation on July 31 that would require the federal government to terminate workers with "seriously delinquent" tax debts.

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