IRS

Tax

Leaders of Multimillion Dollar Fraud Ring Get 25 Years in Prison

Veronica Dale and Alchico Grant, who jointly ran a stolen identity refund fraud ring that attempted to defraud the United States of millions of dollars over several years, were sentenced to federal prison May 8, 2012, the Justice Department and the IRS announced.
A&A

IRS Cannot Extend Three-Year Limitation Due to Overstatement of Basis

In a recent decision that considers the authority of the IRS to issue retroactive regulations, the Supreme Court ruled in United States v. Home Concrete that the IRS may not apply an extended six-year limitations period in certain tax shelter cases.
Tax

Virginia Man Sentenced to Thirty-Six Months in Prison for Tax Evasion

Richard Jaensch, fifty-four, of Annandale, Virginia, was sentenced April 27, 2012, to thirty-six months in prison by US District Judge Gerald Bruce Lee, the Justice Department, and the IRS.
Tax

New York Tax Preparer Sentenced for Tax Fraud

New York Tax Preparer Sentenced for Tax Fraud Howard Levine, owner of a Dix Hill, New York, tax preparation business, was sentenced to thirty-seven months in prison for tax crimes, the Justice Department and IRS announced April 26, 2012. Levine was also ordered to pay $320,998 in restitution to the IRS.
Tax

IRS Backlog Has Stalled Responses to Offers in Compromise Requests

While the IRS has been successful in promoting a program that allows taxpayers to settle their tax bills for less than the full amount, the large number of applications and the shortage of IRS staff has created a backlog.
Tax

Massachusetts Man in Prison for Filing False Tax Returns

Kevin P. Mahoney of Massachusetts was sentenced April 24 to sixty months in prison following trial convictions on corruptly endeavoring to obstruct the administration of the Internal Revenue laws, filing false tax returns with the IRS, and criminal contempt of court, the Justice Department and the IRS announced.
Tax

Insurance Salesman Plead Guilty to Failing to File Income Tax Returns

Thomas Mitchell of Mansfield, Ohio, pleaded guilty before United States District Judge George J. Limbert of the Northern District of Ohio to criminal information charging him with willfully failing to file an income tax return with the IRS, the Justice Department and the IRS announced April 16, 2012.
Tax

Florida Tax Preparer Pled Guilty to Wire Fraud and Identity Theft

Ernst Pierre, a Port St. Lucie, Florida, tax preparer, pleaded guilty on April 24, 2012, to wire fraud and aggravated identity theft, the Justice Department and IRS announced. Pierre was charged with a scheme to file false federal income tax returns using stolen identity information.
Tax

Return Preparer Charged ‒ Preparing False Tax Returns for Drug Dealers

Rebecca Renae Powell, a resident of Wasilla, Alaska, has been charged with six counts of preparing false income tax returns for several clients whose primary source of income was from the sale of illegal narcotics.
Tax

IRS Alert: New Correspondence Audit Hotline Now Available

If the IRS is going to audit your client, it will most likely conduct a mail audit. In 2011, the IRS conducted 1.2 million mail audits, representing a 124 percent increase from ten years ago. In fact, the IRS conducts more than three out of four audits by mail.
Tax

Former Partner at BDO Seidman LLP Sentenced to Prison for Tax Crimes

Stephen A. Favato, a resident of Point Pleasant Beach, New Jersey, and a former partner in BDO Seidman LLP's Woodbridge, New Jersey, office, was sentenced to eighteen months in prison for tax crimes, the Justice Department and the IRS announced April 16.
Tax

Study Finds the Odds Favor IRS in Supreme Court Tax Cases

The odds are stacked against corporations whose disputes with the IRS go all the way to the Supreme Court, according to a new study by Joshua Blank, faculty director of the graduate tax program at NYU law school, and Nancy Staudt, a tax scholar at the University of Southern California, Gould School of Law.
Tax

New Case Spotlights 'Hobby Losses' of Filmmaker

Filmmaker Lee Storey, who produced and directed the documentary "Smile 'Til It Hurts: The Up with People Story," has emerged from a protracted battle with the IRS with a giant smile on her face.
A&A

TIGTA: IRS Can Take Action to Recognize/Investigate Fraud Indicators

By better ensuring that fraud indicators are recognized and properly investigated during field audits of individual tax returns, the IRS could increase revenue by an estimated $20 million a year, according to a report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA).
Tax

Pennsylvania Tax Defier Sentenced to More Than Six Years in Prison

Troy Beam of Pennsylvania was sentenced April 10 to 74 months in prison by US District Judge Christopher C. Conner, the Justice Department, and the IRS. On May 4, 2011, Beam was convicted of tax evasion, obstructing and impeding the due administration of the IRS laws, and willful failure to file federal income tax returns.
Tax

DC Tax Return Preparer Indicted for Preparing False Tax Returns

A federal grand jury in the District of Columbia returned an indictment charging Enyinnaya Udo with twenty-five counts of aiding and assisting in the preparation of false income tax returns, the Justice Department and the IRS announced April 6.
Tax

Lionel Richie Sings a Different Tax Tune

Lionel Richie, the legendary singer who rose to fame with the Commodores and then carved out a highly successful solo career, has been slapped with a tax lien of $1.1 million by the IRS for unpaid income taxes attributable to the 2010 tax year.
Tax

Woman Used Stolen Identities and Debit Cards to Obtain Tax Refunds

On April 17, 2012, the Justice Department, US Attorney George L. Beck Jr., and the IRS announced that federal grand jury in Montgomery returned an indictment on March 28, 2012, charging Antoinette Djonret for using stolen identities to file false tax returns.
Tax

Skier Lindsey Vonn's Tax Problems Snowball

Renowned skier Lindsey Vonn wasn't able to clear one hurdle that all taxpayers face. According to a news report, Vonn owes more than $1.7 million in taxes from 2010, a staggering total.
Tax

Let the IRS Notices Begin

You’ve finished the bulk of tax preparation. Sit back and relax. But don’t get too comfortable, because you can also expect the IRS to start studying the accuracy of returns and taking action on misreporting, underpayments, and errors. The IRS sends most notices to taxpayers within eighteen months after they file.

Pages


Already a member? log in here.