Who would've ever thought Beanie Babies would emerge as part of a tax evasion scheme? Only in America. But on September 19, the billionaire creator of Beanie Babies, Ty Warner, was hit with charges of tax evasion.
The "Tea Party scandal," which has been quietly simmering for several weeks, may boil over once again. A leading Republican lawmaker says the IRS continued to target conservative groups after they'd been granted tax-exempt status.
Beth Ann Pettyjohn of Englewood, Colorado, was sentenced to serve twenty-eight months in federal prison for failure to pay over employment tax. The judge also ordered her to pay $4,669,532.05 in restitution to the IRS as well as a $25,000 fine.
The IRS announced it is providing tax relief to individual and business taxpayers in four Colorado counties impacted by the recent severe storms that have caused flooding, landslides, and mudslides in that state.
A couple from Iowa and a Las Vegas accountant were charged September 11 with conspiring to defraud the IRS of more than $700,000 by allegedly using nominee corporations and bank accounts to hide their income and other assets.
On September 5, the US Department of the Treasury and the IRS issued proposed regulations to implement the information reporting requirements for insurers and certain employers under the Affordable Care Act.
A video the IRS released to the House Ways and Means Committee on September 6 that parodied Donald Trump and his show "The Apprentice" was made using taxpayer dollars at a total cost of approximately $10,000.
A little-noticed tax change could have a major tax impact on business clients who own and operate restaurants or other establishments that commonly add automatic gratuities to the bills of large parties.
David Haigler, who pleaded guilty in US District Court for the Middle District of Alabama September 5, 2013, to one count of theft of public funds and to one count of passing US Treasury checks with forged endorsements, faces twenty years in prison.
The US Department of the Treasury and the IRS on August 30, 2013, ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes.
A surprising number of Americans living abroad are giving up and saying "uncle" to Uncle Sam. In quarter two of 2013, more Americans – 1,130 – renounced their citizenship than in all of 2012. That's in addition to 679 in the first quarter.