Watchdog

Tax

Charlie Sheen to the Rescue for Lindsay Lohan

This hasn't been a great year for Lindsay Lohan. It started with an IRS tax lien for about $94, 000 for 2009 income, followed closely by another for nearly $150,000 for 2010 income.
Tax

Crime Watch: November 28, 2012

Today's tax crime cases include that of a woman who's headed to prison for close to two years for filing at least seventy-six fraudulent income tax returns, falsely claiming refunds of approximately $533,434.
Tax

Ex-Miami Marlins Face Tax Tsunami in Canada

Multimillion-dollar contracts are nothing unusual in major league baseball, and neither is trading. But the problem for five recently traded Marlins is that their remaining contracts will be paid out subject to much higher taxes.
Tax

Uncertain Fate for Sports Lovers' Tax Break

"Bloomberg" news reports that based on their calculations, tax deductions for sports ticket owners cost the rest of us more than $105 million a year in tax revenue that the Treasury can't get its hands on. Yet.
Tax

Football and Tax Fraud at U of South Dakota

In mid-November, nine people were indicted by a federal grand jury on charges of tax fraud conspiracy and identity theft. The defendants include four former athletes from USD and one current member of its football team.
Tax

Crime Watch

Today's tax crime news includes a case against a Virginia tax fraud promoter whose customers allegedly filed more than $67 million in false refund claims, and a New York tax preparer charged in a scheme involving $7 million in fraudulent deductions.
Tax

Nobody Beatz the Tax Man

A new wife, a new baby on the way, a multimillion-dollar house in escrow, and reports of back tax bills totaling more than $2.6 million. That's how rapper/producer Swizz Beatz has made news as the year draws close to the end.
A&A

Accounting Tool Keeps Billions in Profits Overseas

New research found that an obscure accounting tool gives US companies the option of omitting from their financial statements, except in footnotes, that any taxes at all are owed to the IRS on profits made by their foreign subsidiaries.
Tax

IRS Issues 'Storm Warnings' to Taxpayers

The IRS has sounded alarms of a slightly different nature than the ones issued by meteorologists earlier this month: A nationwide call for taxpayers to avoid scams in the wake of Hurricane Sandy.
Tax

Crime Watch

Today’s Crime Watch includes coverage of a Barbados national sentenced to 114 months in prison and ordered to pay restitution of just under $1.7 million for devising and executing a stolen identity federal income tax refund fraud scheme.
A&A

International Fraud Awareness Week

Hundreds of organizations worldwide have partnered with the Association of Certified Fraud Examiners (ACFE) to participate in International Fraud Awareness Week, November 11-17 to promote antifraud awareness and education.
Tax

IRS Provides Additional Relief to Hurricane Sandy Victims

Following recent disaster declarations for individual assistance issued by the FEMA, the IRS announced November 2, 2012, that affected taxpayers in Connecticut, New Jersey, and New York will receive tax relief.
Tax

Tax Court: CPA Is Whistling in the Wind

The IRS recently told a CPA to "put his whistle away" because he wasn't entitled to a reward for turning in a fraudulent taxpayer. Now the Tax Court has upheld the IRS' decision in a new case of first impression.
Tax

Money Laundering Is Dirty Business

What do a California CPA and a former Italian prime minister have in common? Chances are they'll soon both be viewing life from behind iron bars for their crimes of money laundering and tax evasion.
Tax

AICPA Asks IRS for Broader Tax Relief

The American Institute of CPAs (AICPA) has asked the IRS to consider broader relief from filing deadlines for individuals and businesses affected by Hurricane Sandy.
Technology

Companies Struggle to Keep Pace with Information Security Solutions

Organizations need to fundamentally shift their approach to information security in order to meet the threats presented by existing and emerging technologies, according to recent research.
Tax

Prepare for Potentially Looming "Fiscal Cliff"

As the end of the year grows closer, so does the uncertainty surrounding the "fiscal cliff" and tax planning for the future. The ICPAS is advising you to be prepared.
Practice

Weathering Sandy: Advice, Assistance, Notifications from CPA Societies and Others

Post-Sandy, CPA societies, government offices, and other organizations are providing information and resources to assist those impacted by Hurricane Sandy. We will keep you updated as news comes in.
Practice

Accounting Firms Weathering Initial Stage of Sandy

Although Hurricane Sandy has yet to make landfall, her effects are being felt among small and big accounting firms in the Northeast as they swing full throttle into disaster-prep mode.
Tax

Crime Watch

Our latest roundup of criminal cases includes a US postal worker who has been indicted for his involvement in stolen identity fraud and embezzlement. If convicted, he faces years of jail time.

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