Watchdog | AccountingWEB



More of Lindsay Lohan's "Believe It or Not" Tax Life

Not even George Lucas could put together a story as unbelievable as Lindsay Lohan's real life. The drama, the self-destructive antics, and the financial devastation go on and on and on with no end in sight.

Crime Watch: January 31, 2013

Florida tax return preparer Torrey Burden allegedly fabricated and inflated deductions and credits to fraudulently reduce customers' tax liabilities. The IRS projects that the tax loss from the returns prepared by Burden could exceed $1 million.

Plaxico Burress Needs Professional Help

NFL wide receiver Plaxico Burress needs a good financial advisor . . . or a team of them. He seems to be his own worst enemy, with a long track record of self-inflicted wounds – financial, physical, and behavioral – followed by a career-crashing stint in prison.

Crime Watch: January 24, 2013

A tax return preparer in Florida allegedly falsified tax returns that cost the US Treasury more than $17 million. After examining over 250 tax returns, the IRS found that over 90 percent understated the taxpayer's liability.

Accounting Fraud Prompts $580 Million Write-Down at CAT

Underscoring the importance of performing extensive due diligence before investing in the world's second largest economy, construction equipment giant Caterpillar got burned to the tune of $580 million.

Uncle Sam Takes "Real Housewife" to Task

Sheree Whitfield, the ex-wife of former Atlanta Falcons tackle Bob Whitfield and a former star on reality TV show "Real Housewives of Atlanta," is in trouble with the IRS for failure to pay taxes in 2009 and 2010.

Jon Gosselin - From Stardom to Average Guy to Tax Deadbeat

When Jon Gosselin walked away from his wife in 2009, he also walked away from the income derived from their reality TV show, "Jon & Kate Plus 8." He hasn't paid any taxes since splitting with Kate; the result is a tax lien of $39,000.

Tax Lien Hits Music Legend Stevie Wonder

Nobody is immune from the long arm of the California Franchise Tax Board, not even one of the key entertainers at President Obama's inaugural ball. The good news is Stevie Wonder can handle it. The tax lien is for a mere $40.

Court Rules IRS Can't License Tax Return Preparers

A federal court struck down the IRS's licensing effort that would have required thousands of independent tax preparers to pass a competency exam and abide by a litany of new rules.

Tips to Help Prevent Identity and Data Theft

Information security is a 24-7, year-round job. Failing to properly monitor and respond in real time to threats exposes organizations, clients, and business partners to risks that could do significant harm to their companies.

Patricia Cornwell Sues Accountant for Financial Mismanagement

A high-profile court case in Boston, now in its second week, raises questions about where accountants and financial advisors fiduciary responsibilities for clients end.

O.J. Simpson Hit with Tax Debt and Foreclosure

In prison for a total of thirty-three years, and he's still drawing fire from multiple sources. O.J. Simpson is being targeted by the IRS, and it's not the first time. The tax agency just filed a second lien on him for 2011 income.

Crime Watch: January 16, 2013

Masood Chotani, a CPA and tax return preparer, was indicted by a federal grand jury on charges of engaging in a scheme to file false tax returns with the IRS using the names and Social Security numbers of deceased individuals.

TIGTA to IRS: Get Tough on Noncash Charitable Contributions

TIGTA estimates that more than 273,000 taxpayers claimed about $3.8 billion in potentially erroneous noncash charitable contributions in tax year 2010, which resulted in an estimated $1.1 billion reduction in tax.

Movie Deal Meets Wire Fraud: IRS to the Rescue?

The movie was supposed to involve Hollywood giants like Kevin Costner, Ron Howard, and James Brooks. It was supposed to be based on the book "A Matter of Time" and make the book's author, Don Kirchner, a fortune.

Crime Watch: January 9, 2013

A Florida woman – who owned or controlled undeclared foreign financial accounts in excess of $42 million in 2007 and who caused a tax loss to the government of approximately $667,716 – has been ordered to pay a $21 million civil penalty.

Cyberattacks and Hacktivism – Take Cover!

Cybersecurity experts at Deloitte are warning that when it comes to cyberattacks, it's not a question of "if" but "when." A new study shows 88 percent of technology, media, and telecommunications companies don't think they're vulnerable.

As 2012 Ends, Celebrities Pay Tax Debts, Sort Of

The Lindsay Lohan story never ends. To recap, 2012 started for her with two IRS liens. For 2009, she owed about $94,000 and for 2010, another $140,000. Next came a series of reports about bad behavior and financial irresponsibility.

Rapper Fat Joe Takes the Rap with the IRS

Like so many celebrities, the rap star who calls himself Fat Joe got behind on his taxes. But unlike many famous tax deadbeats, he's willing to take responsibility for his own blunder instead of blaming his handlers or lashing out at authorities.

Gerard Depardieu Just Says No to Supertax

Gerard Depardieu's departure from France may have been premature. As December rolled to a close, the harsh "temporary supertax" that French President Francois Hollandee sought to impose on individuals he calls "the rich" was soundly rejected.


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