Watchdog

Tax

IRS, FBI seeking financial records of Florida Republican Party

The Republican Party of Florida has been served with a subpoena seeking financial records related to $500,000 in charges on American Express credit cards issued by the party.
Tax

Get through airport quickly by keeping your fashion sense at home

Fellow travelers: Take a cue from Fergie, the latest victim of the Transportation Security Administration’s more aggressive airport screening procedures. The singer learned that being a celebrity didn’t earn her the privilege of avoiding the much-criticized tactics at LAX.
Tax

IRS Doghouse Web site enables consumers to rate IRS employees

Consumers with a bone to pick with the IRS have the opportunity to share their experiences. Originally designed as an IRS profile database, IRSDoghouse.com has evolved into a free and anonymous Web site where anyone can rate agency employees.
Tax

UBS releases names of U.S. taxpayers with unreported accounts

The Internal Revenue Service has dropped its legal action against Swiss bank UBS AG after the Swiss government handed over the names of 4,000 U.S. taxpayers who had undisclosed accounts at the bank.
Tax

SEC charges two Madoff employees with fraud

The Securities and Exchange Commission has charged a pair of longtime employees at Bernard L. Madoff Investment Securities LLC with playing key roles in the Madoff Ponzi scheme.
Tax

Rep. Charles Rangel gets his day in court, faces an unexpected loss

Rep. Charles Rangel (D-N.Y.) once again is in the news for ethics violations. For more than two years, Rangel, the former chairman of the House Ways and Means Committee, has been the target of an investigation involving a growing list of charges.
Tax

Convicted felon hired to teach accounting at university in Missouri

Missouri Southern State University has hired a convicted felon, who embezzled at least $129,000 from a former employer, to teach accounting.
Tax

Actor Wesley Snipes taken into custody for tax evasion

Actor Wesley Snipes, known for his roles in White Men Can't Jump and Blade, has been taken into custody by federal authorities to begin serving three years in prison for failing to file income tax returns.
Tax

Increased motivation for whistle-blowing

New statutory and regulatory changes provide greater rewards to individuals who blow the whistle on fraudulent activities and to organizations that actively encourage an effective ethical culture.
Tax

SEC, Madoff associates settle civil charges

Associates of convicted fraudster Bernard Madoff and the U.S. Securities and Exchange Commission have agreed to settle civil charges.
Tax

NBA's Lamar Odom cries foul, challenges IRS

Los Angeles Lakers forward Lamar Odom is accustomed to facing formidable opponents on the basketball court. But these days, he’s taking on the Internal Revenue Service in a different court setting over what he sees as a personal foul.
Tax

Legal showdown between Roni Deutch, Jerry Brown heats up

Heading into the next tax season, California Attorney General and Governor-elect Jerry Brown is still dogging “Tax Lady” Roni Deutch with fraud charges.
Tax

Four celebrities face battles with the IRS

Even the thin, beautiful, and talented have to pay their fair share of taxes. Beverly Johnson, Janice Dickinson, Jaime Pressly, and Toni Braxton have run-ins with the IRS.
Tax

TIGTA questions handling of foreclosures

Recent legislation aimed at easing foreclosure proceedings, along with a rise in loan modification activity, has not done enough to address the need for intervention, according to the Treasury Inspector General for Tax Administration (TIGTA).
A&A

Learn to spot occupational fraud, resolve gaps

How much fraud is occurring in your organization? None, you say? Hold on before you commit to that answer! You might just be surprised at the amount – and the fact that it is probably going on without your knowledge or suspicion.
A&A

Assessing your company's fraud risk

The most recent study by the Association of Certified Fraud Examiners (ACFE), The Report to the Nations – 2010, indicates that, on average, an organization loses 5 percent of top-line revenue to internal fraud alone.
Tax

FTC rule prohibits debt-relief companies from collecting up-front fees

Starting today, for-profit companies marketing debt-relief services over the telephone are prohibited from charging a fee before they settle or reduce a customer’s debt to the Internal Revenue Service, credit card company, or other unsecured debt.
Tax

Serial tax evader pleads guilty

A former Pittsfield, MA, man pleaded guilty this week in federal court in Boston to his role in a series of frauds and attempts to avoid paying taxes over more than a decade, as well as lying to federal authorities and financial institutions about his illegal activities.
Tax

Federal judge shutters American Tax Relief

You’ve probably seen the ads for American Tax Relief. They claim to provide help to beleaguered taxpayers by dramatically reducing tax debt, including penalties and interest. But chances are good you will not be seeing those ads again anytime soon.
A&A

IASB cracking down on window dressing

The International Accounting Standards Board (IASB), the global body whose rules are used in more than 100 countries, has strengthened regulations requiring banks to disclose window dressing transactions.

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