Watchdog

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.
Tax

Star athlete, celebrity wife surprised by tax lien

Even nice guys end up in tax trouble sometimes. Former Detroit Lions quarterback Rodney Peete and his actress wife, Holly Robinson Peete, did not see it coming…the Internal Revenue Service lien for more than $156,000 that hit them last summer.
Tax

Sharpton, his civil rights organization facing tax issues

Troubles continue to mount for the Reverend Al Sharpton, both personally and for his civil rights organization. The Internal Revenue Service has filed a tax lien against Sharpton in the amount of $538, 652.
A&A

Greed is good: Wall Street sequel opens 23 years after original

More than two decades have zoomed by since Oliver Stone's blockbuster film Wall Street appeared on theatre screens across America, capturing the go-go 80s and the era's money-must-be-made vibe.
Tax

Stealing your way to prosperity one bogus tax refund at a time

After learning that a Florida man is accused of getting $2.7 million in bogus tax refunds, you might think stealing from the IRS is like taking candy from a baby. Actually, many of the identities that Bryan A. Copeland allegedly used to file fake tax returns did belong to children.
Tax

Homebuyer credits: Like taking candy from a baby?

The federal homebuyer tax credit can be considered a great boon to the housing market and the economy, or as a phenomenal waste of tax dollars. The watchdogs over at the Internal Revenue Service have taken another look at the credits.
Tax

Audit report: IRS must set deadline for SSN fixes

The Internal Revenue Service needs to pick a deadline to stop or reduce the use of Social Security numbers on its outgoing correspondence, according to a new audit report.
Tax

Terrorist? No. Tax debtor. Yes.

A Yemeni man held on suspicion of terrorist activity was released by Amsterdam authorities earlier this month. After some confusion, Ahmed Mohamed Nasser al Soofi was found to have no terrorist connections, but a hefty unpaid tax bill in the amount of nearly $14,000.
Tax

Reality Star Teresa Guidice Caught in Financial Pickle

You don’t have to be a financial wizard to understand that you shouldn't go on lavish shopping sprees just days after you file bankruptcy papers. While that goes for everyone, it’s especially true for celebrities who are likely to be recognized.
Practice

Management example, peer pressures bring benefits

Research studies from the Ethics Resource Center examine how a strong ethical culture and effective tone at the top permeate through all levels of an organization, while a study by the Association of Certified Fraud Examiners emphasizes the importance of an anonymous hotline for the reporting of misdeeds.
Tax

UPDATE: Actor, tax evader Wesley Snipes faces accusation of stalking

More than a month after Wesley Snipes lost his bid for a new tax trial, his name continues to appear in court documents and news headlines. Most recently, a New York woman has accused him of stalking her as a way to resolve his tax woes.
Tax

Crocodile Dundee's Paul Hogan feels the bite of the tax man

Crocodile Dundee star Paul Hogan owes tax on AU $37.6 million (approximately $34 million U.S.) of undeclared income, according to the Australian Tax Office, which temporarily banned him from leaving the continent until he agreed to pay up.
Tax

Rapper Young Buck working on a deal with the IRS

Just a few weeks ago, rap star Young Buck (nee David Darnell Brown) made headlines of a dubious nature. That’s when Internal Revenue Service agents raided his home at gunpoint.
A&A

AICPA contracts NACVA to develop course for CPA forensic credential exam

The American Institute of Certified Public Accountants has engaged the National Association of Certified Valuation Analysts to develop a course to help CPAs prepare for the qualifying exam for the Certified in Financial Forensics credential.
Tax

IRS expected to drop UBS lawsuit

Officials with the Internal Revenue Service last week said that the agency would drop its civil lawsuit against UBS following assurances from the Swiss government that it was in the process of delivering information on thousands of American clients suspected of using UBS accounts to evade U.S. taxes.
Tax

Convictions upheld, fine reduced in KPMG tax shelter case

A $6 million fine levied against former KPMG LLP senior manager John Larson for selling illegal tax shelters was reduced by half last week by a U.S. appeals court.
Tax

'Tax Lady' Roni Deutch: Charlatan or political target

You’ve probably seen the hard-hitting advertisements from Roni Deutch advising taxpayers who owe federal taxes to let her help them fight the Internal Revenue Service. Now, California Attorney General Jerry Brown is fighting her.
Tax

'Who’s the IRS?' Spanish former day trader about to find out

When Marcos Esparza Bofill got a tax bill from the Internal Revenue Service for more than $172 million, he asked a friend, “Who’s the IRS?” He’d spent more than a year working as a day trader in New York. Yet, he never heard about a little ritual we call: paying income tax.

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