In case you're thinking that maybe Wesley Snipes has a good point when it comes to lowering income taxes, the Internal Revenue Service wants to remind potential tax scam artists that it does not plan on ignoring frivolous tax evasion arguments.
A former resident of Cincinnati was sentenced to 30 months in prison by U.S. District Judge Sandra S. Beckwith for aiding and assisting in the preparation of false client tax returns and for filing a false individual income return, the Justice Department and Internal Revenue Service announced.
Michael Moore rose to fame for documentaries like Fahrenheit 9/11. As the highest grossing documentary, it brought in $222 million. Moore received $20 million of the profits in a 50-50 split with his partners, Bob and Harvey Weinstein. Now, he is taking them to court for more.
When the U.S. Securities and Exchange Commission tells a CPA, “Thou shalt not practice,” they don’t mean maybe. The SEC filed a settled enforcement action January 11 against Michael R. Drogin, of New York and New Jersey.
Stephen Durland, a former Palm Beach, Florida, accountant made a fortune as an investor . . . sort of. He’s accused of operating a $30 million investment scam in California. If convicted, Durland could be looking at 25 years in prison, plus a $5 million fine.
A lot of young people would have loved Matthew Rudolph’s job as an accountant for NBC’s show 30 Rock. As it turns out, there might be a vacancy. After being accused of padding his corporate expense account to the tune of about $13,600, Rudolph is now awaiting arraignment.
New details have emerged on the methods used and the outcomes following the case of 47-year-old convicted embezzler Sujata “Sue” Sachdeva, who was the trusted 15-year veteran vice president of finance, secretary, and principal accounting officer of Koss Corporation.
This year's report identifies 21 problems, provides updates on four previously identified issues, makes recommendations for administrative and legislative change, and analyzes the 10 tax issues most frequently litigated in the federal courts.
You may remember Albert Bront. He's the guy who greeted federal agents at his home by screaming, "I'm going to kill all of you!" The agents were there to execute a search warrant in 2009 based on an investigation of tax returns prepared and filed by Bront.
The New York Attorney General has filed a lawsuit against Ernst & Young, accusing the firm of helping Lehman Brothers hide its financial weakness from investors from 2001 until the investment bank collapsed in 2008.
July was a busy month for the SEC. Five of the enforcement cases charged or settled that month involved large, well-known companies, including KBR, Goldman Sachs, Dell, General Electric, and Citigroup.