Watchdog

Tax

Multimillion-Dollar Stolen Identity Refund Scheme

Three defendants who had pleaded guilty to various charges, including conspiracy to file false claims, theft of public funds, and aggravated identity theft, were sentenced to prison September 19.
2021
Tax

The Prince of Tax Trouble?

Not only is recording artist Prince in deep with the IRS, but his tax troubles now extend overseas as well. Prince was summoned by the IRS at the request of French authorities to appear before the French tax agency.
2530
Tax

Tax Preparer Arraigned on 25-Count Indictment

A Texas tax preparer has been arraigned for preparing and presenting false federal income tax returns on twenty-five separate occasions between 2008 and 2011.
1947
Tax

Former Pilot Will Spend Ten Years in Prison

A former US Airways pilot, Charles A. Davis, was sentenced to 120 months in prison for committing tax fraud. He was also ordered to serve twelve months of supervised release after his prison term and pay the IRS $538,569.
1690
Tax

New Directive to Fight Stolen Identity Fraud

The Justice Department's Tax Division has issued Directive 144 to further the efforts of the Tax Division and the US Attorneys' offices to respond quickly to the challenges in stolen identity refund fraud cases.
2138
Tax

Prison Sentence for Tax Fraud Promoter

William Scott Dion was sentenced to eighty-four months in prison for conspiring to defraud the United States and for obstructing the IRS. He was also ordered to pay restitution in the amount of $3 million.
1757
Tax

Tax Preparers Misusing Power of Attorney Forms

Some tax preparers are circumventing standard IRS procedures by using an electronic power of attorney form to obtain tax transcripts, increasing the risk that taxpayer information is being disclosed without proper authorization.
4588
Watchdog

CFO Accused of Murder-for-Hire on His Employer's Dime

Wealthy Texas CFO Frank Howard is accused of embezzling millions from his employer. This comes on the heels of his arrest in late August for allegedly hiring a teenage hit man to kill his wife.
3959
Tax

Chicago Lawyer Helped Wealthy Clients Dodge Taxes

In what is considered the largest tax fraud prosecution in history, a Chicago lawyer, Donna Guerin, has pleaded guilty to helping rich clients evade millions of dollars in taxes.
2271
Tax

Swiss Low-Tax Gig Is Up for Wealthy Foreigners

Rich foreigners have enjoyed favorable tax treatment from Switzerland for a long, long time, causing the country to become a veritable magnet for the wealthy. However, growing opposition is forcing changes.
1982
Tax

POTUS Gets Tax Policy Advice from Lindsay Lohan

President Barack Obama is surrounded by advisers, official and unofficial. Everyone has an opinion. But it's doubtful he expected to be getting tax policy advice from "Mean Girl" actress, twenty-three-year-old Lindsay Lohan.
2067
Watchdog

Business Owner Pleads Guilty to Tax Fraud

A Garden Grove, California, business owner who built small electronic airplane parts for C5 cargo planes and F18 fighters has pleaded guilty to tax fraud.
1612
Tax

Justice Dept Seeks to Shut Down Tax Preparers

Two tax return preparers are being sued by the Department of Justice for filing false deductions and credits, including federal fuel tax credits and education tax credits, on customers' federal tax returns.
2134
Tax

Whistleblower Receives $104 Million from IRS for Exposing UBS

In what is considered the largest whistleblower award issued to a single individual, the IRS has given $104 million to the man who exposed a massive tax fraud by Swiss bank UBS.
3293
Practice

Private Company Sales Growth Down Significantly

The rate of annual sales growth among privately held US companies has slowed significantly, to around 5.4 percent currently from nearly 11 percent in January, according to new data from Sageworks Inc.
1776
Tax

Angel Albert Pujols Living in Tax Hell

Chances are, even greatly higher taxes won't tarnish the halo that comes with a ten-year, $254 million contract to play for the Angels. No matter where he plays, with a salary like that, Albert Pujols will pay the highest rate.
3900
Tax

Two Tax Deadbeat Rappers

Two popular Rap artists, Flavor Flav and Bubba Sparxxx, are in big trouble with the IRS. They both owe big bucks for neglecting to pay their taxes.
1576
Tax

Six Indicted in $1.2 Million Conspiracy

A federal grand jury in Montgomery, Alabama, returned a superseding indictment charging six Alabama women with conspiring to file false tax returns using stolen identities.
2404
Tax

Fifteen-Year Prison Sentence for Tax Fraud

Gino Carlucci was sentenced to 188 months in prison for his role in conspiracies to commit money laundering and to defraud the IRS as well as for filing a false income tax return.
3520
Tax

Tax Return Preparer in Kansas Shut Down

A federal court in Kansas City, Kansas, has permanently barred Ahferom Goitom from preparing federal tax returns for others.
2262

Pages

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.
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Gail Perry, CPA
Publisher/Editor-in-Chief, AccountingWEB
editor@accountingweb.com
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