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Two IRS employees indicted for theft of government money

03/19/2010 - 18:03 - 353 reads

Two IRS employees in Covingont, KY were charged in a 29-count indictment for stealing thousands of dollars in money orders.

Update: Bad guys plead guilty in two separate cases

03/16/2010 - 10:05 - 520 reads - 1 comment

Sherry Lynn Vertoch was arrested for posing as an agent of the Internal Revenue Service in order to gain free housing at a California hotel. If convicted, Vertoch could spend up to three years in prison.

Lehman Bros. used aggressive accounting to hide borrowing

03/15/2010 - 16:41 - 742 reads

Anton R. Valukas, the U.S. bankruptcy court-appointed examiner of failed investment bank Lehman Bros., has found that the company used “materially misleading” accounting to make its balance sheet look stronger than it really was.

Citibank apologizes after exposing 600,000 Social Security numbers

03/11/2010 - 11:08 - 4600 reads - 1 comment

More than half a million Citibank customers received mail from the credit card company with their Social Security number printed on the outside of the envelope.

Charles Rangel steps aside as House Ways and Means chairman

03/10/2010 - 17:27 - 950 reads

Bowing to pressure from Republicans and Democrats in the U.S. House of Representatives, Charles Rangel, chairman of the tax-writing House Ways and Means Committee, agreed to step down “temporarily.”

Massachusetts tax attorney suspended for failing to meet tax filing obligations

03/10/2010 - 12:16 - 987 reads

Massachusetts Tax Attorney Kevin Kilduff has been barred from practicing before the Internal Revenue Service for 48 months for failing to file a federal tax return, and for filing another five returns late.

Florida mayor owes IRS more than $200,000 in back taxes

03/01/2010 - 16:45 - 1665 reads - 1 comment

Florida’s North Bay Village mayor allegedly hasn’t made a mortgage payment in nearly two years, lives in a house on which he had built an illegal second story, and owes the Internal Revenue Service more than $200,000 in back taxes.

Battle with IRS and bank leads man to raze his own house

03/01/2010 - 16:03 - 2237 reads - 1 comment

A few weeks ago Terry Hoskins had a 3,088-square-foot brick house that he and his wife had occupied since 1991. It was valued at more than $350,000 and he owed the bank about $160,000. Now the house is a pile of rubble.

Inmates turn incarceration into profit

03/01/2010 - 12:43 - 2204 reads - 1 comment

At least 50 detainees at the Stock Island Detention Center near Key West, Florida, figured out how to scam the Internal Revenue Service out of $100,000 in bogus tax refunds.

Potpourri of celebrities and their dealings with the tax man

03/01/2010 - 11:00 - 1292 reads

Rapper Snoop Dogg, nee Calvin Broadus, is in trouble with the Internal Revenue Service again. On January 19, the IRS filed a lien with the Los Angeles County Recorder of Deeds against Snoop Dogg and his wife, Shante.

Hair stylist to the stars gains fame he never wanted

02/18/2010 - 13:45 - 2226 reads

He's not a national celebrity himself, but celebrities like Maya Angelou, Mary Tyler Moore, and Britain's former princess Sarah Fergusson depend on him for their beauty. Now, Teddie Kossof is getting some media attention he'd like to avoid.

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Editor's Note

Find out what people are doing wrong when it comes to taxes, accounting and related issues. There’s really good fraud and forensics information, too!

Take a look at Celebrity News, Bad Guys News, educational tidbits from the AICPA and more. If you find a story or information that fits here, let us know!

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