Did Volkswagen’s Deception Cost US Taxpayers Millions?

The fallout from the diesel emissions cheating scandal at Volkswagen continued today with Martin Winterkorn tendering his resignation as Chief Executive Officer (CEO) even as he took¬†responsibility for what he called “irregularities.” Winkerkorn’s resignation came just days after Volkswagen admitted that it had manipulated software in some diesel cars in order to produce favorable – … Read more

Coca-Cola Says IRS Wants $3.3 Billion In Additional Tax Following Audit

The Coca-Cola Company announced today that it may owe $3.3 billion in additional federal income taxes. In a form 8-K filed with the U.S. Securities and Exchange Commission, the company revealed that following a five year audit for the tax years 2007 – 2009, the Internal Revenue Service (IRS) issued a Notice of Deficiency claiming … Read more

German Bank Will Pay $1.45 Billion To Settle Sanctions, Money Laundering Charges

The international dollars keep rolling in. Yet another bank has agreed to pay a fine in response to ongoing investigations into foreign accounts. Commerzbank AG, headquartered in Frankfurt, and its U.S. branch, Commerzbank AG New York Branch (called Commerz New York), have agreed to a deferred prosecution agreement which calls for, among other things, the … Read more

Walmart Says ‘Skip The Check’ & Pick Up Tax Refunds In Cash

It’s official: the 2015 tax season officially opened today. To coincide with the open, Walmart has announced the launch of Direct2Cash, a service that allows consumers to “skip the check” and pick up their tax refunds in cash. This isn’t a RAL (refund anticipation loan). It’s not a loan at all. It’s more of a … Read more

Whistleblower Alleges Vanguard Cheated On Taxes, Costing Taxpayers More Than $1 Billion

On May 1, 1975, Princeton graduate John C. Bogle launched an investment company on a bold new idea: it would be owned by its member funds and operated for the benefit of its shareholders. That company, the Vanguard Group, is now one of the world’s largest investment companies with about $3 trillion under management. Whistleblower … Read more

Internet Tax Ban Ending Soon: Speaker Boehner Hopes To Keep Internet Tax Free

With Black Friday on its way, will the internet stay tax free? Speaker Boehner has signaled that he will not support the Main Street Fairness Act. However, with the moratorium on taxing internet access under the Internet Tax Freedom Act about to expire, is there room for compromise?

Apple Seeds Perk Wars, Adds Egg Freezing As Employee Benefit

Apple and Facebook have fired the latest round in the “perk wars” – efforts to woo and keep talent in the tech sector. Not content with fancy meals, tech companies are offering female employees the opportunity to freeze their eggs. As perks keep expanding, what are the tax consequences to those employees?