Congressman Chaka Fattah & Associates Indicted In Racketeering Conspiracy

Just weeks after former Rep. Michael Grimm (R-NY) was sentenced to prison on tax related charges, Rep. Chaka Fattah (D-PA) and a number of his associates found themselves targeted by the feds. On Wednesday, a 29 count indictment was handed down to Fattah, as well as lobbyist Herbert Vederman, 69, of Palm Beach, Florida; Fattah’s … Read more

Former U.S. Representative Grimm Sentenced To Prison For Tax Fraud

Former U.S. Representative Michael Grimm (R-NY) got something of a break earlier today when he was sentenced to just eight months in prison on tax related charges. He had faced up to three years in prison after pleading guilty to one felony count of tax fraud. At the time of Grimm’s plea, U.S. Attorney Loretta … Read more

IRS, TIGTA Talk Tech, Identity Theft & Security At Congressional Hearing

Internal Revenue Service (IRS) Commissioner John Koskinen was back on the Hill this week, together with J. Russell George, The Treasury Inspector General for Tax Administration (TIGTA), to testify before members of Congress. This time, both were asked about the unauthorized access to the “Get Transcript” application on the IRS web site. The hearing was … Read more

IRS Changes Position On Identity Theft, Will Provide Copies Of Returns To Victims

You have a right to know what thieves are doing with your information. That’s the surprising word out of the Internal Revenue Service (IRS) this week. In a clear change in policy, IRS has agreed to provide victims of identity theft with copies of the fraudulent tax returns filed using their personal and financial information. … Read more

4/20: The Blunt Truth About Marijuana & Taxes

There was a time when the term 4/20 drew either blank stares or giggles. The term, which refers to marijuana, has become more mainstream in recent years and April 20, once considered a counterculture holiday, is actually trending on Twitter. The reality is that marijuana doesn’t have the same taboo as it did before. That’s … Read more

Lois Lerner Escapes Criminal Contempt Charges After DOJ Finds She Did Not Waive Rights

Contempt. That was the verdict last year, when, upon recommendation of the House Oversight and Government Reform Committee, the full House of Representatives voted 231-187 to hold Lois G. Lerner in contempt of Congress for refusal to comply with a subpoena duly issued by the Committee on Oversight and Government Reform. The vote followed an … Read more

Bush: No New Tax Pledge

Former Florida Governor Jeb Bush may have signaled his interest in running for President in 2016 but he’s clearly not following exactly in his father’s footsteps. Bush has refused to sign a pledge promising not to raise taxes, despite earlier reports that indicated he might. Spokeswoman Kristy Campbell made Bush’s position clear this week, saying … Read more

Mayor Of London Boris Johnson Announces He’ll Renounce U.S. Citizenship

Boris Johnson, the Mayor of London, is finally saying “Cheerio” to his friends across the pond. The American-born Brit (he’s a New Yorker by birth) has announced that he will give up his American citizenship as part of his “commitment to Britain.” The announcement came on the heels of a six-day trade show in the … Read more

Obama Budget Proposal Tackles Small Business, Changes To IRS

The White House formally released The President’s Budget for Fiscal Year 2016 yesterday. Calling it long is an understatement. My summary is in two parts. Today: small business, funding and IRS (yesterday’s version tackled: individuals, estates and international). Here are some of the highlights: Small Business The proposal wasn’t all about big business. There’s plenty … Read more