To combat identity theft-related tax fraud, Rep. Jim Renacci (R-OH) introduced H.R. 3832, or the Stolen Identity Refund Fraud Prevention Act of 2016. The bill, which was co-sponsored by Rep. John Lewis (D-GA), Ranking Member on the Ways and Means Subcommittee on Oversight, passed the House on May 15, 2016.
Read MoreMonth: May 2016
Millions Of Taxpayers Will Have A Longer Wait For Tax Refunds Next Year
It’s no secret that tax refund fraud is big business for scammers. Congress thinks it has a plan to stay ahead of the scammers. There’s just one problem: in the attempt to slow tax refund fraud, millions of families may have a longer wait next tax season to get their refund.
Read MoreMan Convicted In Romney Tax Return Fraud & Extortion Scheme
This week, Michael Mancil Brown was convicted of six counts of wire fraud and six counts of using facilities of interstate commerce to commit extortion. Brown claimed that he had been able to access PricewaterhouseCoopers’ internal computer network in order to steal tax documents belonging to then presidential hopeful Romney.
Read MoreAmericans Who Make More Than $100,000 Pay 80% Of Federal Income Taxes
According to recent Internal Revenue Service (IRS) data, Americans earning over $100,000 paid 79.5% of federal income taxes in 2014. Here’s what else you need to know.
Read MoreFormer CPA Says He Stole From Trust, Filed False Tax Returns To Protect His Wife
Thomas Ziff pleaded guilty to one count of filing a false tax return. As a CPA, he knew better, but claimed he was overwhelmed by personal circumstances and begged for leniency. Today, he learned his sentence.
Read MoreJudge Finds 'Clear & Convincing Evidence' Of Tax Fraud By Former Texas Billionaire Sam Wyly
A federal bankruptcy judge has found “clear and convincing evidence” that businessman and former Texas billionaire Sam Wyly and his now-deceased brother, Charles Wyly, committed tax fraud. The result could be a bill from Internal Revenue Service (IRS) totaling close to $1 billion.
Read MoreHarry Potter Actress Emma Watson Named In Panama Papers
As the fallout from the release of data related to the Panama Papers continues, more recognizable names are circulating, including Emma Watson, the popular activist and actress who played Hermione Granger in the Harry Potter movies.
Read MorePanama Papers Data Slated To Be Released Today
The International Consortium of Investigative Journalists (ICIJ) will make public a searchable database from the infamous Panama Papers later today. Here’s what you need to know before you click.
Read MoreOh Baby! The Most Popular Baby Names In America
Having a baby? The Social Security Administration has released the list of the most popular baby names for babies born in the United States in 2015.
Read MoreFears Over Taxpayer Confusion Mount After It's Revealed IRS Might Be Calling You After All
For months, the IRS has been warning taxpayers about telephone scams. With tax professionals reporting that IRS actually is calling taxpayers, here’s what you need to know to protect yourself.
Read More