A North Carolina man has been indicted by a federal grand jury on charges of tax fraud. Billy D. Floyd, of Monroe, North Carolina, is accused of interfering with the due administration of the internal revenue laws and filing false income tax returns.
Read MoreMonth: September 2016
Tax Related Penalties For 2017 Are On The Way Up
The Internal Revenue Code imposes a number of penalties for failure to file returns, failure to furnish information returns, and failure to pay tax which affect individuals, companies, trusts, and estates. Many of those penalties are now tied to annual inflation adjustments, which means that they vary from year to year. In addition, a number of penalties, including those aimed at tax preparers have dramatically increased. Here’s what you need to know.
Read MorePredictions For 2017 Tax Rates, Brackets & Deduction Amounts Look Like (Mostly) Good News
Today, Bloomberg BNA released their predictions for 2017. The good news? Many individuals and businesses can look forward to potentially lower tax liability because of higher deductions and credits.
Read MoreHouse Skips Impeachment Vote For IRS Commissioner, Schedules Hearing Instead
It was widely expected that members of the House Freedom Caucus would force a vote this morning to impeach Koskinen over allegations tied to his handling of the investigation into the IRS tax exempt organization scandal. As it turns out, there won’t be a vote today after all.
Read MoreFighting Tax Related ID Fraud With Your Cell Phone, One Selfie At A Time
The IRS and state tax authorities have been exploring ways to combat tax fraud while still ensuring that honest taxpayers receive their refunds in a timely manner. The Alabama Department of Revenue is hoping that new technology will help them stay ahead of scammers and thieves. All it takes is a cell phone.
Read MoreLawsuit Filed Against Philadelphia In Effort To Stop Soda Tax
The American Beverage Association, together with a number of other businesses, including beverage distributors and retailers, have filed a lawsuit to stop Philadelphia from collecting the tax, claiming that it’s illegal under state law.
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A Look Back At Oprah’s Ultimate Car Giveaway
On this day in 2004, amid the shrieks, 276 members of talk show host Oprah Winfrey’s studio audience each found themselves with a new Pontiac G-6 sedan.
Read MoreFederal Tax Receipts Hit Record High $2.9 Trillion – And Counting
Federal tax receipts for the first 11 months of fiscal year 2016 totaled $2.909 trillion, according to the Congressional Budget Office (CBO). The CBO estimates that the government took in $26 billion – or about 1% – more than they did during the same period last year, marking a record high.
Read MoreWhoa, Nelly: Rapper Slapped With Massive IRS Tax Lien
It’s not just a (bad) dream. According to TMZ, rap star Nelly, has been slapped with a $2,412,283 federal tax lien for the year 2013.
Read MoreWhat You Can Learn About Sexual Harassment & Legal Settlements From Gretchen Carlson
Earlier this year, former Fox News anchor Gretchen Carlson filed a lawsuit against Roger Ailes, then Chairman and CEO of Fox News, alleging sexual harassment. This week, the anchor announced that she had reached a settlement with 21st Century Fox. Here’s what you need to know about sexual harassment and settlements.
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