It was called the “biggest tax fraud prosecution ever.” Former attorney Paul Daugerdas, who prosecutors called “the most prolific, pernicious and utterly unrepentant tax cheat in United States history,” lost the appeal of his prison sentence this week. Here’s how he got there.
New scams are popping up every day. Today, the Internal Revenue Service (IRS) and its Security Summit partners issued an alert to taxpayers and tax professionals to be on guard against fake emails purporting to contain an IRS tax bill related to the Affordable Care Act.
Mistakes were made. That was the takeaway from the House Judiciary Committee hearing yesterday to investigate “the allegations of misconduct and articles of impeachment” filed against Internal Revenue Service (IRS) Commissioner John Koskinen.
The House Judiciary Committee will hold a third hearing today to examine “the allegations of misconduct and articles of impeachment” filed against IRS Commissioner John Koskinen. Koskinen will be the sole witness to testify before the Committee.
Actress Angelina Jolie has filed for divorce from actor Brad Pitt, citing “irreconcilable differences.” From alimony to child support, here’s what you need to know about divorce and taxes.
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.
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.
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.
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.
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.