Tax fraud was in the news a lot this tax season. Many taxpayers kept asking why the bad guys were able to steal so much money so quickly. Part of the answer may be complicated, involving sophisticated hacking schemes. But part of the answer isn’t so complicated: our tax system practically invites fraud because of…
“I’m a regular human being that’s been struggling all their life and made a mistake. Everybody deserves a second chance.” That’s what Rashia Wilson of Tampa, Florida, the self-styled Queen of Tax Fraud, told a federal courtroom during a resentencing hearing on tax fraud and identity theft charges. It’s a far cry from the boastful…
Happy Tax Day! You’ve probably read a ton of lists by now advising you about last minute filing tips and how to reduce your tax bill. That’s all good stuff. But as you finish up the last minute scramble to get your taxes filed, here’s a quick list of what not to do: 1. Fib…
Tax Day is just around the corner. Nobody likes writing a big check to Uncle Sam but there is some good news: Tax Day also means free stuff, promotions, deals and specials. After you pop your return (or your extension) in the mail – hopefully with payment – kick back and take advantage of some…
It’s easy to imagine identity thieves as unsavory sorts hiding in the dark recesses of the underworld. We don’t usually think of them as married professionals living in Manhattan’s Upper East Side. That is, however, exactly what Jeffrey S. Stein and his wife, Marla Stein, are alleged to have done in an effort to cheat…
Calling him “the most prolific, pernicious and utterly unrepentant tax cheat in United States history,” prosecutors called for a lengthy sentence for former Jenkens & Gilchrist Chicago head Paul Daugerdas – and they got it. Last June, Daugerdas was sentenced to 15 years in prison for his role in a multi-billion tax fraud scheme. It…
Ready to file your federal tax return? If you’re ready to file and make payment, check out these prompt payment options. But what if you can’t pay what you owe? File anyway. Penalties apply for failure to file and failure to pay. To reduce the hit to your wallet from penalties, be sure to file…
Ready to file your federal income tax return? If you owe – and chances are that you do if you’re waiting this late to file since statistically taxpayers who are due a refund file as early as possible – don’t forget to make payment along with your return. If you pay your taxes in full…
Tax issues cause some folks to act in an irrational manner. True, the taxman shouldn’t be ignored. But feared? Nah. Here’s my list of the top five things that taxpayers are irrationally afraid of and shouldn’t be: Being aggressive when it comes to deductions. You’re entitled to take deductions. C’mon, say it with me now:…
“They can’t collect legal taxes from illegal money.” Those infamous words would eventually come back to haunt Alphonse Gabriel Capone, better known as Al Capone, Public Enemy Number One. Born in Brooklyn, New York in 1899, Al Capone quickly became acquainted with street gangs. He dropped out of school in the sixth grade at age…