In yet another twist to the Wesley Snipes tax trial, Mr. Snipes has turned himself in to authorities in the US. Snipes took a break from filming “Gallow Walker” in Namibia to answer federal charges, including tax fraud. A judge granted Snipes $1 million bond after he pleaded not guilty to the charges. Snipes will be allowed…
During my first year of law school, one of my professors told us that the B students become judges. Maybe he was right. You see, it’s been reported that a Pennsylvania Superior Court Judge has taken a stand on statutory pay for judges – but her tax analysis seems to be a little off. Out of our…
Money, of course. And what drives money? Apparently, these days, it seems to be about tax policy. A catch 22? Toyota seems to think so. This summer, Toyota hit their production limit of 60,000 for tax credits for buyers. And it hurt. The $3600 tax credit is only guaranteed to a certain number of buyers…
Or free computer software. Just ask the 30,000 recipients of Microsoft’s latest promotion… Microsoft launched a site, PowerTogether.com, to offer free copies of Windows Vista or Microsoft Office 2007 in exchange for watching three webinars on the new products (don’t bother signing up, even though the promotion was set to expire on February 28, there…
It’s Fix the Tax Code Friday! I was chatting with a client today who mentioned that her tax picture should be better this year because she had a baby. Poof! An extra exemption. Should we allow parents to receive an exemption simply for having children? And if the child doesn’t live with the parent, should…
Taxpayer asks: I read your advice about deductions for business expenses but I don’t use a home office or some of the other things you mentioned. I do, however, use a car for much of my work. Can I deduct that? Taxgirl says: If you use your car exclusively in your business, you can deduct car expenses. You…
You might be entitled to a little holiday bling, courtesy of the IRS. It seems that the IRS has checks for 95,746 taxpayers for a total of $92.2 million, refund checks which have been returned as undeliverable. Those checks can be claimed as soon as the taxpayer updates an address with IRS or otherwise makes…
Putting a period (or perhaps an ellipsis) at the end of a three-year investigation, T. Milton Street, Sr. the brother of Mayor John F. Street of my own City of Philadelphia, was indicted Tuesday on tax and fraud charges involving $2 million worth of city contracts. The indictment alleges that beginning in 2000, the same…
What’s worse than potentially cheating the US government out of millions of dollars? Whining about it. Yes, you guessed it. There’s more news on Wesley Snipes to report. Wesley Snipes was previously indicted for allegedly claiming more than $12 million in fraudulent refunds and not filing any tax returns for several years. A warrant for…
The IRS has (finally) announced a formula for determining the refund for businesses and tax-exempt organizations to estimate their federal telephone excise tax refunds. As noted before, the prospect of searching through years and years of telephone records was not particularly appealing for business owners in exchange for a small refund. To request a refund,…