Archive for April, 2008

Tax Fraud Identity Victims Deserve Better

Wednesday, April 30th, 2008

A Treasury Department watchdog said in a report released April 9 that the IRS must do more to combat tax fraud identity theft, asserting that the IRS rarely pursues or prosecutes fraudulent tax returns filed by identity thieves.
Yesterday I posted about how tax fraud identity theft is on the rise. To make things worse, J. Russell George, the Treasury inspector general for tax administration, said the IRS does not do
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Identity Theft Is Taxing More Americans Than Ever

Tuesday, April 29th, 2008

Tax season may be over, but for many Americans who have experienced fraud related to their tax records, the nightmare of dealing with identity theft is just beginning.
Over the years, identity theft has emerged as one of the top problems facing honest taxpayers, who go to file their federal tax returns only to find out that an identity thief has beaten them to it.
In addition to collecting undeserved tax refunds,
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Wesley Snipes Gets 3 Years in Prison for Not Filing Tax Returns

Friday, April 25th, 2008

The star of over 50 films including the “Blade” vampire trilogy has recently found himself playing a different role—the defendant in the most prominent tax prosecution in decades (since billionaire hotelier Leona Helmsley was convicted of tax fraud in 1989).
Wesley Snipes was sentenced to three years in prison yesterday for willfully failing to file tax returns. While he had argued for leniency, federal prosecutors sought the maximum penalty possible. In
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Sunday, April 20th, 2008

Cindy L. Beyersdorf, 47, of Northglenn, Colo., pleaded guilty to subscribing and filing a false federal income tax return for the year 2001. Beyersdorf, an insurance agent, owned and operated Horizons Insurance. Beyersdorf admitted that she signed and filed a tax return for calendar year 2001 that claimed the gross receipts of Horizons Insurance were $14,888 when they totaled $87,878. She faces up to three years in prison and a
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Who Else Wants To Win A $250 Transferable Gift Certificate?

Saturday, April 19th, 2008

This is one of my favorite sections.  Each month I’ll give you a new trivia question.  The first THREE people who call my office with the correct answer win a free $250 reduction on any IRS service I provide. (One per client, please.)  And best yet, your certificate is transferable.  Use it yourself, or give it to a family member or special friend and help them save money.  Take your
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La. Man Did Not File Returns, Faces Prison

Thursday, April 17th, 2008

A St. Bernard, La., man pleaded guilty to a three-count bill of information for failure to file tax returns for the years 1999 to 2001.
According to court records, Clifford E. Clayton, 63, knew he was required by law to file annual tax returns. Specifically the defendant’s taxable income for 1999 was $717,104 resulting in a tax due of $281,855; for 2000 was $483,860 resulting in tax due of $145,815; and
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Tuesday, April 15th, 2008

Jay Bruce Bernstein, 62, formerly of Paradise Valley, Ariz., pleaded guilty to one count of tax evasion. The charge was connected with $744,048 he received in 1998 from selling his convenience store businesses to The Circle K Corporation.
The government alleged Bernstein provided false documents and statements to an employee of the IRS to conceal the income. At the plea hearing, Bernstein admitted that in April 1994, as the president of
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Drug Dealer’s Girl Guilty of Tax Fraud

Sunday, April 13th, 2008

Here’s a new one: A high-speed pursuit leads the IRS to a tax fraud case and a guilty plea.
According to Asst. U.S. Attys. Anne Pings and Jill Thomas, Olivia K. McCormick, 47, of Sacramento, Calif., was originally arrested in May 2006 after her boyfriend, Michael Slaton, fled from officers of the Sacramento Police Department who had arrived at McCormick’s residence to execute a search warrant.
After leading the police on a
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Thank You! Thank You!

Saturday, April 12th, 2008

Thanks to YOU, the word is spreading.  Thanks to my clients and friends who graciously referred me to their friends, clients and relatives last month!  I enjoy building my business based on the positive comments and referrals from people just like you.
 >>> Tom O’Reiley and Ed Boots, E.A.  <<<
I just couldn’t do it without you!

IRS Question Corner …

Thursday, April 10th, 2008

Question: Help! After a successful business that went under unexpectedly, and some bad tax advice in the past, I’m stuck with a six-figure tax bill — and no way to pay it. What are my options?
Answer:  I know how difficult this time is for you. Having a large tax bill looming over you is among the most difficult things to face. Financial uncertainty can be crushing.
But you have options. And
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Are You My Client Of The Month?

Wednesday, April 9th, 2008

Every month I choose a very special Client Of The Month.  It’s my way of acknowledging good friends and saying “thanks” to those who support me and my business with referrals, word of mouth and repeat business.
April’s Client Of The Month is Conrad S.
Conrad’s debt to the IRS was for $208,609, we he retained our firm. His IRS Offer In Compromise settled for $1725, a savings of $206,884.  Amazing!!!!
Congratulations on
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Tuesday, April 8th, 2008

A San Francisco woman was sentenced to 20 months in prison, to be followed by three years of supervised release, for her involvement in an embezzlement scheme and for filing a false tax return.
Suzie Moy Yuen, 53, of San Francisco, Calif., pleaded guilty to mail fraud and willfully subscribing to a false tax return. According to the plea agreement, Yuen served as an executive assistant to an individual for over
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The 2008 Dirty Dozen: 12 Ways to Get in Tax Trouble

Monday, April 7th, 2008

The tax deadline is looming. But to remind readers how easy is to get in tax trouble, here’s the IRS’s annual “Dirty Dozen” list.
By Michael Rozbruch
It’s become an annual tradition for the IRS. And it isn’t Tax Day.
It’s the “Dirty Dozen.” Every year, auditors and investigators at the IRS compile the most frequently employed scams peddled to American taxpayers as ways to avoid income tax. Fall victim to one, and
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Gov’t: Real Estate Agent Owes $800,000

Friday, April 4th, 2008

A grand jury in Baltimore indicted commercial real estate broker Henry Cole, 55, of Lutherville, Md., for filing three false federal tax returns. The government alleges Cole owes approximately $900,000 in taxes.
According to the three-count indictment, Cole filed individual federal tax returns for tax years 2001 to 2003 in which he falsely claimed $2 million as capital gains to be offset by carry-forward losses when in fact the money was
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Calif. Man Gets 2 Years, $1.16m Bill

Wednesday, April 2nd, 2008

A California chiropractor has been sentenced to two years in federal prison and ordered to pay $1.16 million in restitution for tax evasion.
Ramon Reynoso, 45, of Castro Valley, Calif., pleaded guilty to one count of tax evasion. According to the plea agreement, Mr. Reynoso admitted that from 1991 to 2004, he was self-employed at his chiropractic business in Hayward, Calif. He agreed that his taxable income for services from 2000
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