Walter Allen Johnson, a former Tennessee Department of Correction inmate, was sentenced to 92 months in prison for his role in a conspiracy to submit false tax returns on behalf of prison inmates. Johnson admitted that, while incarcerated from 2006 to 2007, he conspired with others to submit false tax returns that claimed refunds on behalf of other inmates. Johnson and his co-conspirators collected 87 checks totaling approximately $57,880.
Archive for December, 2011
It has been an interesting week in tax news this final week of 2011. The last week of the year is always a big one in the tax relief industry since we have just days to take action to lower our 2011 tax bill. Here are some of the top headlines that caught my attention this week:
IRS sues Yankees’ Hal Steinbrenner over tax refund
New York Yankees
With numerous offshore account dramas unfolding recently, the IRS has been taking a closer look at offshore foreign accounts of US taxpayers. Taxpayers who have such financial interests in and/or signature authority over foreign accounts are already required to file a Report of Foreign Bank and Financial Accounts (FBAR) form if the combined value of their financial accounts exceeds $10,000 during the calendar year. Recently IRS sent out a reminder
At Tax Resolution Services, we help individuals and small businesses find a solution for their IRS tax problems. For a small business owner, this means not only spelling out the resolution process, but also the assessment and prevention of future tax issues down the road. It cannot be said enough that sound legal and financial advice helps to streamline operations and is key to small business success both in good
For those who owe the IRS back taxes, you will want to take note before the new tax year. There is a new tool in the IRS tax collection arsenal poised to better recover unpaid taxes, detect tax fraud schemes, and reduce the number of fraudulent refunds the agency pays out than ever before. An Information Week article “IRS Uses Analytics to Help Collect Delinquent Taxes”, announced news of the
A Blackwood, N.J., man was sentenced to 33 months in prison for defrauding the United States by filing tax returns with the IRS with false, fictitious and fraudulent information. Jose Adames, 32, was convicted following an eight-day trial. His wife, Angelita Adames, 34, who previously pleaded guilty to the same indictment, is scheduled to be sentenced.
Jose and Angelita Adames negotiated 102 tax refund checks totaling $668,298.73 at a Camden check
2011 is quickly coming to a close. With a few days left in the year, the IRS has released some last minute tax tips that can help you gain a little tax relief and reduce your taxes! It is recommended that you take action on these tips no later than December 31st to claim most tax benefits so please keep that in mind as you read through these tips provided
After pleading guilty to failure to pay employment taxes, Gene R. Wendt, 56, Rhinelander, Wis., was sentenced to nine months in prison and fined $10,000.
From 2004 to 2008, Wendt owned and operated Crown Point Classics, a business in Hazelhurst, Wis., that restored antique cars and boats.
As the owner of the business, Wendt was responsible for collecting, accounting for, and paying over employment taxes withheld from the wages of CPC employees.
This Tuesday, a deadline passed in which 11 Swiss banks were given an IRS ultimatum to hand over account information and pay billions in fines to avoid US tax evasion prosecution. However, what the banks have not divulged are the claims that they would also have to provide all correspondence of their offshore clients over the last 11 years. An online article from “US tax “ultimatum” has Swiss banks sweating”
In a story straight out of a Hollywood movie, the estate of the late heiress, Huguette Clark has been shrouded in controversy since her death this May at age 104. Not only has her estate been slapped with $50 million in IRS penalties, her trusted financial advisors are facing allegations of tax fraud by the office of the public administrator of New York County. Born in 1906, the youngest child
Following a three-day trial, Douglas M. Cavanaugh, Jr., 45, formerly of Binghamton, N.Y., was convicted of six counts of filing false claims for tax refunds from the Internal Revenue Service.
Cavanaugh was arrested at Los Angeles International Airport shortly after he arrived on a flight from Australia, where he resided. Evidence presented during the trial showed that Cavanaugh knowingly made and presented to the IRS six claims for payments of refunds
Question: I’ve been struggling with IRS debt for a couple of years now. How do I know whether the Offer in Compromise or Installment Agreement is the right program for me?
Answer: Ultimately you’ll need to consult in person with a qualified tax professional to find out exactly whether the Offer in Compromise or Installment Agreement is right for you, but it might help if you understand each program and
Many Americans like preparing their taxes every year; it helps them feel in control of their finances and they don’t want to pay someone else to do it. With a tough economy still lurking and the availability of low-cost often free tax preparation software, many are inclined to cut their basic costs, and doing their own taxes is one place they believe they can save. If a taxpayer has a
Washington Redskins wide receiver Santana Moss has had an up and down week. On Sunday, Moss caught two passes for 40 yards with a touchdown in the Washington Redskins’ 23-10 win over the New York Giants. On a down note, the Detroit News reported that the elite receiver owes the IRS $258,017 in back taxes. According the source, the IRS filed a tax lean in November against Moss’s $5.2
Richard Werdiger, a former client of Swiss bank UBS, was sentenced to one year and one day in prison for conspiring to defraud the Internal Revenue Service. He had hid more than $7.1 million at UBS and evaded nearly $400,000 of taxes.
Werdiger pleaded guilty in March 2011 and agreed to pay a civil penalty of more than $3.8 million for his failure to report his overseas accounts to the IRS.