A San Antonio, Texas, woman was sentenced to 41 months in federal prison and ordered to pay $1.5 million in restitution to the IRS for her role in a fraudulent tax scheme.
In addition to the prison term, United States District Judge Fred Biery ordered that Terrell Diamond be placed under supervised release for a period of three years after completing her prison term.
According to court records, Diamond, along with her
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I recently appeared as the tax expert on Financial Lifeline Radio with hosts Dave Harbison and John March.We talked about all the tax buzz this year. It’s almost become a cultural movement in this bad economy with everyone struggling with tax debt -  we’re seeing all the tax tea parties and stimulus packages making headlines.
Not to mention, it seems like you must have tax problems to be nominated by the
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Victims of dishonest tax return preparers can end up in a world of tax trouble – it’s no wonder return preparer fraud made this year’s IRS Dirty Dozen list of common scams taxpayers should avoid.  The promise of large refunds may be all too tempting in this challenging economy – but taxpayers should still choose their tax preparer wisely.
With IRS enforcement on the rise, struggling taxpayers do not want to
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A recent Los Angeles Times article examined the resentment that’s brewing among Americans who feel that there is a double standard applied to delinquent taxpayers, which appears to favor powerful people like recent Cabinet nominees.
The most highly criticized nominee has been Treasury Secretary Tim Geithner, who owed $34,000 in back taxes and didn’t pay all of it until Obama nominated him.
His excuse? Geithner told the committee that he prepared his
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Did you pay your taxes this year? You can run, but you can’t hide from the IRS! However, there is hope for struggling taxpayers to resolve back taxes and avoid IRS penalties!
For the millions of Americans who failed to file legally required tax returns, there’s still hope for receiving income tax relief! Even taxpayers who received an extension for filing are not granted more time for the payment of taxes
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Mark J. Zokle, 43, of Sandusky, Ohio, was charged with failing to file federal income tax returns on $2.4 million in income. The information alleges that in 2001, 2002 and 2003, Zokle worked as an independent sales representative for TEMO Sunrooms, of Clinton Township, Mich., and earned commission income of $862,463.89, $756,980.77, and $794,067.64, respectively, in those years but failed to file tax returns.
I’ve blogged about failing to file income
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Thomas E. Cowan Jr., 64, of Elizabethton, Tennessee, has been indicted by a federal grand jury on one count of income tax evasion and three counts of failure to file income tax returns.
According to the indictment, Cowan, an attorney, attempted to evade a large part of the income and self-employment taxes, penalties and interest due to the United States for tax years 1993 to 1997. The indictment alleges that Cowan
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I’ve blogged about the numerous Obama administration nominees to have tax troubles – and now the White House has release Obama’s tax returns. Here’s a great blog post about what we can learn from Obama’s tax returns.
According to the Washington Post, Barack Obama earned about $2.6 million from the sale of his books, “The Audacity of Hope” and “Dreams From My Father” – which represent the vast majority of the
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I recently blogged about how frivolous arguments topped the IRS Dirty Dozen list of most common tax schemes. And in this bad economy, there will be more individuals maintaining frivolous arguments for not paying their taxes.
While many Americans were paying their taxes on April 15, there’s a group of citizens known as tax defiers, deniers or protesters who cite many different reasons refusing to pay their income taxes.
Their frivolous arguments
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It’s the morning after April 15… Did you file your taxes?
Every year, millions of taxpayers fail to file legally required tax returns by the April 15 deadline, which can lead to more significant financial problems in the long run including huge penalties and jail time. But it’s not too late for delinquent taxpayers to resolve tax debt and avoid IRS penalties.
The longer you put off dealing with overdue taxes, the
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It’s tax day! I know people don’t file their tax returns for different reasons and in this economy, and many Americans may opt to not file because they don’t have the funds to pay the taxes owed.
If you can’t afford to pay your taxes, there are payment options for tax relief!
Additionally, what taxpayers may not know is that failure to file tax returns may be construed as a criminal act
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Internal documents reveal IRS has made offshore tax evasion its highest-priority target; investigators will focus on unreported income
By Michael Rozbruch
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The memo sent to examination staff of the Internal Revenue Service was clear.
Investigators should make sure offshore tax cases “receive priority treatment.”
Indeed, internal documents released by the tax-collecting agency, coupled with public comments from IRS Commissioner Doug Shulman, leave little doubt the government will focus the brunt of its enforcement efforts
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According to the IRS annual Dirty Dozen list of most common tax schemes, phishing “expeditions”  are on the rise this year along with frivolous tax arguments.  I even got a phishy email the other day.  These scam email look real too.. on IRS simulated letterhead complete with the logo and all.
It’s no surprise that these tax scams are being peddled to Americans in full force -  as IRS enforcement is
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As I’ve mentioned before, average citizens are just as likely to get in tax trouble for tax evasion and filing false tax returns as high profile celebrities. And the individuals who assist tax cheats should also beware!
CCH (http://tax.cchgroup.com/) reports:
A federal district court determined the base offense level and appropriate sentencing enhancement of an individual convicted of aiding and assisting in the filing of materially false tax returns. The court based
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Failure to file your legally required tax returns can cause you to incur significant penalties and may be construed as a criminal (misdemeanor and potentially a felony!) act by the IRS. However, there are circumstances where an individual may have “reasonable cause” for not filing or paying taxes due (divorce, job loss, death in the family, illness, etc).
The law allows for the abatement of penalties for reasonable cause, which is
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