Snipes continues to getting knocked down by the IRS. Rather than give up, he too keeps getting back in the ring. In his latest skirmish with the service, the Tax Court held that the IRS did not abuse its discretion by refusing to accept his offer...
7 Recent Tax Cases You’ll Enjoy Reading About Warwick, R.I. Preparer Raymond Petrarca has pleaded guilty to 44 counts of filing fraudulent returns for clients. According to the court, Petrarca owned and operated the tax prep business Stratus Financial Group. He admitted to falsifying 44 returns prepared for...
For the vast majority of taxpayers, there is not much need to worry that you will be audited. In 2016, only 0.6% of individual income tax returns were audited according to the IRS 2017 Data Book. Why? For starters, after the IRS budget cuts, we lost...
Shakira Pays $25 Million in Back Taxes Shakira has reportedly paid a major bill for back taxes owed to the Spanish government. According to numerous reports, this international superstar has paid more than 20 million Euros - or $25 million - to the Spanish authorities to settle part...
If your business is more than a dispensary, you should consider splitting it into two businesses that are adjacent to each. Of course, it is advisable for any business owner, no matter the industry, to work with professionals when it comes to this matter.There are three...
No one wants to pay more income taxes than they are required to, but be careful if you prepare your own taxes. Attempting to cut your tax liability by getting into IRS grey areas can cause you problems later on. You don't have to do...
Congress Taking Initiative Towards Delayed Medical Cannabis Research In current times, we’ve seen a growth in cannabis users and cannabis growers. Furthermore, with the plethora of product and abundance of the culture surrounding it, our future educators need to better understand the anatomy of the...
Miami-Dade Police Officer Arrested for Stealing Thousands in Federal Funds While in College Ebony Nesbitt’s tax fraud past may have caught up with her. Fraudulent tax refunds are practically unforgivable with the IRS. If she is convicted, the choices she made in college will severely impact...
IRS Warns Taxpayers to be Alert for Scams Related to Natural Disasters Let's talk tax scams. According to the IRS, some scammers impersonate charities or operate bogus charities to get money or private information from well-intentioned taxpayers. For example, some have bogus websites which use names...
Crypto Tax: IRS Catching Investors Who Don't Pay Taxes Those who invest in Cryptocurrency may not be aware that there is a tax on Crypto, just like everything else in the world. Cryptocurrency investors have mostly flown under the radar as far as taxes are concerned....