Many people in California have been following the court battles spawned by Michael Jackson's death. There could be yet another battle brewing for the late singer's family -- this one in the United States Tax Court. The IRS has made a seemingly arbitrary decision about...
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IRS
From Al Capone to Barry Bonds, the IRS has played a critical role initiating investigations that ultimately led to criminal prosecution.
Despite accusations that the notorious Capone was guilty of directing or committing many crimes through his organized syndication, tax evasion was ultimately the offense the federal government pursued which resulted in Capone's sentence to federal prison in...
Mandatory Tip? New Tax Treatment
In 2012, the IRS issued Revenue Ruling 2012-18 directing that automatic gratuities-tips added by the restaurant to the bill of large parties-- be classified as service charges, which are treated as regular wages subject to payroll tax withholding, rather than tips to...
US Citizen Pleads Guilty to Tax Conspiracy
The Department of Justice and Internal Revenue Service-Criminal Investigation announce a guilty plea by Aaron Cohen of Encino, California. Mr. Cohen pleaded guilty in the U.S. District Court for the Central District of California to conspiracy to defraud the United...
United States and Switzerland Issue Joint Statement Regarding Tax Evasion Investigations
The Department of Justice has announced a program encouraging Swiss banks to cooperate in ongoing U.S. investigations of the use of foreign bank accounts to commit tax evasion. The program is available only to banks not currently under criminal investigation by the...
IRS to Raise User Fees for Installment Agreements and Offers in Compromise
The IRS has issued proposed regulations to raise the user fees for installment agreements and offers in compromise on January 1, 2014. For more information, click here.
IRS Announces Guidance on Federal Tax Treatment for Same-Sex Couples
On August 29, 2013, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for all federal tax purposes. The ruling applies...
FATCA News and Information
The Internal Revenue Service has opened a new online registration system for financial institutions that need to register with the IRS under the Foreign Account Tax Compliance Act (FATCA).Financial institutions that must register with the IRS to meet their FATCA...
Reminder: For Most Truckers, Highway Use Tax Return Due Sept. 3
For Truckers and other owners of heavy highway vehicles, the next federal highway use tax return is due on Tuesday, September 3, 2013. This due date generally applies to Form 2290 and the accompanying tax payment for the tax year that begins on July 1, 2013, and ends...
IRS Targets Small Businesses for Tax Payments
The IRS is contacting small businesses based on a determination that close to $450 billion of taxes goes uncollected and approximately $140,000 billion of that amount is owed by small businesses. By identifying small businesses with high credit card sales, the IRS is...
