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A gift basket company and its founder were sued by the IRS just days before Christmas back in 2011. The IRS filed the case saying that the company was not entitled to tax refunds it received for the 2005 and 2006 tax years. In July of this year, a U.S. District Court...
A man will soon be transported by the U.S. Marshals Service to the Central District of California to face charges involving tax fraud and identify theft. The IRS Criminal Investigation division conducted the investigation that led to the man's indictment on tax...
For many gamblers in California who aren't United States citizens, winning was a thrill -- until it came time to pay taxes on those winnings. The IRS would get a portion every time, that is, until recently. A recent court case changed the way the IRS collects taxes on...
The Franchise Tax Board (FTB) is contacting more than 90,000 California business entities that have not filed their 2011 state income tax returns. Businesses contacted by the FTB will have 30 days to file a tax return or show why there is no filing...
According to the IRS, Tyco International Ltd. (Tyco) and some of its former subsidiaries owes the United States government somewhere in the area of $883.3 million in back taxes that have accrued $154 million in penalties. Tyco has let the IRS know that it does not...
The California Enterprise Zone credit program will see significant changes beginning January 1, 2014 due to two bills signed by Governor Jerry Brown on July 11, 2013: Assembly Bill 93 and Senate Bill 90. A partial sales and use tax exemption of approximately 4.19% is...
The FATCA registration website is projected to be accessible to financial institutions on August 19, 2013. Other key dates for registration, however, will be extended by six months. After the FATCA registration website opens, a financial institution will be able to...
On July 1, 2013, the California FTB began its Withholding Voluntary Compliance Program for eligible withholding agents who did not remit the required resident, nonresident, and real-estate withholding. Although the unpaid withholding must be paid, with interest, the...
A man who dedicated 40 years of his life to the banking industry may end up doing time in prison as a result of not reporting bank accounts on his U.S. tax returns. The man, who retired in California, has been ordered to pay a fine in the amount of $1.5 million for...
As major nations learn of the tax loss caused by legal tax provisions exercised and optimized by Big Business such as Apple, Dell and Google, the G20 has requested measures to stop companies from shifting profits into tax haven countries.The Group of 20, or G20, is a...
