Irresponsible taxpayer Concealed $2.8 Million in Income and Evaded IRS Detection A Georgia-based precious metals dealer has been sentenced to four years in prison for tax fraud, marking the culmination of a lengthy investigation into his financial misconduct. This case
Irresponsible Taxpayer Admitted to Falsifying Records, Evading Over $550,000 in Taxes An Alaska businesswoman has pleaded guilty to evading taxes on income earned through her business operations. The scheme, which spanned several years, involved falsified financial records and understated income,
Decades-long scheme involved hidden income, false documents, and undisclosed foreign accounts. A former defense contractor and his wife have been indicted for a massive tax evasion scheme involving over $350 million in unreported income. The contractor, whose business supplied jet
Tax Court rules against Coca-Cola after years of litigation over transfer-pricing adjustments. The U.S. Tax Court has ruled that The Coca-Cola Company (TCCC) owes $2.7 billion in tax deficiencies for 2007, 2008, and 2009. This decision follows over eight years
Varian Medical Systems wins a deduction for dividends but loses on foreign tax credits. In a pivotal decision, the U.S. Tax Court delivered a mixed ruling for Varian Medical Systems, granting the company a partial win in a dispute over
Understanding the Limits of Advertising Deductions for Unconventional Activities The Tenth Circuit Court of Appeals recently ruled against a personal injury lawyer, referred to here as the “Irresponsible Taxpayer,” who claimed substantial car-racing expenses as business deductions. This case highlights
Judge Rules Lawyer Willfully Evaded Tax Obligations Over 14 Years A Kentucky lawyer and business owner attempted to use bankruptcy to erase 14 years of unpaid income taxes. The court ruled against this strategy, citing willful tax evasion as the
Trump’s Policies Aim to Boost U.S. Manufacturing, Slash Taxes, and Reshape Trade Tariffs and Tax Cuts: Trump’s Vision for Economic Growth Donald Trump’s economic agenda places heavy emphasis on tariffs and tax cuts as key strategies to revitalize the U.S.
How the End of Chevron Deference Reshapes Federal and State Tax Laws The United States Supreme Court made history on June 28, 2024, by overturning the landmark Chevron USA Inc. v. Natural Resources Defense Council, Inc. decision. In its ruling
Federal Court Ruling Temporarily Halts Mandatory Beneficial Ownership Reporting A recent court ruling has brought temporary relief to reporting companies regarding the filing of beneficial ownership information under the Corporate Transparency Act (CTA). While the mandatory filing requirement is currently