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
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
Charities Seek Congress’ Support for Tax Deduction Incentives to Revive Giving A coalition of nonprofits and businesses is urging Congress to address the alarming decline in charitable giving. The Charitable Giving Coalition (CGC) has called for the permanent restoration of
Partnerships Get Extra Time to Furnish Payee Statements for 2024 Exchanges The IRS has issued further penalty relief for partnerships that fail to furnish Form 8308, Report of a Sale or Exchange of Certain Partnership Interests, on time. This extension
Florida Preparer Ordered to Pay $429,888 in Restitution for Fraudulent Tax Filings A tax preparer from Naples, Florida, referred to as the “Irresponsible Preparer,” has been sentenced to one year and one day in federal prison for aiding in the
A Connecticut Business Owner Faces Prison for Concealing Income and Misusing Pandemic Relief A Danbury tree service owner, whom we will refer to as the “Irresponsible Taxpayer,” has been sentenced to prison for evading taxes and misusing pandemic relief funds.
Tax Advisor Admits Role in Concealing $70 Million in Offshore Income for Celebrity Clients A Dutch tax advisor has pled guilty to assisting in a fraudulent tax scheme that concealed over $70 million in income for a roster of high-profile