The issue of worker classification for tax purposes is one we’ve been following closely in this blog. In our June 28 post, we wrote about the incentives the IRS has offered for employers to voluntarily reclassify workers as employees rather than as independent contractors. The IRS remains very concerned about […]
Author: Lawrence Brown
This weekend, parents of school-aged children will cram Dallas-area shopping malls and department stores to take advantage of Texas’ “tax-free weekend.” Between Aug. 9 and Aug. 11, Texas will temporarily suspend the normal sales tax on most clothing, shoes and school supplies under $100. The idea is to give families […]
The SEC ended its formal investigation into Sprint Corp.’s sales tax practices without taking action. This decision comes as the New York Attorney General continues to move forward with a case that Sprint failed to collect and pay sales taxes. Sprint says that the SEC opened an investigation in July […]
Two “Real Housewives of New Jersey” stars were indicted Monday on federal fraud charges. Teresa Giudice, 41, and her husband Guiseppe “Joe” Giudice, 43, have been accused of exaggerating their income while applying for loans before their TV show debuted in 2009, then hiding their improving fortunes in a bankruptcy […]
Liechtensteinische Landesbank AG, located in Vaduz, will pay $23.8 million to settle a probe into its use of undeclared accounts to help U.S. taxpayers dodge taxes over a 10-year period. U.S. Attorney Preet Bhara announced the agreement, saying the bank will forfeit $16.3 million, representing revenue it earned for maintaining […]
President Barack Obama will extend a new offer to congressional Republicans today in which he would back an overhaul of the corporate tax system in exchange for a guarantee that resulting one-time windfall be used to underwrite various job creation proposals in an attempt to break an impasse. He plans […]
Bayern Munich president Uli Hoeness surprised Germany when he alerted tax authorities in January to a Swiss bank account he held. He was charged with tax evasion on Tuesday after several months of investigations. “A charge has been lifted against Ulrich H. for tax evasion,” Munich regional court spokeswoman Andrea […]
For better or worse, the Internal Revenue is poised to play a key role in the implementation of the Affordable Care Act (ACA). The tax aspects of the new law will affect businesses and individuals across the country. Congress passed the landmark health insurance law three years ago. And last […]
Benjamin Franklin once said, “In this world nothing can be certain, except death and taxes.” This couldn’t be more true for Grammy-winning singer Lauryn Hill as she begins serving a three-month prison sentence in Danbury, Connecticut for failing to pay $1 million in taxes over the past decade. Hill, who […]
The days of loopholes and lower taxes for corporations may soon be at an end as the Group of 20 largest economies is poised to back a major overhaul of international taxation designed to eliminate these perks. This 15-point plan has been developed by the Organization for Economic Cooperation and […]