Tax preparers know that the EITC stands for Earned Income Tax Credit, which for 2021 can range from $1,502 to $6,728. Tax prepares also know that the less you earn and the more children you have, typically, the greater credit you qualify for. Additionally, most tax preparers are well aware […]
Category: Tax Crimes
There is something known as innocent spouse tax relief which can relief one spouse from any IRS garnishment. However, there are several questions that need to be answered first. Five important questions Because of a reform of the Internal Revenue Code, the Internal Revenue Service Restructuring and Reform Act of 1998 (RRA […]
The pandemic has had a monumental impact on every aspect of our national economy. One of the primary ways our government officials responded was through several loans to help small businesses weather the storm and continue paying their employees. As expected, the government has dedicated significant resources to policing the […]
Embezzlement is a far more common occurrence than most people realize. In fact, many businesses treat embezzlement as a common business risk. Accounting for embezzled losses and detecting embezzlement in the office is simply part of doing business. But as an employer, what are your responsibilities? Especially when it comes […]
Getting investigated by the IRS is every taxpayer’s – and tax preparer’s – nightmare. When the Criminal Investigation Division (CID) of the IRS gets involved, you know it’s serious. An investigation could lead to federal criminal charges for fraud, tax evasion, or other crimes. How do these investigations happen? Put […]
Trying to pull one over on the Internal Revenue Service by providing false information is not advisable. However, numerous people every year stand accused of providing false information to the IRS in hopes of gaining higher refunds, owing less in their tax obligation, or receiving some other type of benefit. […]
Employers have many financial responsibilities, and many of those obligations revolve around paying taxes. If an employer fails to pay the proper employment taxes or other business-related taxes, it is possible for that individual to come under investigation by the Internal Revenue Service. If the IRS believes that intentional wrongdoing […]
One of the IRS’s functions is to make sure that people who owe money to the government pay it. When information arises that someone may not have been paying his or her taxes as required, the agency can open an investigation. When the IRS suspects criminal tax fraud by a […]
The Internal Revenue Service (IRS) may have a new focus during its next set of audits: the wealthy. The agency recently announced an initiative that focuses on taxpayers with high wealth. Who will the IRS focus on during these audits? It appears the agency will focus on a specific group […]
Israeli model and television personality Bar Refaeli recently agreed to sign a plea bargain agreement to settle a long-standing tax dispute against the top model and her family. The terms of the agreement include 16 months imprisonment for the celebrity’s mother and nine months of community service for the model. […]