Income Tax Settlements News

Recent News about Income Tax Settlements

Tax settlement favors AT&T mobile internet service subscribers -- With income taxes plaguing so many U.S. consumers, it isn’t very often they see a reimbursement for taxes paid on a service, but a class action lawsuit filed against AT&T is requiring the mobile provider to pony up nearly $1 billion in paid taxes to its subscribers as part of a settlement.
U.S. and foreign banks in talks for tax settlement -- A high-profile tax settlement between the U.S. government and UBS in 2009 has led U.S. officials to investigate several European and Swiss banks which could result in a settlement permitting these banks to avoid tax evasion charges.
West Virginia man sentenced for tax fraud, other charges -- A former member of the West Virginia House of Delegates, was recently sentenced to two years in prison for charges related to a gambling ring.
Massachusetts business settles with IRS -- A wastewater treatment firm from Worcester, Massachusetts, has agreed to a settlement with the Internal Revenue Service.
Former NBA player sentenced for tax evasion -- A former member of the NBA's San Antonio Spurs, received a year of probation for tax evasion, resulting from a conviction in a trial more than three years ago.
Japanese restaurant owners sentenced for tax crimes -- The former owners of Maki Maki, a Japanese eatery located in Racho Mirage, California, were sentenced to prison time after being found guilty of tax evasion and insurance fraud.
Recession puts increased burden on state and local governments -- Due to lingering effects of the recent recession, many state and local governments have had difficulty raising revenue from their residents.
Michigan firm promotes tax settlements -- If a resident of Michigan is behind with payments on back taxes, they now have the option to take part in an amnesty program, which would not force delinquents to pay penalties or their past infractions.
Drug rehab facility operators sentenced for tax evasion -- William and Diane Steiniger, the operators of the Desert Canyon Treatment Center, a drug rehab center in Sedona, Arizona, were sentenced to prison this week after being convicted of tax-related crimes last year.
Louisiana men arrested for tax evasion -- Three Louisiana men were arrested this week in connection with a money laundering and tax evasion scheme that netted more than $3 million.
Missouri man booked for tax fraud by IRS officials -- A Springfield, Missouri, resident was sentenced to prison time this week after he was found guilty of a fraud scheme and evading income tax payments.
Massachusetts accountant hit with tax evasion sentence -- Gary Mallows, a Longmeadow, Massachusetts, resident and former accountant was sentenced to time behind bars after committing tax evasion and failing to file a tax return.
Former dentist faces IRS action after death -- This week, the IRS filed a lawsuit against a deceased Pennsylvania dentist in an attempt to seize his home and sell it to recover back taxes.
Prosecutors recommend jail for Survivor winner -- Federal prosecutors are recommending a jail sentence for Richard Hatch, the former winner of the popular CBS reality show Survivor.
New Jersey taxpayer indicted for offshore accounts -- Vaibhav Dahake, a New Jersey businessman, was indicted this week on charges that he hid his earnings from the federal government in offshort bank accounts in India and the British Virgin Islands.
Former Swiss Re head admits guilty of tax evasion -- Llewellyn Connolly, the former managing director of global asset management firm Swiss Re, admitted to charges of felony tax fraud this week.
Big Brother winner sentenced for tax evasion, drug offenses -- Adam Jasinkski, best known to primetime television enthusiasts as the winner of the ninth season of the popular reality show Big Brother, was sentenced to prison this week on charges of drug dealing and tax evasion.
California tax evader convicted of charges -- This week, a Pleasant Hill, California, resident was convicted of evading federal income taxes and found guilty of using a fake Social Security number on his statements.
Iowa businessman sentenced for tax evasion -- A 52-year-old Des Moines, Iowa, businessman, was sentenced to jail time for federal tax evasion and ordered to pay restitution charges this week.
Minnesota husband and wife arrested on tax evasion charges -- A fugitive husband and wife from Minnesota were recently arrested in Texas in connection with a tax evasion scheme.
Tax collection agent faces decade in prison for tax cheating -- A California resident and former IRS agent could get up to nine years behind bars after admitting he fraudulently filed his own income tax returns.
California attempts to put out cigarette tax evasion -- The state of California is attempting to instate new high-tech devices that will help its government officials collect more than $180 million annually.
Overseas Americans benefit from IRS amnesty plan -- American citizens who currently hold bank accounts in overseas banks may benefit from a new IRS initiative that allows amnesty to suspected tax evaders.
Tax evader Jinwright appeals conviction -- After being sentenced to nearly seven years in federal prison, North Carolina resident Harriet Jinwright and her attorneys are seeking to appeal her charges.
"Street Fighter" developer sentenced for tax evasion -- A former video game developer behind titles such as "Street Fighter II: Hyper Fighting," "Tiger Woods PGA Tour 2005," and "Alvin and the Chipmunks" was found guilty of tax evasion this week.
Former Memphis police officer guilty of tax evasion -- A former Memphis, Tennessee, police officer who pleaded guilty in August to beating a transgender prisoner, confessed to federal tax evasion on Tuesday.
Missouri bookkeeper indicted on tax evasion charges -- The U.S Attorney's office announced this week that a in Ballwin, Missouri, resident would be indicted on four counts of tax evasion and six counts of felony bank fraud.
Massage center operator sentenced for tax fraud -- Anne Connor, the former manager of a Bethany Beach, Delaware-based massage center was sentenced for tax fraud on Tuesday.
Former tax professional sentenced for embezzlement, false income taxes -- U.S. District Judge Donald Molloy sentenced a Butte, Montana, resident and former employee for H and R Block on charges of tax evasion.
New Jersey officers admit to tax evasion -- A high-ranking Newark, New Jersey, firefighter pleaded guilty to federal tax evasion this week, becoming the fifth city official to admit filing false income tax returns.
Floridians owed millions in refunds from IRS -- The IRS announced today more than 11,000 Florida residents are owed income tax refunds from tax year 2009.
Many Idaho tax refunds undeliverable, IRS says -- IRS officials are currently looking for more than 400 Idaho taxpayers whose tax returns have been classified as undeliverable.
Los Angeles Laker sues IRS over taxes -- Lamar Odom, forward for the two-time defending NBA champion Los Angeles Lakers, has filed a lawsuit against the IRS.
Former CFO admits to embezzlement, tax evasion -- John Eichner, a Montvale, New Jersey, resident pleaded guilty to charges of tax evasion and wire fraud in a federal court on Tuesday.
General Mills to pay restitution in IRS settlement -- General Mills, the producer of breakfast cereals such as Cinnamon Toast Crunch, Cocoa Puffs and Kix, announced today it will pay more than $400 million to the IRS.
Former 'Charger' charged with tax fraud -- FBI and IRS officials in Nashville, Tennessee, joined forced to a arrest a Madison, Mississippi, business owner this week for twelve counts of wire fraud, money laundering and tax evasion.
'Blade' actor wins appeal hearing for tax evasion charges -- Wesley Snipes, renowned martial artist and star of major motion pictures like 'Major League,' 'New Jack City,' and 'The Blade Trilogy,' is taking his tax attorneys to Florida, where he plans to battle tax evasion charges.
New Orleans technology officer commits tax evasion -- Former New Orleans, Louisiana, chief technology officer Greg Meffert pleaded guilty to bribery and tax evasion in court Monday.
Sports agent booked for tax evasion -- A prominent Silver Spring, Maryland, sports agent has been accused of evading seven years worth of income taxes from the federal government.
Chiropractor gets two years for income tax evasion -- A New Hampshire chiropractor was sentenced for tax evasion this week in a U.S. District Court.
Ex-firefighter arrested on tax evasion charges -- A firefighter from Henderson, Nevada, was taken into police custody on Thursday after being arrested in connection with a tax evasion case.
'Stripping' business owner guilty of income tax evasion -- A Salt A Salt Lake City, Utah, business owner pleaded guilty to tax evasion charges this week.
Income tax evader faces 'naked truth' -- IRS officials charged Samuel Moore, a Virginia club owner, with federal income tax evasion this week.
NJ Insurance broker admits tax evasion -- A Morristown, New Jersey, insurance broker pleaded guilty to three counts of tax evasion in a Trenton District Court this week.
South Carolina councilman faces tax charges -- Columbia, South Carolina's longest-serving city councilman, E.W. Cromartie II, is set to appear in court this week, where he faces charges of federal tax evasion.
Bethesda family sentenced for tax evasion -- A federal judge sentenced a Bethesda, Maryland, couple this week for tax evasion.
Former Georgia legislator convicted of tax evasion -- After two years of pending tax evasion charges, the case against former democratic representative Jeanette Jamieson will finally be heading to trial.
Big Business oppose new Washington income tax -- As the fight over the Bush Tax Cuts rages in Congress, a similar battle over a new income tax in the state of Washington has received some high-profile support.
Miccosukee tribe forced to release documents that may expose withheld taxes -- This past week, the Miccosukee tribe lost the battle against a federal court to withhold tax information and is now being forced to turn over the financial documents to the Internal Revenue Service. The tribe is under scrutiny for the documents, which may reveal that a former chairman had gone on a multimillion-dollar spending spree.
Payroll tax debt can hold back small businesses -- Falling behind on payroll tax deposits can cripple a small business, and the Internal Revenue Service shows little sympathy for delinquent tax payers, said one expert.
Work in the restaurant industry? The IRS is keeping a closer eye on tips and gratuities -- Many college students, recent graduates and even teachers during their summer vacations work in the restaurant or hospitality industries for extra income. But the Internal Revenue Service says that workers are drastically underreporting their income by failing to disclose how much they earn in tips, according to media website Marketplace.
Act quickly to get an IRS tax lien withdrawn -- Receiving a property lien from the Internal Revenue Service may be resolved with little damage to a taxpayer's credit report if they do their homework and move quickly. Few individuals and even tax preparers are aware that they may petition to IRS to temporarily withdraw the lien, according to the North Jersey online newspaper.
IRS may be loosening purse strings on tax liens -- A recent report has prompted the Treasury Inspector General for Tax Administration to reprimand the Internal Revenue Service for apparently going soft on tax liens.
Data shows the IRS accepts fewer offers in compromise -- A recent study reveals that the number of offers in compromise accepted by the Internal Revenue Service appears to be declining.
Low Income Taxpayer Clinic grant program will help eligible individuals settle IRS issues -- The Internal Revenue Service is seeking applications in preparation for the launch of its 2011 Low Income Taxpayer Clinic grant program.
Flood and natural disaster victims urged to contact IRS to amend taxes -- The recent string of floods and tornadoes have left many Americans seeking answers regarding casualty loss claims. Natural disaster victims should contact the Internal Revenue Service to obtain copies of tax records and gain assistance in amending their taxes, the Tennessean reports.
Upscale retirement community battles IRS over tax dispute -- For-profit retirement communities are paying close attention to a recent tax dispute brought by the Internal Revenue Service against an upscale facility. Classic Residence by Hyatt, operator of luxury retirement communities, is currently facing a lawsuit for $107 million in underpaid taxes, according to the Wall Street Journal.
IRS expert urges taxpayers who owe the agency to contact them -- Many Americans found themselves owing the Internal Revenue Service money after tax season. But poor economic conditions, foreclosures, and high unemployment rates have made many financially unable to make the payment. Sacramento Bee guest writer and IRS expert Jesse Weller urges taxpayers to contact the agency for tax relief options.
Sussex County will publish list of delinquent taxpayers -- In an effort to crack down on individuals and businesses that owe back taxes to the state of Delaware, Sussex County has announced its decision to publish a list of the 100 top delinquent taxpayers online, according to the Daily Times newspaper.
Americans should amend incorrect tax information to avoid an audit -- Given the large volume of paperwork involved in filing taxes, confusing internal revenue codes and new laws and regulations recently enacted, it can be simple for either an individual or their tax preparer to make small mistakes. Upon discovering an omission or incorrect figure, however, it is ultimately the taxpayer's responsibility to correct the information.
More homebuyers audited this year by IRS -- The Internal Revenue Service received a boost in funding this year to crack down on tax evaders and other Americans who may have misrepresented the information listed on their income tax return. The IRS has also focused their attention on new homeowners that benefited from the federal first-time homebuyer tax credit, according to Bankrate.com.
Reaching out to IRS may help taxpayers resolve debt issues -- Many Americans have negative perceptions of the Internal Revenue Service, because they tend to only hear from the agency when there is a problem. For the many Americans slapped with an unexpected tax bill, reaching out to the IRS may be the best way to negotiate a tax settlement, according to ABC affiliate WXYZ.
Pennsylvania governor reminds citizens that tax amnesty program is halfway over -- Governor Edward Rendell advised Pennsylvania residents to keep the looming June 18 tax amnesty deadline in mind when making preparations to pay delinquent state taxes.
'Whistle-blowers' and investment fund managers may benefit from turning in tax evaders -- Hedge and private equity funds are attempting to benefit from the Internal Revenue Service program that offers informants who turn in tax evaders a share of the collection proceeds, the New York Times reports.
Taxpayers should do their homework on tax resolution before contacting IRS -- The Internal Revenue Service may be willing to help consumers resolve tax debt, but they still have their own interests to look out for. Taxpayers who owe the IRS should understand the process and their financial situation before contacting the agency, advises Tax Resolution Services CEO Michael Rozbruch.
Tax debt and marriage -- An engagement and subsequent marriage can raise questions about who will be liable to pay one spouse's tax debt, especially if the debt was incurred prior to the marriage. Internal Revenue Service expert Jesse Weller wrote to the Sacramento Bee offering advice to couples who are facing delinquent back taxes.
Facing an audit can be painless -- Receiving an audit notice from the Internal Revenue Service can instill fear in almost any American, but understanding the process and following the proper procedures can expedite the process.
Recent floods hurting tax collections in Massachusetts -- The recent devastation to the Northeast due to heavy rain and flooding is taking a toll on state tax collections in areas like Massachusetts, the Associated Press reports.
IRS will host nationwide event to help individuals and small businesses solve tax dilemmas -- The Internal Revenue Service will open up more than 200 offices across the country to individuals and small businesses seeking help with tax issues.

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Income Tax Settlements News

Recent News about Income Tax Settlements