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Tax Fraud Blotter: Who ya gonna call?

Accounting Today

Dolton, Illinois: Tax preparer Byron Taylor, of Homewood, Illinois, has pleaded guilty to preparing and filing false individual income tax returns for clients and for himself. He owned and operated We Are Taxes and boasted that "Everyone Gets a Check!" He caused a total tax loss to the IRS of $914,745.

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In the blogs: It is done

Accounting Today

EDT 2 Min Read Facebook Twitter LinkedIn Email OBBBA and gambling; a billing lesson from bookkeeping; BOI 2.0; and other highlights from our favorite tax bloggers. It is done Eide Bailly ( [link] ): For lawmakers, officials and tax experts, its been a whirlwind of activity and work. Tax strategies for law firm partners.

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4 Texas Tax Preparers Sentenced for $8 Million Fraud

CPA Practice

OBannon Four tax preparers convicted of defrauding the IRS of nearly $8 million have been sentenced to a combined 105 months in federal prison, the acting United States Attorney for the Northern District of Texas Nancy E. The estimated loss to the IRS from these false tax returns totaled more than $7.5 in restitution.

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Accountants Behaving Badly: Police Department Accountant Couldn’t Be Bothered, PPP Loan Fraud, and a Creepy Tax Preparer

Going Concern

TPB slaps 5-year ban on accountant involved in $26m fraud [ Accountants Daily ] The Tax Practitioners Board has slapped a five-year ban on a Sydney accountant charged with stealing $26 million through his firm to fund a lavish lifestyle and gambling addiction.

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In the blogs: Party time

Accounting Today

Crypto moves forward; what to know about gambling; new blog in town; and other highlights from our favorite tax bloggers.

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IRS Audit Red Flags & Triggers: How the IRS Catches You

LyfeAccounting

Claiming Large Losses From Gambling. The IRS pays heavy attention to losses claimed from gambling. This is because you can only deduct gambling losses to the extent that you report your winnings. If you gamble recreationally and claim losses, the IRS will be looking to see if you also reported your winnings in your income.

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A Checklist For Skagit County Business Owners’ For 2020 Personal Income Taxes

SkagitCountyTaxServices

Working with business owners gives the chance to do a lot of damage to tax bills … but personal taxes are still “a thing” Below is a list of what you will need during the tax preparation process on the personal side. Nonetheless, it’s a useful tax checklist.