Withum

FEBRUARY 1, 2024

Last year is a closed book for most transactions that will be reported on your 2023 tax return. However, there are some things you could do now that would simplify your tax return for 2024 and later years and also reduce the fees you pay a professional preparer. Here are some actions to consider.

tax return 59

tax return Tax Gambling tax preparation 59

Going Concern

SEPTEMBER 25, 2023

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.

tax preparation 105

tax preparation Gambling accounted accountant 105

CPA Practice

SEPTEMBER 9, 2024

5, the IRS Criminal Investigation unit reminded taxpayers that illegal sports gambling can result in criminal charges ranging from money laundering to tax evasion. Between fiscal years 2020 and June 2024, IRS-CI initiated 151 investigations into illegal gambling activity totaling more than $178.8

Sports 52

Sports Gambling tax return Gaming 52

inDinero Accounting

OCTOBER 16, 2023

Those include: Gambling Real estate Lending institutions “Adult” businesses Non-profits What Documents Do You Need for an SBA Loan? Personal Tax Returns As with your credit score, the SBA will look at your personal tax returns to analyze whether or not you’ll be fiscally responsible when you take on your SBA loan.

Real Estate 92

Real Estate tax return Non-Profits income tax 92

CPA Practice

MAY 8, 2024

By Connor Sheets, Los Angeles Times (TNS) Ippei Mizuhara, the former interpreter for Dodgers superstar Shohei Ohtani, has agreed to plead guilty in federal court to stealing millions of dollars from Ohtani to cover gambling debts, according to the U.S. Department of Justice. The extent of this defendant’s deception and theft is massive,” U.S.

Gambling 52

Gambling Sports tax return Tax 52

LyfeAccounting

APRIL 8, 2021

of all individual tax returns. Judging by the numbers… …it’s clear that returns reporting higher incomes are looked at a bit more closely by the IRS as the ability to benefit from large tax deductions and credits increases. Claiming Large Losses From Gambling. You owe taxes on the gain.

audit 59

audit Gambling tax return Tax 59

Withum

MAY 14, 2024

Some means include virtual currencies, collectibles, gift cards, register zappers, gambling, and barter. The reasons go from troubled financial situations, gambling or other addictions, avoidance of sales or income taxes, evading of the pesky payroll and minimum wage rules, and attempts to obtain other government benefits.

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audit forensic accounting tax return Gambling 75

LyfeAccounting

JULY 1, 2021

But in 1931, Capone was found guilty of 22 counts of federal income tax evasion and was convicted to 11 years in federal prison, in addition to $215,000 plus interest due on back taxes. You see, despite publicly displaying his wealth, Capone never filed a Federal tax return. If not, you may owe taxes on the benefits.

Tax 52

Tax Gambling tax return income tax 52

CPA Practice

OCTOBER 25, 2024

That takes hours per tax return. And one of the things I think we also know and can recognize is that once we have all the data, the tax prep software is really going to be helpful there, right? Or do you have gambling income? They say yes to gambling income. I’ll pick that one. We ask them for the W 2g right?

Technology 115

Technology accounted accountant Account 115

Going Concern

FEBRUARY 9, 2024

Tax Betting on the Super Bowl? You gotta pay the piper’ on your winnings, says tax expert [ NBC10 Philadelphia ] All gambling winnings are considered taxable income by the Internal Revenue Service, even if you aren’t a professional gambler. “Win big?

Technology 104

Technology Colorado audit cpa firm 104

LyfeAccounting

MAY 18, 2021

Authorities claim Brooks fraudulent tax returns showed over 700 thousand in payments and 7 million in unemployment payments to employees of Cars Direct. The Problem: This is the case of someone who allegedly used a dissolved business, fraudulent tax returns, and used PPP funds for non-business activities.

Florida 71

Florida tax return Washington Gambling 71

SkagitCountyTaxServices

FEBRUARY 4, 2021

As a Mount Vernon business owner, you may have a couple different tax returns to wade through each year (and maybe more, depending on the number of active entities you’re managing). Want to get a jump on things? Yes, or yes? Here’s where you can reach us: 360-424-1040.

income tax 56

income tax Tax Real Estate tax return 56

Dent Moses

FEBRUARY 19, 2025

This blog series will walk you through various tax deductions, from medical expenses to homeownership and charitable giving. We will break down key deductions, including recordkeeping requirements, and offer practical planning tips to help you get the most out of your tax return.

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tax return Gambling Tax Maine 40

ThomsonReuters

OCTOBER 12, 2023

This category typically includes salaries, wages, bonuses, and self-employment income received from foreign employment or business activities. The IRS  Interactive Tax Assistant  can help you determine whether income earned in a foreign country is eligible to be excluded from income reported on your U.S. tax return.

Tax 40

Tax tax return income tax Real Estate 40

LyfeAccounting

JULY 9, 2021

This would be dividends, interest, capital gains, gambling winnings, alimony, social security benefits, pensions, and annuities. federal income tax return. This would be salaries and wages, commissions, bonuses, professional fees (if you’re a contractor), and any tips received. Unearned income. Variable income.

income tax 52

income tax Tax Gambling tax return 52

FraudFiles

JUNE 14, 2021

The total spending is compared to known sources of income or funds: wages, bonuses, stocks sold, bank loan proceeds, gifts from family, and gambling winnings. As with the expenses, the forensic accountant should be careful to consider all possible sources of income in order to be as accurate as possible.

forensic accounting 59

forensic accounting accounting and finance Legal Government 59

Analytix Finance & Accounting

MAY 7, 2025

It determines WHEN you recognize income and expenses on your books a seemingly small detail that creates massive ripple effects across your financial statements, tax returns, and business decisions. But if you make them based on misleading numbers, you’re essentially gambling with your business.

accrual accounting 52

accrual accounting accounted accountant Account 52

CPA Practice

MARCH 6, 2024

Terry Link, who wore a secret FBI wire in a sting against a colleague in the Illinois Legislature, was sentenced to three years of probation Wednesday on tax evasion charges stemming from the withdrawal of campaign funds for personal use.

Illinois 105

Illinois Tax Gambling Gaming 105

Going Concern

JANUARY 19, 2023

Las Vegas tax preparer sentenced to prison for multiple fraud schemes King Isaac Umoren was sentenced to 13 years and three months in prison for filing false tax returns, aggravated identity theft, wire fraud, money laundering and impersonating an FBI agent. government. He was also ordered to pay nearly $9.7

Tax 64

Tax tax return Gambling tax preparation 64

Going Concern

NOVEMBER 25, 2022

Trump reported losing nearly $1B over 2 years on tax returns: accountant testifies [ New York Post ]. Former President Donald Trump reported losses on his tax returns each year for a decade – including close to $1 billion in a two-year span alone, his onetime accountant testified at trial this week.

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audit accounted accountant Account 98