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Tax Fraud Blotter: Negative waves

Accounting Today

Whitman also has not filed an individual income tax return since 1997 and has made no tax payments since 2000. In 2012, the IRS assessed nearly $800,000 in taxes against Whitman for 2002 through 2009 and began trying to collect. Between 2002 and 2018, he generated millions of dollars in gross receipts sales.

Tax
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Tax Fraud Blotter: Boundless energy

Accounting Today

Mississippi: Attorney Charisse C. Liptrot, along with being a police officer, was owner and president of Liptrots Tax Services, where he fraudulently obtained two PPP loans in the name of "Liptrots Tax." Harman, Modoc, indefinite from Nov. 20, 2024, and attorney Jason M. Smith, Seymour, indefinite from Oct.

Tax
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Friday Footnotes: Is AI Actually Improving Audits?; Activists Try to Save Direct File | 7.18.25

Going Concern

Deloitte Tax Acquires Assets of Trust Processing Solutions, a Leading Fiduciary Tax Services Provider [ PR Newswire ] The Deloitte Tax ITG and former TPS employees will form one unified team, offering fiduciary tax services, as well as charitable, individual, gift, estate and information reporting tax services.

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Mississippi Tax Preparers Sentenced to Prison for False Tax Return Conspiracy

CPA Practice

A group of Mississippi tax return preparers were sentenced to prison on February 22, 2024, for charges related to a conspiracy to prepare and file false tax returns for clients in Jackson, Mississippi. Earnest and Randell were also convicted of preparing such returns. million in tax loss to the IRS.

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Is Software as a Service Taxable? 

Anders CPA

Many states don’t require a company to collect tax if all they provide is nontaxable services. How a state may define SaaS could determine if a company is required to file a sales tax return in a particular state, regardless of if SaaS is actually taxable by law within that given state. appeared first on Anders CPA.

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QSBS Exemption Explained: What Investors and C-Corp Executives Should Know

inDinero Accounting

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. This would come to a capital gains tax bill of $140,000 ($500,000 * 0.28).

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Friday Footnotes: Big 4 Culture Gets Slammed Again; Audit Leads the Way in AI; Small Firm Gripes | 11.10.23

Going Concern

Customers of the Falasz Tax and Accounting company say they’re upset because the company didn’t file their taxes on time in April and then missed the October extension date. Earnest and Randell were separately convicted of individual counts of preparing false tax returns.