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Tax Fraud Blotter: Boundless energy

Accounting Today

Georgia: Attorney Nevada M. Hartford, Connecticut: Tax preparer Clyde Gibson Jr., 43, has pleaded guilty to tax fraud. From at least 2015 into 2024, Gibson was a tax preparer under the name Build Understand Destroys LLC. He prepared thousands of federal returns, many of which claimed false deductions.

Tax
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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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IRS Direct File Launches for Low-Income Taxpayers in 12 States

CPA Practice

It’s back to regular IRS deadlines this year, but with a new tool for many low- and moderate-income households: a service that will prepare and file their tax returns online for free. That sort of virtual hand-holding is similar to what you’d get by using commercial tax preparation software.

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IRS to Try Out Its Free E-Filing Tax Return Program in 13 States Next Year

CPA Practice

According to the IRS, Arizona, California, Massachusetts, and New York have decided to work with the agency to integrate their state taxes into the Direct File pilot program for the 2024 filing season. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

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Friday Footnotes: Tim Ryan Works Too Hard; Fake CPA Gets Violent Over QuickBooks Files; PwC PR | 10.20.23

Going Concern

Nevada CPA Pleads Guilty To Filing False Tax Returns [ U.S. Attorney’s Office, District of Nevada ] According to court documents and statements made in court, Lance K. LLB provided accounting services including tax preparation, audit and consulting services.

CPA
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The accountant’s guide to state taxes on retirement income

ThomsonReuters

States with no income tax. Eight states do not impose a personal income tax, meaning retirement income from any source remains untaxed. These states include Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming. States with no tax on TSPs. However, property taxes can be high in some areas.

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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

The following states have no state income taxes, and therefore no state capital gains taxes: Alaska Florida Nevada New Hampshire South Dakota Tennessee Texas Washington Wyoming Among the other 41 states, some are more favorable to capital gains than others.

Tax