Best of both worlds? Combined pension/401k Nov 7, 2009
However, the Internal Revenue Service and the U.S. Treasury only recently began developing rules for the plans, so adoption may be delayed until later next year. Still, the retirement services industry expects interest to increase once the economy improves and competition for workers intensifies. (MSNBC -- Business)
Girls Gone Wild CEO Joe Francis is a Free Man Nov 7, 2009
In 2007, Barrett contacted the IRS Whistleblower program, soliciting a reward for information of possible tax evasion by Francis involving the very returns he helped prepare ... Barrett then tried to prevent Francis from uncovering the crime by destroying company computer records and sparking an IRS investigation that would distract Francis and hopefully land him in prison ... To put the matter behind him, Francis decided to pay total restitution, back taxes and interest to the IRS in the total... (Yahoo! Wire -- Entertainment News)
9th Circuit Vindicates Judge for His Ruling in Bizarre Murder-for-Hire Case Nov 7, 2009
Federal prosecutors charged Hinkson with attempting to hire his onetime friend, Elven Joe Swisher, to kill an IRS agent, a prosecutor and an Idaho district judge. A tax protester who made his living running WaterOz a company that sold water with small bits of dissolved gold and platinum over the Internet Hinkson hated federal authorities: He spoke of building a "fed-a-pult," which "was a device to catapult federal agents into a canyon or into an oncoming train," according to the opinion. (Law.com)
Auditor seeks review of charter school Nov 6, 2009
Taylor is also asking the Internal Revenue Service and the Ohio Department of Taxation to investigate tax payments that were withheld from employee paychecks but not sent to the proper federal and state agencies. E-mail mlehman@bizjournals. (Dayton Business Journal, OH)
IRS seeks thousands for refunds Nov 6, 2009
Wouldn't it be great if the IRS were looking for you to give you money ... The only way taxpayers can get that money, which the IRS holds indefinitely, is by coming forward ... "Money Q "Company Town" are featured exclusively at , a members-only web site of the Pittsburgh Post-Gazette. Our gives you all the details. First published on November 6, 2009 at 12:00 am Online: Print: Copyright ?1997 - PG Publishing Co., Inc. All Rights Reserved.. (Pittsburgh Post-Gazette, PA)
Ex-police head in NYC pleads guilty to 8 felonies Nov 6, 2009
In a low but firm voice, Kerik said "guilty" eight times as he admitted to eight felonies, including lying about paying taxes on his children's nanny, hiding income from the Internal Revenue Service and faking a charitable contribution. Kerik acknowledged failing to declare book royalties, consultant fees and the use of a BMW.. (AZCentral -- News)
Ready to hire? Consider your options Nov 6, 2009
" The temporary employee, meanwhile, "is going to be clocking out at 5," she said. And an independent contractor may be juggling jobs for other companies. Anyone who has hired employees knows it can be an iffy proposition. When someone doesn't work out, there are issues about how to handle the dismissal, and the search for a successor can take time. But with the right employee, a company has a chance to grow. "The person is more readily integrated into the culture of the organization, which can... (MSNBC -- Business)
They're Employees. No, They're Not Nov 6, 2009
But just 10 days later the IRS announced that it was reversing a $319 million tax assessment against FedEx that had been based on the allegation that the company misclassified drivers as contractors. The IRS won't explain its action and FedEx won't comment but for federal tax purposes the drivers now appear to be independent contractors after all ... Making matters even more complicated, even as the IRS let FedEx off the hook, the agency said it is taking a closer look at other companies that... (BusinessWeek)
Botti Trial Focuses On Cash; Deliberations Could Start Today Nov 6, 2009
Prosecutors focused on as much as $1 million in cash in their closing argument to jurors in U.S. District Court in the first of what is expected to be two trials involving Shelton developer James Botti ... Jurors could begin deliberations today in the first trial, at which Botti is accused of making a false statement to the IRS, conspiracy, and illegally structuring transactions to hide cash from federal tax agents ... The presentation of evidence in Botti's first trial began Monday and... (FOX61, CT)
Track coach Trevor Graham expected to be charged with obstructing steroid probe - USATODAY.com Nov 6, 2009
Prosecutor stepping down. Track coach Trevor Graham expected to be charged with obstructing steroid probe. (Yahoo News -- Track and Field)
U.S. is blissfully stuck in debt spiral Nov 6, 2009
hiluix wrote on Nov 5, 2009 12:33 PM:Next thing you know MARKM will be saying Santa Clause the Easter bunny and the Tooth Ferry all approve of the health care bill and the environmental bill , which by the way is where alternative clean energy will come from and fine first rate nationalized health care will also be free and plentiful ... Imagine another branch of government that ultimately must listen to the Secretary of the Treasury - another service of which is the IRS.... (Coos Bay-North Bend The World, OR)
Scientology woes: Defections, court fights test embattled institution Nov 6, 2009
The Internal Revenue Service granted the church tax exemption in 1993 after a nearly four-decade battle over whether it should be considered a religion. Critics say Scientology is a business, preying on people by charging exorbitant sums for services. (Orangeburg Times and Democrat, SC)
Congress Votes to Extend Unemployment Benefits and Home Tax Credit Nov 6, 2009
With some 7,000 people exhausting unemployment benefits every day and the $8,000 tax credit for first-time homebuyers set to expire at the end of November, President Barack Obama is expected to quickly sign it into law. The $24 billion package also contains tax credits aimed at struggling businesses. (KLAS-TV.com, NV)
Missing your tax refund? IRS has 969 Conn. checks Nov 6, 2009
The IRS has 969 undelivered income tax refund checks owed to people who filed returns for 2008 ... The checks were returned to the IRS by the U.S. Postal Service because of mailing address errors ... If one of them is yours, the IRS will reissue the check after you correct or update your address. (Republican-American)
Questions raised in win Nov 6, 2009
Advertisement The party and members of Erie County Council now want to know whether Beeman's habit of resisting government authority -- multiple citations for driving on a suspended license and an estimated $2 million debt to the Internal Revenue Service -- will bar him from claiming the County Council seat he won. Tim Wachter, counsel for the Erie County Republican Party, and County Council Chairman Ronald "Whitey" Cleaver said efforts are under way to determine whether any of Beeman's legal... (Erie Times-News, PA)
WNY groups reach out to disabled Nov 6, 2009
Business First of Buffalo - by ... That puts rehabilitation and services for the disabled at the top in terms of economic impact, according to the 2009 Million Dollar Nonprofits, an annual research report by Business First that analyzes the nonprofits from an eight-county region with revenues of at least $1 million ... This year, that list includes 233 agencies who made the threshold based on 2007 IRS tax data. (Buffalo Business First, NY)
IRS owes $123.5M in refunds Nov 6, 2009
Your browsers security settings are preventing some features from appearing. The Clarion-Ledger November 5, 2009. (The Clarion-Ledger)
Dems' Healthcare Means Tax Increases Nov 6, 2009
Additionally, except under limited circumstances, Americans who do not obtain government-approved health insurance would be required to pay a penalty excise tax that would be enforced by the Internal Revenue Service. The Senate Finance Committee bill specifically amends the federal tax code and imposes an excise tax on individuals without essential health benefits coverage. (Human Events Online)
IRS seeks 9,400 SoCal taxpayers for unpaid refunds Nov 6, 2009
IRS seeks 9,400 SoCal taxpay 000000A4 ers for unpaid refunds ... First-time home buyer credit could draw scammers ... Ever wonder just how somebody scams the system to get an $8,000 first-time home buyer tax credit. (Fresno Bee -- State)
Fla. Firm's Attorneys Rally Their Defenses as Partner Faces Fraud Allegations Nov 6, 2009
FBI and IRS agents raided the law firm Wednesday, seizing 44 boxes of evidence, hard drives and trash ... Coral Gables criminal defense attorney Joel Hirschhorn of Hirschhorn & Bieber said the unraveling of Rothstein's firm is good for lawyers in a slow economy ... Hirschhorn said he has been contacted by someone associated with the RRA law firm but hasn't decided whether to take the new client. (Law.com)
Settle IRS Debts Nov 6, 2009
Taxpayers sometimes seek to settle their IRS debt before actually completing their tax returns-a requirement for settling IRS debt. In seeking to effect voluntary compliance, the IRS has a substitute return program, in which they themselves file unfiled tax returns based on the INCOME information documents provided to them as required by law ... Many of these notices carry astronomically high balances due to the IRS.. (Suite101.com)
Millions Of Tax Refund Checks Returned With Wrong Addresses Nov 6, 2009
SEATTLE -- The Internal Revenue Service says it has more than $2. 9 million in refund checks for Washington state taxpayers that were returned by the U.S. Postal Service due to mailing address errors. (KIRO TV, WA)
Congress expands homebuyer tax credit, extends jobless benefits Nov 6, 2009
Tax credit: 10% of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyers. First-time homebuyers are defined as people who have not owned a home in the previous three years ... With about 7,000 people exhausting unemployment benefits every day and the $8,000 tax credit for first-time homebuyers set to expire at the end of November, President Obama is expected to quickly sign it into law. (USA Today -- Money)
Tierney hails final passage of unemployment-benefit extension Nov 6, 2009
Extends the $8,000 homebuyer tax credit to first-time homebuyers with a binding contract before April 30, 2010, allowing 60 days to close ... Ensures service members will not have to repay the first-time home buyer credit if they are ordered to deploy to a different location and, as a result, forced to sell their home within three years; and ... Extends for one year, to April 31, 2011, the deadline for taking advantage the first-time homebuyer credit for qualifying service members, so that... (Marblehead Reporter, MA)
Feds' latest move may lift Valley home sales Nov 6, 2009
Potential first-time buyers who may have hesitated or could not close on a house in the program's first phase also get a second chance to do a deal ... He has yet to complete the community's first sale, but Ripson said the expanded tax rebate would make him confident enough about the future to build a couple of speculative homes at the 120-lot Sonoran Acres ... "We're slightly out of the first-time buyers' price range," Ripson said. (AZCentral -- News)
IRS looking for Hawaii residents owed $680K in tax refunds Nov 6, 2009
The Internal Revenue Service is looking for Hawaii taxpayers who are missing 693 refund checks totaling more than $680,000 that were returned to the IRS by the Postal Service due to mailing address errors. The average refund is $983, the IRS said in a news release ... If a refund check is returned to IRS as undeliverable, taxpayers can usually update their addresses with the "Where's My Refund?" tool on IRS.gov. Once the IRS receives an updated address it can send out the refund check. (Honolulu Advertiser)
LETTER: What's wrong with this health reform picture? Nov 6, 2009
Loki813 wrote on Oct 29, 2009 1:32 PM:" I would really like to know why the goverment officals are not going to use the health insurance that they create for the public, if its so good they should be first inline to use this but, since they are not going to use it why should the public want to or have to use this if thier aren't. ". Traveling Circus wrote on Oct 29, 2009 4:32 PM:" " I would really like to know why the goverment officals are not going to use the health insurance that they create... (Mattoon Journal-Gazette, IL)
Michigan twin sisters accused of tax return scam Nov 6, 2009
Sometimes the alleged scam didn't work because the Internal Revenue Service became suspicious and denied tax refunds. There are no phone numbers listed for the sisters. (Fresno Bee)
Former NYC police commissioner Kerik pleads guilty Nov 6, 2009
The first of his trials had been scheduled to start Monday in White Plains. Before he began formally entering his pleas, Kerik told Judge Stephen Robinson that, in addition to the White House lies, he would admit to counts that included cheating the IRS, helping to prepare false tax returns and making other false statements to the federal government. (Florida Today)
LETTER: What's wrong with this health reform picture? Nov 5, 2009
Loki813 wrote on Oct 29, 2009 1:32 PM:" I would really like to know why the goverment officals are not going to use the health insurance that they create for the public, if its so good they should be first inline to use this but, since they are not going to use it why should the public want to or have to use this if thier aren't. ". Traveling Circus wrote on Oct 29, 2009 4:32 PM:" " I would really like to know why the goverment officals are not going to use the health insurance that they create... (Mattoon Journal-Gazette, IL)
Bullock, husband in custody battle with his ex Nov 5, 2009
James has had continuous custody of his daughter since March 1, 2009, when Lindemulder was imprisoned on tax evasion charges she owed over $200,000 to the IRS. On October 13, the court ordered that she would have visitation rights on Sundays pending a further hearing on December 12. advertisement. (MSNBC -- News)
Senate acts to extend jobless benefits, homebuyer tax credit Nov 5, 2009
Tax credit: 10% of the purchase price of a primary residence, up to a maximum of $8,000 for first-time homebuyers and $6,500 for repeat buyers. First-time homebuyers are defined as people who have not owned a home in the previous three years ... By Jim Abrams, The Associated Press WASHINGTON Recognizing that a weak economy still needs a government boost, the Senate voted overwhelmingly Wednesday to provide the jobless with up to 20 weeks in additional unemployment benefits and expand a... (USA Today -- Money)
How not to get 'royally screwed' on wireless costs Nov 5, 2009
An IRS policy from the days when having a cell phone was a big deal is driving some businesses to push cell phone ownership onto their employees ... The IRS pointed out it had to consider personal use of the phones by employees as income and had to pay payroll taxes on it, a participant from the company said ... He said businesses should get an immediate payback from these platforms the first year. (San Francisco Chronicle -- Technology)
Obama administration plays with numbers Nov 5, 2009
The only addition they'll make to the U.S. work force will be the additional auditors the Internal Revenue Service will have to employ to check the paperwork when the buyers ask for the tax credit on their returns this spring. That's why the Obama White House has declared war on math: Because it's a nettlesome reminder of how balky, inefficient and generally useless its various stimulus programs have been. (Athens Banner-Herald)
Senate extends housing credit Nov 5, 2009
4 million first-time homebuyers have taken advantage of the tax credit so far, according to the Internal Revenue Service. The credit is equal to 10 percent of the home's purchase price up to $8,000. (Pittsburgh Post-Gazette, PA)
Recession's Dividend: A Bumper Crop of Corporate Tax Credits Nov 5, 2009
Public companies record two types of earnings, one to the SEC and one to IRS. It is perfectly legal for these numbers not to match, and often they don't. In 2008, retailer Macy's lost just under $5 billion dollars, but only $33 million of that qualified as a tax losses eligible for credits against future profits. (Time.com)
Commentary: Put recovery funds to work Nov 5, 2009
Replacement products must meet the energy efficiency requirements set by the IRS. Consult a qualified contractor for guidance in selecting the right qualifying product for your home. The federal tax credit is available through December 2010. (Allston Brighton TAB, MA)
Law Offices of Rheuban & Gresen: Controversial Los Angeles Clergyman Accused With Inflicting Years of Sexual Abuse and Harassment on Female Employee Nov 5, 2009
"Reverend Lamothe's treatment at Hunter's hands parallels other abuses for which Hunter has confessed. These include but are not limited to Hunter's acknowledged use of church's credit cards to pay for $122,000 in personal items including lavish vacations, jewelry and expensive clothes. He has publicly apologized for misappropriating church funds and now claims to be reimbursing the church. Hunter has also admitted to owing Internal Revenue Service more than $300,000 in federal taxes, interest... (Primezone Releases)
More Kentuckians use federal e-file in '09 Nov 5, 2009
More Kentuckians used e-file for federal tax returns in 2009 - Business First of Louisville ... Business First of Louisville ... The IRS predicts a total of 1. (Louisville Business First, KY)
Jobless, homebuyer aid extensions advance Nov 5, 2009
WASHINGTON - Recognizing that a weak economy still needs a government boost, the Senate voted overwhelmingly Wednesday to provide the jobless with up to 20 weeks in additional unemployment benefits and expand a first-time homebuyer tax credit to include a far larger pool of people entering the dormant housing market ... The $8,000 tax credit for first-time homebuyers, enacted as part of the stimulus package last February and set to expire this month, would be extended and expanded to include a... (MSNBC -- Politics)
Source: Guilty plea for ex-NY top cop Kerik Nov 5, 2009
Kerik was also accused of concealing the gift from investigators and from the Internal Revenue Service. The final count in the first trial alleged that when Kerik was being considered for a Homeland Security advisory position, he denied having any "questionable business affiliations.". (MSNBC -- Crime)
Kerik Expected to Plead Guilty Nov 5, 2009
Jury selection for Kerik's first trial has been scheduled to begin on Nov. 9 ... He has also been charged with hiding income from the IRS, and lying to federal officials while being considered to head the Homeland Security Department. (Newsmax)
FBI, IRS descend on Rothstein law firm Nov 5, 2009
FBI and IRS agents are at the law offices of Rothstein Rosenfeldt & Adler tonight, a day after founding partner Scott Rothstein was stripped of his power there amid accusations he pocketed millions from the firm's trust accounts. "We're here with the IRS on official business," said Judy Orihuela, spokeswoman for the Miami FBI office ... Rosenfeldt said the receiver is expected to make his first report to the court on Friday, at which point Rosenfeldt said he will know whether the firm will... (The Palm Beach Post)
Mayor Dellums, wife owe $239K in back taxes Nov 5, 2009
(11-03) 15:20 PST OAKLAND -- Oakland Mayor Ron Dellums and his wife failed to pay more than $239,000 in taxes over a three-year period and have had a lien slapped on their property by the Internal Revenue Service, public records show. Images. (San Francisco Chronicle)
How to apply for homebuyer tax credit Nov 5, 2009
But how can you tell the Internal Revenue Service you bought a house - mind you, a house - when you didn't. Even when you're just 4 years old. (Fresno Bee -- Business)
Newsom jets to Hawaii to join his family Nov 5, 2009
Taxing troubles: News that Oakland Mayor Ron Dellums and his wife owe the Internal Revenue Service at least $239,000 in back taxes helps solve one mystery - why Dellums never pressed for the ambassadorship to South Africa that his staff was lobbying for him to get. No doubt, had Dellums been fully vetted for an ambassadorship or any other job with the Obama administration, his tax troubles would have bubbled right up. (San Francisco Chronicle)
Cage, Aames' Lifestyles of the Broke & Famous Nov 5, 2009
Cage owes the IRS more than $6. 6 million in income taxes according to a federal tax lien notice obtained by TMZ.com last month. (ABC News -- Business)
Local lawmen push to prevent crime Nov 4, 2009
If I contribute to a (fraudulent) charity and write it off, am I in trouble with the IRS. asked an audience member. (Nogales International, AZ)
Track coach Trevor Graham expected to be charged with obstructing steroid probe - USATODAY.com Nov 4, 2009
Prosecutor stepping down. Track coach Trevor Graham expected to be charged with obstructing steroid probe. (Yahoo News -- Track and Field)
HE NEVER CHECKED: Man Who Lied for Madoff Nov 4, 2009
accountant of almost 20 years pleaded guilty today to perpetuating scheme and admitted that he failed to properly audit the convicted conman's investment advisory firm and helped him lie to the and the Internal Revenue Service. David Friehling Doesn't Talk to Reporters; Released on Bail. (ABC News)
MARTA made $119M on leases Nov 4, 2009
The Internal Revenue Service was not amused, but the Federal Transit Administration encouraged them. All was well until financial companies that guaranteed the deals, such as the insurance company AIG, took a dive, triggering huge possible fees. (Atlanta Journal-Constitution -- Metro)
Obama's Hidden Fees Nov 4, 2009
"If you put something in the Internal Revenue Code and you tell the IRS to collect it," a tax expert told The Associated Press in September, "I think that's a tax." ... If Obama can deny that a charge is a tax even when it's collected by the IRS and identified as a "tax" in the legislation creating it, he surely sees nothing tax-like in the money people are required to spend if they want to avoid that charge ... TOWNHALL DAILY: Be the first to read Jacob Sullum's column. (Townhall.com)
I'll Pass on 'Opting Out' Nov 4, 2009
Democrats tell us they've been trying to nationalize health care for 65 years, but the first anyone heard of the "opt out" provision was about a week ago ... On The Huffington Post, the first sentence of the article on the opt-out plan is: "The public option lives." ... At the same time, IRS regulations made it a nightmare to obtain private health insurance. (Human Events Online)
Retirement planning Nov 4, 2009
The IRS recently issued a ruling that allows seniors who have already taken a withdrawal to change their minds, says Gail Buckner, retirement and financial planning specialist at Franklin Templeton ... If you have that kind of arrangement, you'll be permitted to return only one month's payment, says Barry Picker, an accountant and financial planner in Brooklyn, N.Y. That's because the IRS allows only one IRA rollover a year, he says. (USA Today -- Money)
> Private foundations offer a way to focus philanthropic giving Nov 4, 2009
Private foundations offer a way to focus philanthropic giving - Silicon Valley / San Jose Business Journal. for free extra services. (San Jose Business Journal, CA)
Bill on home tax credit near Nov 4, 2009
Also, it no longer would be limited to first-time buyers of a primary residence, and the income limits for eligible taxpayers would be raised, making many more people eligible ... Government officials testified, however, that many of the problems may be due to confusion among taxpayers and the IRS about the overlapping 2008 and 2009 versions of the tax credit ... With Congress likely to change the eligibility provision again, the new measure could present further administrative problems for the... (Boston Globe)
Feeder fund investors may get tax relief Nov 4, 2009
The Internal Revenue Service issued guidelines in March that allowed tax relief and refunds for victims of Ponzi schemes like Madoff s, in which investors are paid with other investors money rather than actual profits on their investment. But investors in a business with more than $15 million in assets - a level exceeded by the Madoff feeder funds - were not eligible for the tax break. (Boston Globe)
Bungalow 8 owner flirts with reality show Nov 4, 2009
It will be something of a departure for Bravo, which has made stars out of big-personality hairstylists, real-estate brokers and personal trainers -- but has never ventured into New York nightlife before ... In the past two years, the IRS has filed two tax liens against her, for $179,000 and $82,000 ... It will be something of a departure for Bravo, which has made stars out of big-personality hairstylists, real-estate brokers and personal trainers -- but has never ventured into New York... (New York Post -- Entertainment)
Republicans made U.S. nearly bankrupt Nov 4, 2009
Congress had the Internal Revenue Service compile statistics a couple of years back. The I.R.S. did the statistics based on taxable income. (Klamath Falls Herald & News, OR)
Freeman dismisses suit against U.S. Nov 4, 2009
His legal fights first came to light in September, when he over the civil tax penalty ... In the lawsuit, Freeman alleged that the IRS falsely accused him of promoting abusive tax shelters related to an accounting product he developed and sold ... The in Miami has said it could not comment on the case, while the IRS, and Freeman himself have not responded to recent inquiries. (South Florida Business Journal, FL)
Madoff Accountant Apologizes to Victims Nov 4, 2009
He took them on face value, he said, and signed his name to it as a certified public accountant before mailing them to the Securities and Exchange Commission and the IRS. ... Michelle Obama tells how her role as the First Lady has changed her perspective. (CBS News -- Evening News)
Equifax buys Rapid Reporting Verification Nov 4, 2009
Fort Worth, Texas-based Rapid Reporting Verification provides IRS tax transcript information and social security number authentication services. Its products include IncomeChek, which provides IRS verification of income tax information, and DirectChek, which provides Social Security Administration verification of social security numbers and also meets USA Patriot Act compliance requirements. (Atlanta Business Chronicle, GA)
Senate health-care bill would cover prayer-based treatments Nov 4, 2009
This is what caused Medicare to be headed for the Red in 7 years, and I see it brought up here all the time but what I never see is a Republican who admits that they own all the responsibility for passing that legislation that First pushed in 2003 for his pharmaceutical masters ... I went first to the medicine man Unmentionable, didn t tell him why I was asking, just wanting a knee jerk reaction from a man of science and of faith with, as he says, as much faith in science as in faith in a... (Atlanta Journal-Constitution -- Opinion)
Draft regulations on Minerals and Mining Act - Alhaji Dauda Nov 4, 2009
He said members of the taskforce included mineral commission, internal revenue service, VAT Service, Bank of Ghana, revenue agencies and governing boards. Alhaji Dauda said the Ministry had also directed the Administrator of Stool Lands to publish all royalties transferred to the assemblies to ensure transparency and accountability in the system. (Ghana Web, Ghana)
RRA's demise to have trickle-down impact Nov 3, 2009
A 2008 IRS filing by the indicated it had paid or approved $445,000 in contributions and gifts $200,000 for the Dan Marino Foundation, $225,000 to Alozno Mourning Charities' and $20,000 for the scholarship and education program in Fort Lauderdale. The Mourning foundation is named after the former all-star Miami Heat center. (South Florida Business Journal, FL)
