Income Taxes

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 Unlicensed tax preparer gets probation for tax fraud

September 27, 2013 

Unlicensed tax preparer gets probation for tax fraud

A Tulsa, Oklahoma, woman was sentenced Wednesday to five years of probation and was ordered to pay more than $79,000 in restitution to the Internal Revenue Service after pleading guilty to aiding and assisting in the preparation of a false federal income tax return.

 Congress Releases Goals of Potential Internet Sales Tax Law

September 23, 2013 

Congress Releases Goals of Potential Internet Sales Tax Law

On Thursday, the House Judiciary Committee released basic principles pertaining to the issue of Internet sales tax. To develop these principles, the Committee received input directly from taxpayers, industry and trade groups, and representatives of state and local governments.

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September 18, 2013 

Swiss Banks to Turn Over Info on U.S. Accounts

The Tax Division of the U.S. Department of Justice has announced an agreement with Switzerland that would permit all but a few Swiss banks to avoid criminal prosecution by paying substantial fines and turning over information on accounts held by American clients.

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September 8, 2013 

Income Tax Planning Takes More than a Magic 8-Ball

On the conference room shelf of a CPA’s office I visited recently, I noticed a Magic 8-Ball with the label “free tax answers.” When turned, the die floating in colored liquid inside the ball presses against the window to reveal an affirmative, negative, or non-committal answer such as “cannot predict now.”

Dustin Wheeler