News & Analysis as of September 23, 2024

Tax Fraud

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Millionaires, Corporate Jets and Crypto: IRS Unveils New Enforcement Initiatives

Fox Rothschild LLP on 3/7/2024

Thanks to a dramatic increase in funding courtesy of the Inflation Reduction Act of 2022, the Internal Revenue Service recently announced several new, high-profile enforcement initiatives designed to generate significantly...more

The President’s Recent Tax Proposals: What Do They Mean For Business Owners?

Rivkin Radler LLP on 5/3/2021

A Night to Remember? Did you listen to the President’s speech last Wednesday? He addressed a joint session of Congress to pitch the Administration’s $1.8 trillion American Families Plan. Due to COVID-related...more

Taxing Times - April 2021

Gerald Nowotny - Law Office of Gerald R.... on 4/1/2021

Male Escort Gets 21 Months In Prison For Tax Case - He lied on his tax returns, resulting in a tax loss to the IRS of $278,325. A male escort who lied to the IRS about his income was sentenced to 21 months in prison and...more

Client Alert – Employers Beware: ‘Tis the Season for Data Theft

Bowditch & Dewey on 12/18/2018

Because cybercriminals don’t take holidays, December is an appropriate time for all employers to take steps to protect tax data and identities (both their own and their employees’) in advance of the 2019 tax-filing season....more

Transferee Liability: The [Unlikely] Situation that your Nonprofit Receives a Charitable Gift with Expensive Tax Strings Attached

Coblentz Patch Duffy & Bass on 10/12/2016

The case of Salus Mundi Foundation et al v. Commissioner - On August 15, 2016, the Tax Court decided in Salus Mundi Foundation et al v. Commissioner, T.C. Memo. 2016-154, that two foundations were liable as transferees...more

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