May 23, 2013
‘Tax Free New York’ offers 10 years of zero sales, property & business taxes
New businesses would operate completely tax free for 10 years, including no income tax for employees, as well as no sales, property or business taxes.
May 23, 2013
IRS places $170 million lien on Florida tribe for unpaid taxes on casino income
The Internal Revenue Service has slammed the Miccosukee Indians with a bill of $170 million for the West Miami-Dade tribe's failure to report and withhold taxes from its distribution of gambling profits to tribal members, according to court records.
May 22, 2013
Apple CEO defends tech giant’s tax practices
Sen. John McCain, R-Ariz, charged at the hearing that Apple's tax practices violated the spirit of the law and, in a statement Monday, called them "highly questionable."
May 18, 2013
Are Problems with Whistleblower Program the Next IRS Controversy?
Even after the dismissal of the acting IRS Commissioner and a top deputy who oversaw the tax-exempt division, the problems at the Internal Revenue Service seem to keep growing.
May 17, 2013
Florida investigating $3M Medicaid fraud
A Florida investigation into a $3 million Medicaid fraud scheme surrounding an Orlando woman and her mental-health service business has led to the arrests of several of her employees, who are accused of double-billing and taking kickbacks.
May 17, 2013
71 year-old lottery winner gets 1 year in prison for strange tax evasion scheme
He was sentenced to one year and one day of prison by United States District Judge Arthur J. Schwab for evading taxes on several lottery and gambling winnings. The retiree also was given a $3,000 fine and ordered to pay full restitution of $132,445 in back taxes, penalties and interest.
May 16, 2013
An Easier Way for Small Businesses To Stay Compliant with Work Opportunity Tax Credit
With the many new employer tax laws and credits that have gone into effect over the past couple of years, there's little doubt that some small businesses are still unsure of many reporting requirements. For those considering the federal Work Opportunity Tax Credit (WOTC), there's now an easier way to stay in compliance.
May 15, 2013
Regions Bank settles $25M fraud complaint
Birmingham, Ala.-based Regions Financial Corp. has agreed to pay the Louisiana Firefighters' Retirement System $25 million to settle a complaint alleging that it was defrauded by a former portfolio manager, The (New Orleans) Times-Picayune reported April 26.
May 14, 2013
Bipartisan tax overhaul proposal being reviewed in Maine
Lawmakers on Friday were presented with a dramatic tax reform proposal co-sponsored by bipartisan group of legislators.
May 10, 2013
Lawmakers consider boosting IRS whistleblower program
Critics contend that delays and inadequate rules have hindered what could be a powerful way to fight tax fraud
May 8, 2013
Virginia governor candidate proposes $1.4 B in tax cuts
Under Cuccinelli's proposal, the income tax rate would drop from 5.75 percent to 5 percent over four years starting in 2014, and the corporate income tax rate would drop from 6 percent to 4 percent.
May 6, 2013
Affordable housing developer faces investigation on tax credits
A Miami federal grand jury is investigating South Florida's preeminent affordable-housing developer, the Carlisle Development Group, on allegations that it bilked the U.S. government out of millions of dollars in tax subsidies used to finance more than a dozen rental projects in Miami-Dade and Broward counties.