1. San Fernando Valley family members sentenced to years in prison for fraudulently obtaining tens of millions of dollars in COVID relief: The Ayvazyan family received sentences ranging from 17.5 years in prison to 10 months of probation for crimes including bank and...
Sales and use tax fraud includes willful or intentional filing of false sales returns and failing to remit use taxes. It involves either underreporting the sales worth or the value of the items you are using in another state. Sales and use tax fraud can lead to severe...
A new business tax case enforcement office In the spring of 2020, the Internal Revenue Service (IRS) opened a new division devoted primarily to investigating tax fraud involving small businesses. Heightened vigilance by the IRS Any small business or self-employed...
Some people say, “ignorance is bliss.” Similarly, it might also be a defense against tax crimes.In 1991, the United States Supreme Court ruled in Cheek v. U.S. that “a good faith misunderstanding of the law or a good-faith belief that one is not violating the law...
In the past year, bitcoin and other cryptocurrencies gained popularity among investors around the world. Cryptocurrencies exist as virtual tokens that allow investors to electronically transfer assets in a secure way using digital technology. However, they can present...
Reports from multiple casinos about the spending of a public official in Montgomery County alerted the Internal Revenue Service to the possibility of unpaid income taxes. The subsequent IRS investigation eventually uncovered the fraudulent activities of the chief...
The year is almost over, and it will soon be tax time again. However, according to the IRS, a significant portion of taxpayers in Maryland and across the U.S. fail to adhere to the tax code when they file their returns.The IRS reports that around 17 percent of tax...
A federal judge in Maryland has sentenced a 45-year-old Baltimore County woman to seven years in prison for identity theft and filing fraudulent income tax returns with the Internal Revenue Service. A jury returned guilty verdicts on 14 counts of wire fraud,...
Published in Tax Notes, Aug. 27, 2018, pp. 1327-1329. By Nathan J. Richman Between possible non-tax-evasion motives foreven the most secretive uses of virtual currencies and the long list of open tax questions, practitioners say the IRS shouldn't hurry to amend its...
The unpaid tax debt owed by 20 individual and 25 business taxpayers in Maryland totals over $12 million according to an announcement by the state comptroller. The names of the delinquent taxpayers were posted on the agency's website in an effort to compel them to pay...
