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...
Tax Crimes
Report urges IRS to improve detection of fraudulent EIN use
Businesses in Maryland obtain their employer identification numbers from the Internal Revenue Service. A report prepared by the Treasury Inspector General for Tax Administration criticized the tax agency for its vulnerability to EIN abuse by fraudulent filers that...
Cutbacks at IRS, agency still promises vigorous investigations
Taxpayers in Maryland and around the country were informed recently that IRS investigation and enforcement activity regarding tax crimes took a hit during the first year of the Trump Administration due to cutbacks in funding to the federal revenue-collection agency....
How to protect against cyber tax scams
Maryland residents and small business owners may need to be especially wary of identity theft and other security issues during the tax filing season. This is because thieves may try to get a list of employee W-2 forms in an effort to get the information on it....
Rapper DMX pleads guilty to tax fraud
Maryland residents may be aware that the rapper Earl Simmons, who is also known by the stage name of DMX, has been accused by the federal government of hiding millions of dollars in income to avoid paying taxes. Simmons faced up to 44 years in prison after being...
The basics of tax evasion
To understand tax evasion, Maryland residents should first know the tax process in more detail. When they file a return stating their yearly pay, the IRS will find their adjusted gross income by calculating deductions or expenses that cannot be taxed. Common...
IRS warning taxpayers to be on the lookout for a summertime scam
At this time of the year, the last thing on the minds of most people is their taxes. This makes perfect sense when you consider that Tax Day 2018 is still so far away and there are so many warm weather activities to enjoy.While slowing things down during the summer...
Why the Comptroller’s Office calls a new tax law a ‘game-changer’
In our post last week, we discussed how the principal duty of the Comptroller of Maryland's office is the collection of taxes and how it has a host of tools at its disposal to assist with the fulfillment of this duty. Indeed, the agency collects an astounding $16...
Foreign bank accounts could draw the interest of the IRS
Tax season is upon us, with the annual filing deadline steady approaching. For those with greater assets, the risks of over payment of taxes, as well as the risk of an audit, are ever-present concerns. You probably have someone who handles your finances and...
How to Minimize the Consequences of Tax Crimes in Maryland
Paying taxes is not a hobby to anyone. The greatest number of Americans pay taxes to avoid the grave consequences of federal tax crimes. Others devise strategies of eliminating or avoiding taxes within the legal framework. The Internal Revenue Service (IRS) of the US...