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October 2016 Archives

Major Advance to End IRS Tax Scams - 61 Indicted on $50 Million Conspiracy

The Department of Justice unsealed an indictment today charging 61 individuals and entities for their alleged involvement in a call center scam that has victimized tens of thousands of U.S. citizens and resulted in losses totaling in the hundreds of millions of dollars. Twenty individuals were arrested in the U.S. and other individuals and entities in India were charged with conspiracy to commit identity theft, false personation of an officer of the United States, wire fraud, and money laundering.

Federal Taxpayers Avoiding Billions of Dollars in Backup Withholding

The Treasury Inspector General for Tax Administration (TIGTA) recently released a report that found nearly $9 billion in backup withholding tax was not withheld for 2013 information returns with missing or incorrect taxpayer identification numbers. The IRS should have received nearly $5 billion in backup withholding for payments to these unidentified payees, but payers withheld only $1 million.

Santa Barbara DUI Attorney Pleads Guilty to Willfully Failing to File Tax Returns

Darryl Genis, a 60-year-old DUI attorney practicing in Santa Barbara County, California, pled guilty recently to three counts of willfully failing to file tax returns between 2009 and 2011, and admitted to willfully failing to pay taxes for the same years, totaling nearly $680,000. He also admitted to underpaying taxes for the years 2005 through 2012. Genis agreed to pay civil penalties for all years at issue, and he faces up to three years of imprisonment.

IRS Tops $10 Billion in Collections Regarding Offshore Accounts

Seven years, 100,000 taxpayers and over $10 billion in taxes, interest, and penalties paid, and the IRS' offshore voluntary compliance efforts are still going strong.

IRS Delays Update to E-Services Accounts

The Internal Revenue Service (IRS) announced today that it will delay the date on which e-Services users will be required to re-register and validate their identities (previously discussed here). There is no new implementation date set. The IRS will need more time to discuss security protocols with "key stakeholders" in order to ensure a smooth transition. For more information on this change, click here: https://www.irs.gov/individuals/important-update-about-your-eservices-account.

Corporations with Federal Tax Liabilities Barred from Contracting with Government Agencies

If your company contracts with the Department of Defense, General Services Administration, or the National Aeronautics and Space Administration (NASA), you have one more reason to be compliant with your federal tax obligations: Effective September 30, 2016, these agencies will no longer award contracts to corporations having delinquent Federal tax liabilities or a felony conviction under any law. This includes any assessed liabilities such as unpaid income tax, employment tax, payroll withholdings, and social security and Medicare taxes that are not contested or paid on time.

Tax Court Finds that California Chiropractor Fraudulently Failed to File Tax Returns

A self-employed chiropractor based in Hayward, California, was found liable for penalties for failure to file tax returns for eight years with the intent to conceal, mislead, or otherwise prevent the collection of tax. The original IRS investigation of Dr. Ramon Reynoso began in 2003. In April 2008, he pleaded guilty to criminal income tax evasion for only one tax year. Subsequently, the Commissioner issued notices of deficiency for tax years 1997 through 2004. Dr. Reynoso filed a Tax Court petition to dispute the penalties assessed for fraudulent failure to file, failure to timely pay, and failure to pay estimated taxes.

Federal Tax Relief for Farmers and Ranchers Affected by California Drought

Taxpayers with farms or ranches in certain California counties, cities, or districts that suffered from "exceptional, extreme or severe drought conditions" between September 1, 2015, and August 31, 2016, are being provided tax relief by the Internal Revenue Service in the form of deferred taxes on the gains from forced sales of livestock. Many will have an extra year to replace any livestock held for specific purposes, such a draft or dairy, and sold during the drought outside of their normal sales cycle. For details, including a list of specific designated counties, click here.

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