The U.S. Department of the Treasury posted on October 4, 2017 that it would amend or completely do away with eight tax regulations issued under the Obama administration, including rules regarding corporate debt and transfers of estates, as part of an effort to simplify the tax code. Treasury also announced that it continues to work to identify additional…
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OMG! Catholic Priest Sentenced to Prison for Tax Evasion and Bank Fraud
A priest for the Roman Catholic Diocese of San Jose was sentenced to 36 months in prison, announced Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Brian J. Stretch for the Northern District of California. According to documents and information provided to the court, from 2008…
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Automated Substitute for Return (ASFR) Program Suspended!
The IRS has paused selection of new cases for its automated substitute for return (ASFR) program because of resource constraints, the agency confirmed to Tax Analysts September 27, 2017 “Like many operations across the IRS, work on the ASFR program has been affected by resource limitations,” the IRS statement said. “These resource constraints have forced…
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Former Fla. Rep. Gets Prison Time For Skipping Tax Returns
According to Law360, a Florida federal judge sentenced former state Rep. Erik Fresen to 60 days in prison on Friday for failing to file seven years' worth of tax returns while serving as a legislator. In a hearing in Miami, U.S. District Judge Robert N. Scola ordered Fresen to serve 60 days in prison in…
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