According to DoJ, a Scottsdale, Arizona man, who formerly resided in Pagosa Springs, Colorado, was sentenced on October 9, 2018 in the U.S. District Court for the District of Colorado to 18 months in prison for filing a false tax return. According to court documents, William Whittington, 68, filed a false 2010 individual income tax…
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Wealthy People Pay Enought Taxes – Top 3% Paid Majority of Taxes in 2016
Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office. If past statistics can offer any guidance, in 2016, $1.44 trillion…
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Skin Care Owner May Need “Frownies” Cream After 2nd Conviction for Tax Fraud
According to DoJ. a Germantown, Ohio businessman who controlled the operation of an anti-aging skincare business in Dayton, Ohio was sentenced to 33 months in prison following his November 2017 conviction by a federal jury on seven counts of filing false corporate, individual, and private foundation tax returns. According to court documents and evidence presented at trial,…
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IRS' Collection Upheld Even Though Taxpayer Issued Check Directing Application of Payment
The majority of the Tax Court has determined that IRS didn't abuse its discretion in declining to apply proceeds of a levy as the taxpayers requested because the payment via levy wasn't voluntary. While the taxpayers had submitted a check to IRS, which would have been considered voluntary and which they would have been…
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