The Internal Revenue Service reported a $4.4 billion decline in total tax refunds as of April 19, the first tax season under the Tax Cuts and Jobs Act, with the average size of tax refunds down about 2 percent.The total number of tax refunds increased slightly, from 95,434,000 to 95,737,000, a 0.3 percent increase. The…
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Zurich Life Insurance Rolls Over on Their US Clients
According to DoJ, Zurich Life Insurance Company Ltd (Zurich Life), headquartered in Zurich, Switzerland, and Zurich International Life Limited (Zurich International Life), headquartered in the Isle of Man (collectively Zurich) reached a resolution with the United States Department of Justice on April 24, 2019. As part of the agreement, Zurich will pay a penalty of $5,115,000…
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Fisherman Gaffed for Tax Evasion
Rhode Island Man Pleads Guilty to Evading Taxes from 2005 through 2016 & Obstructing IRS From Assessing and Collecting Tax. According to DoJ. a Hope, Rhode Island, man who failed to pay hundreds of thousands of dollars in federal income taxes pleaded guilty yesterday to tax evasion. According to court documents, from 2005 through 2016, Billie…
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9th Circ. Finds Inadequate Proof Of Mailing in Dening $167,000 Tax Refund
The Court of Appeals for the Ninth Circuit has reversed a district court decision that held that the taxpayers timely filed their refund claim because they met the requirements of the common-law mailbox rule. The Circuit Court Held That Code Sec. 7502's Timely Mailing Rule Supplanted the Common-Law Rule and That IRS's reg under…
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