For the 2019 filing season, the IRS projects that more taxpayers than ever will file and owe. Many will be able to pay – but a lot of them will need to make other arrangements because they can’t pay their full tax bills to the IRS. When taxpayers can’t pay their tax bills, they have…
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IRS Needs More $$$ To Close The Tax Gap
Investing more money in tax administration would result in more efficient tax collection, which could help close the so-called tax gap of revenue lost to noncompliance, federal officials told a congressional panel on May 9, 2019. More money invested in the Internal Revenue Service would lead to more revenue collection and improved taxpayer compliance, the…
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Precious Metals Broker Sentenced to Prison for Willfully Failing to File Tax Returns
An Atlanta precious metals broker was sentenced to 21 months in prison following his Dec. 12, 2018, conviction by a federal jury on three counts of failing to file income tax returns. Hakim has been in custody since April 12, 2019. He was arrested and jailed after he failed to appear for his original sentencing date. According…
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Former Goldman Banker Extradited to US to Face Charges
Malaysia has extradited a former Goldman Sachs banker to the United States for 10 months to face criminal charges linked to a multibillion-dollar scandal. Roger Ng has been detained in Kuala Lumpur since Nov. 1, 2018 after the US Department of Justice (DoJ) announced charges against him for allegedly laundering funds diverted from the 1Malaysia…
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