Three people, including a Norwood man, were sentenced in Worcester federal district court for conspiracies to defraud the U.S. using several tax fraud schemes. Released wearing electronic monitoring devices, they are awaiting sentencing in June. All three were found guilty of participating in an "under the table" payroll scam and the use of "underground warehouse banking." Both charges are defined by conspiracy and fraud and were used to hide income and assets from the Internal Revenue Service. The Norwood man was also convicted of tax evasion.
As we close in on another tax return deadline, it's important to beware of fraud and theft schemes that strike during this time of year. We are usually more responsive and let our guard down to fraudulent inquiries during peak tax season, so be vigilant. Make sure you do not throw any personal, credit or tax information into the garbage after you file your taxes. Do not reply to any emails from the IRS with your social security number or tax information. The IRS does NOT send individual emails to consumers.
A Woburn man and his female co-conspirator were indicted in Boston's federal court Wednesday with fraud and conspiracy charges. The allegations were presented after the two were investigated by the Internal Revenue Service's Criminal Investigation Unit and the U.S. Attorney's Economic Crimes Unit. The IRS has infinite authority to investigate financial records and recommend cases for federal criminal prosecution based on their alleged tax crimes conclusions.
Boston accountants waiting for the passthru payment regulations of the U.S. Foreign Account Tax Compliance Act will have to keep waiting. Some industry experts think the Internal Revenue Service will have to postpone releasing elements of the Fatca passthru payments beyond June of this year or make them easier for institutions to understand and implement.
Tax season is upon us, which means many people are scrambling to collect their paperwork and prepare a tax return that will maximize their refund without triggering an IRS tax audit.
Innocent spouses linked to those accused of tax crimes may have an easier time proving their innocence. In a statement released last month, the Internal Revenue Service announced a change in how they will evaluate "equitable relief" cases, which are situations where spouses who signed joint tax returns (along with those convicted of tax fraud) ask to be freed of joint liability for their spouse's wrongdoing.
A Rhode Island general contractor pled guilty to two counts of tax evasion and eight counts of wire fraud earlier this week, following an investigation by agents from the FBI Boston Field Office and the Boston office of the IRS's criminal investigation division.
Very few things are able to strike fear in the hearts of American taxpayers as much as a notice from the IRS that they are being audited.
Some Massachusetts businesses that hire independent contractors may soon find themselves in hot water with the IRS.
There may be times when Boston residents make mistakes. This can be especially true when it comes to the complexities of tax law and alleged tax evasion issues. One Massachusetts pediatrician may know first-hand how serious these types of charges can be, as he was recently sentenced in federal court for several counts of tax evasion and failing to file tax returns.On Nov. 29, a U.S. District Judge sentenced the doctor to nine months of home confinement with electronic bracelet monitoring. The man was also fined $20,000. The nine months of home confinement will be part of a five-year period of supervised release, during which time the doctor is required to cooperate with the Internal Revenue Service in paying his outstanding tax obligation.