Monthly Archives: November 2013
Did the IRS send mistakenly Send Refunds to Identity Thieves? According to a recent Treasury report, the Internal Revenue Service distributed more than $4 billion in falsified refunds last year with some of the money going to addresses in foreign countries such as Ireland, Bulgaria and Lithuania. The IRS sent 343 refunds to a single address in Shanghai and a total of 655 tax refunds to a lone address in Lithuania. In the United States, the cities of Miami, Atlanta, Detroit, Chicago and Houston were the locations receiving the most fraudulent refunds, with Miami topping the list. J. Russell George, the … Click to Read More
A court ruling from December of 2012 could result in many small business investors in California owing large sums of money in back taxes from a practice now deemed unconstitutional. Five years ago many small business investors in California were promised a tax break. The investors were told that if they invested in specific types of businesses, they would receive a large tax deduction. Now these same investors are being told that they could receive tax bills that for up to $250,000 for deductions that were granted under tax laws that were on the books at the time the investments … Click to Read More