I am not sure, if I were asked to, which one I would put my money on in this battle. While both are mammoth forces to be reckoned with, social media giant Facebook might be smarter. However, the IRS has been indomitable for decades.
According to the IRS, Facebook owes them billions – roughly $3 to $5 billion!
Scammers are currently targeting students and parents, posing as the IRS and calling to collect payment of the non-existent “Federal Student Tax.” Callers are demanding immediate payment and if refused, threaten to report the student to the police. As this is merely an attempt to separate you from your money, your best response is to hang up. There is no such tax, and the IRS does not utilize such collection methods.
SwissInfo reports the incredible story of Sergei Pugachev, who was called at one time “Putin’s Banker.” But the Russian President wants back $2 billion Russian government dollars that Pugachev allegedly pocketed that was meant to save a failing Russian bank. France will not extradite him.
U.S. Title Insurers Required to Identify High-End Cash Buyers in Six Major Metropolitan Areas
The Financial Crimes Enforcement Network (FinCEN) today announced Geographic Targeting Orders (GTO) that will temporarily require U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential real estate in six major metropolitan areas.
Two U.S. citizens and a Canadian citizen have pleaded guilty for their roles in a $9 million sweepstakes fraud scheme to defraud hundreds of U.S. residents, many of them elderly, announced Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division and U.S. Attorney Jill Westmoreland Rose of the Western District of North Carolina.
The IRS, the states, and the tax industry, are committed to protecting you from identity theft. They have strengthened their partnership to fight the criminals and to devote themselves to serving you. Working together, they have made many changes and are making good progress to combat identity theft. The IRS has substantially reduced fraudulent returns and identity theft in the past two years.
If the mass murder in Orlando last month was not tragic enough, another group of criminals are now reaching out to make an unthinkable situation even more heinous.
If you are considering donating money to a charitable organization to help the families of the Orlando Pulse victims, think twice before you give. There will be scam artists calling and reaching out in a variety of ways looking to take advantage of the heartbroken people around the country who want to help in some way.
There is something about old doors and entryways that fascinate me! Maybe it is the mystery of what lies beyond, the unknown, the thrill of opening closed doors to discover new places, new feelings, new people. But it is not as simple as that anymore, is it? These are different and more difficult times we live in now, I guess!
We could go down a very deep, philosophical route examining what Identity is, but we have to limit our discussion here to what Identity is in a digital age. And we all know how that ties into our finances!
We also know of all the hacks trying to get in on that precious information.
This article is part 2 of a three-part series which discusses how to determine the amount of the loss for personal use and income producing property, amount deductible, and tax year for the deduction (part 1 can be found here). We will discuss gains, including deferring the gain for income producing property by purchasing replacement property-qualifying property, time period for replacement, realized and recognized gain, and basis of new property in the final installment.
The House Financial Services Committee on Monday released a staff report of its investigation into the U.S. Department of Justice’s decision not to prosecute HSBC or any of its executives or employees for serious violations of U.S. anti-money laundering laws and related offenses.
The U.S. Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the Middle District of Florida entered a final Judgment on June 28, 2016. Defendants Dorian Garcia and his companies, DG Wealth Management (DG Wealth), Macroquantum Capital LLC,UKUSA Currency Fund, and DG Wealth’s successor, Quanttra LP, all of Naples, Florida, are jointly ordered to pay restitution totaling $5,051,052 to defrauded investors victimized in a Ponzi scheme they operated from 2010 to 2015. The Judgment also requires the Defendants jointly to pay a $7.5 million civil monetary penalty and to disgorge $4,948,571 in ill-gotten gains.
As a precautionary step to protect taxpayers, the Internal Revenue Service announced 23 June 2016 that the electronic filing PIN tool is no longer available on IRS.gov or by toll-free following additional questionable activity.
Webinar: Introduction To R&D & Form 6765
Retained Tax Executive Search Services: When You Need An Expert On A Tax Executive Search For Your Organization
Certificates Of Discharge From IRS Liens
IRS Independent Office Of Appeals Forms Alternative Dispute Resolution Program Management Office
IRS Shifting More Attention Onto High Income Earners, Partnerships And Large Corporations Following Passage Of Inflation Reduction Act Funding
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