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A businessman from High Point, NC, Michael Rowan, who provided financial services to professional athletes, including NFL players was sentenced to 65 months in prison for filing a false 2011 tax return and wire fraud. Rowan would contact prospective NFL players in college offering them financial and wealth management services.  Upon being drafted by the NFL, Rowan would offer his services for [...]

For years the IRS has warned taxpayers about the tax scam calls in which scammers pretend to be from the IRS and threaten the taxpayer with wage garnishment or imprisonment unless they pay that day by getting prepaid cards or depositing cash into bogus bank accounts. But the IRS made major revisions to the IRS code on “collections” and starting on April [...]

An employee at the IRS office in Atlanta, GA, Stephanie Parker was indicted on charges of wire fraud and aggravated identity theft. Parker has access to taxpayer’s personal information, including social security numbers and dates of birth.  It’s alleged that between September 2012 and April 2013, she used this information to file fraudulent tax returns for refunds.  Parker had the refunds deposited [...]

Robert Bertrand of NY, CFO of the Soupman, Inc, which holds the licenses to the name and recipes of the “Soup Nazi” made famous by the TV show “Seinfeld”, was indicted on 20 counts of failure to pay Medicare, Social Security, and federal income taxes. Prosecutors allege that between 2010 and 2014, Bertrand paid his employees cash on the side and did not collect or pay [...]

A ruling handed down by the U.S. Tax Court on May 11, 2017, indicated that the taxpayer in question could not blame their tax preparation software for improper deductions for alimony and interest. Barry Leonard Bulakites could be required to pay the IRS thousands of dollars in penalties and unpaid taxes as a result of errors he made when filing his taxes [...]

A recent case in North Carolina Eastern Bankruptcy Court clarified some issues regarding the ability of certain debts to be discharged in Chapter 7 bankruptcy proceedings. Ryan v. Defense Finance and Accounting Services outlines the case of a soldier who received an honorable discharge from the U.S. Army after re-enlisting for six years and accepting a re-enlistment bonus. Upon his involuntary discharge, [...]

Terry DiMartino of Newington, CT was convicted of one count of corruptly interfering with the due administration of the Internal Revenue laws, two counts of filing false tax returns and five counts of willfully failing to file tax returns. During DiMartion’s trial, evidence showed that although he was an insurance salesman, and earned millions of dollars in insurance commissions, he did not [...]