Running a business is difficult. There are a lot of things to remember, such as; payroll, ordering supplies, paying utilities and most importantly, paying your taxes. As a Massachusetts consumer, when you purchase an item in a store or order food in a restaurant, the...
Month: August 2011
IRS requires discloure of foreign bank accounts and assets (FBAR)
The IRS and federal government are concerned about the "tax gap," defined as the difference between what a particular taxpayer pays the IRS each year and what he or she should pay. Some estimates calculate the tax gap to be as much as $300 billion dollars annually....
Former CPA accused of tax evasion in Massachusetts
Let's face facts, not very many people jump up and down when it's time to pay their taxes. Every year, thousands of people pay in to the IRS, to settle any outstanding balance they may owe. However, sometimes taxpayers make mistakes on returns or neglect to file the...
Local businessmen guilty of defrauding IRS
IRS tax crimes in Massachusetts can substantially alter a person's life, and facing charges of lying to the agency can be intimidating. Possible penalties for conviction include incarceration in a federal penitentiary, criminal fines, and supervision after release...
IRS tax audit leads to revelation for financial columnist
It's very rare to meet a person who would welcome an audit from the Internal Revenue Service (IRS). In fact, the majority of people fear the idea of an audit so much, that they will do their very best to avoid such circumstances. Unfortunately, the IRS notifies a...