The man who runs Wings Over Ithaca has been charged with 26 counts of felony sales tax evasion. The 47-year-old Massachusetts man recently pleaded not guilty to the charges against him in Albany City Court.
Offshore Voluntary Compliance Efforts Top $10 Billion; More Than 100,000 Taxpayers Come Back into Compliance
The IRS announced today in IR-2016-137-
Who's most likely to be audited?
If there's one thing that unites Americans, even amid a highly-contentious presidential election, it's the fear of an audit by the Internal Revenue Service. Realistically, your chances of being audited are very slim and dropping. Fewer than 1 percent of filers were audited for the tax year 2013. With budget cuts, the resources available to conduct audits are becoming scarcer.
Want to travel? You may have to pay the IRS first.
Legislation quietly passed last year in Congress may prevent you from traveling abroad if you owe a significant amount of tax debt. The law, initially proposed in 2012, did not gain overwhelming support from Congress and the President until 2015. The enactment, part of H.R.22, adds "Revocation or Denial of Passports In Case of Certain Tax Delinquencies" (Section 7345) to the tax code. It grants the State Department the power to revoke, limit, or deny a passport to anyone with a considerably delinquent tax debt exceeding $50,000. That amount includes penalties and interest, which add up quickly. The IRS compiles the list of offenders and gives the State Department the green light to cancel or deny passports.
How can bankruptcy affect your employment prospects?
One of the concerns that people have about filing for bankruptcy is how it will affect their employment prospects in the future. Employers cannot legally deny people employment or advancement due to something on their credit report. However, short of an employer stating that this is the reason for their decision, that's pretty hard to prove.
New York father and son accused of sales tax theft
A father and son have been indicted for failing to pay over $1 million in sales taxes between 2011 and 2014 for the three Nassau County BP gas stations they own. They both could serve years in prison.
