Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters > NetSparsh - Viral Content you Love & Share

IRS Obtains More Than 100 Injunctions Against Tax Scheme Promoters

The IRS has obtained civil injunctions against more than 100 promoters of illegal tax avoidance schemes and fraudulent return preparers in an ongoing crackdown that began in 2001. Many of the injunctions, obtained in cooperation with the Department of Justice, also order the promoters to turn over client lists and to cease preparing federal income tax returns for others.

Signaling a renewed fight against tax fraud, the federal government stepped up the use of civil power four years ago. Civil injunctions have subsequently been used to stop:

1. Abusive trusts that shift assets out of a taxpayer's name but retain that taxpayer's control over the assets.

2. The misuse of "Corporation sole" laws to establish phony religious organizations.

3. Frivolous "Section 861" arguments used to evade employment taxes.

4. Claims of personal housing and living expenses as business deductions.

5. "Zero income" tax returns.

6. Abuse of the Disabled Access Credit.

7. The claim that only foreign-source income is taxable.

The IRS identifies abusive tax promoters through a variety of means, including ongoing examinations, Internet and media research or referrals from external sources such as tax professionals. If the findings of an investigation support a civil injunction, the IRS refers the case to the Department of Justice.

If the Justice Department concurs, it files suit against the promoter requesting that the court order the promoter to refrain from the fraudulent activity. Depending on the facts and circumstances of the case, the court may issue a temporary restraining order, a temporary injunction or a permanent injunction.

At present, the courts have issued injunctions against 99 abusive scheme promoters ?? 81 permanent injunctions and 18 preliminary injunctions. They have issued permanent injunctions against 17 abusive return preparers. The Justice Department has filed an additional 49 suits seeking injunction action ?? 28 against scheme promoters and 21 against return preparers.

The IRS is currently investigating more than 1,000 additional promoters for possible referral to the Justice Department and conducting individual examinations on thousands of tax scheme participants.

Richard Chapo is CEO of http://www.businesstaxrecovery.com - Obtaining tax refunds for small businesses by finding overlooked tax deductions and credits through a free tax return review.

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Motley Fool

Taxes: 10 deductions we lost
WTOL
Come January, we'll all be trying to figure out the changes to the way we file our taxes because of the Tax Cuts and Jobs Act of 2017. So, with the help of a Richmond area financial adviser, we take a look at some of the biggest deductions we are ...
Here's How Much Losing 1 Big Tax Deduction Could Cost You ...Motley Fool
Tax Reform Is Done: Here's How It Matters to YouMotley Fool
6 States That Tax the Daylights Out of the RichMotley Fool
Motley Fool
all 19 news articles »

MarketWatch

Opinion: You can minimize the tax hit when you die — with a little planning
MarketWatch
There can be a lot of taxes upon one's passing, or very little, depending on the circumstances. Q.: My brother, my mother and I are trying to figure the best way for her to leave what she has in cash for us without it being taxed too heavily. We are ...

and more »

Sioux Falls tourism group faces $220K loss amid tax mix-up
News & Observer
The organization uses taxes collected on hotel stays to lure conventions, trade shows and tourists to the city through advertisements and marketing campaigns. The lodging taxes are sent to the state revenue office, which then funnels the money back to ...

and more »

The Patriot Ledger

Fall River Wonders: What are excise taxes all about?
The Patriot Ledger
FALL RIVER – Herald News reader Ronald Bernardo asks, “We pay excise taxes on our cars every year and I've always wondered where does the term excise come from?” The term “excise,” according to Merriam-Webster, means “a tax levied on certain ...

and more »

Minneapolis Star Tribune

Jeff Johnson promises tax cuts, but that means spending cuts, too
Minneapolis Star Tribune
Jeff Johnson is offering Minnesotans an ambitious plan to cut taxes and restrain spending, aiming to put the state on a starkly different path after eight years of a Democratic governor. “Our taxes are too high in Minnesota. We're in the top 10 of many ...


Tampa Bay Times

Andrew Gillum pays extra taxes on his Tallahassee home, records show
Tampa Bay Times
During his bid for governor, Democrat Andrew Gillum has reminded voters constantly that he isn't a millionaire like some of the other candidates who sought the office. But a review of property and tax records shows that Gillum is paying extra taxes ...
GUEST EDITORIAL: The downside to Florida's low taxesThe Northwest Florida Daily News
Florida Candidate for Governor Paying Extra Taxes on HomeU.S. News & World Report

all 74 news articles »

Forbes

Limits On Future Tax Hikes To Appear On Fall Ballot In Numerous States
Forbes
RALEIGH, N.C. — As voters head to the polls in this fall's midterm elections, they'll have the opportunity to approve ballot measures that would limit or thwart future efforts to raise taxes in states from coast to coast, including North Carolina ...

and more »

Times of San Diego

Opinion: California's Regulations and Taxes Can Stifle Family Businesses
Times of San Diego
Especially important for family businesses, the law also doubled the amount exempt from estate taxes. The 40 percent death tax is a major impediment to keeping businesses from one generation to the next, especially cash-poor and land-rich family farms.


Investor's Business Daily

No, Tax Cuts Are Not Driving Deficits — It's The Spending, Stupid
Investor's Business Daily
Earlier this week, Trump's top economic advisor, Larry Kudlow, gave a talk at the Economic Club of New York in which he said that tax cuts aren't to blame for deficits. "People are quick to blame deficits on tax cuts, but I don't buy that," he said ...


The Daily Progress

OPINION: A lesson on taxes and economic development
The Daily Progress
In April the Augusta County Board of Supervisors (BOS) offered a “work session budget.” It included the South River Supervisor's pet Capital Improvement Project entitled “Lyndhurst Sewer Project.” It was listed under “Economic Development” at a cost of ...

Google News

Tax Deductions - Mr. C.P.A. Can I Deduct a Pizza? You Too Can Deduct Your Fun By Using Tax Tips

Recently, I stumbled across a concept that could change your... Read More

How to Check the Status of Your Tax Refund Online

So, you were pleasantly surprised to learn that you are... Read More

A Taxing Investment

April 15 - The most dreaded day of the year... Read More

Get Uncle Sam To Pay $36,000 For Your Childs Education!

Let's assume that you would like to begin saving for... Read More

I Havent Filed a Tax Return with IRS in Years, What Do I Do?

In elementary school, kids come up with creative excuses why... Read More

Render Unto Caesar

Once a year Canadian taxpayers are required, by law, to... Read More

Home Business Tax Tips

If you have recently started an Internet or home business,... Read More

Tax Investigation - What You Need To Do

The knock on the door from a Tax Inspector is... Read More

What Is Tax Law?

The federal tax code is complex. This complexity generally arises... Read More

Tax Deduction for Alimony Payments? - Yes!

Over 50% of marriages end in divorce in the United... Read More

Organizing Your Taxes

Does this scene sound familiar? It's April 7. You haven't... Read More

Gambling Income and Expenses - Tax Requirements

Hit a big one? With more and more gambling establishments,... Read More

IRS Statute of Limitations: Do Taxes Ever Expire?

Many Americans believe that an IRS debt is a debt... Read More

Income Tax Returns Your Accountant Should Not File

You've been feeling uneasy (perhaps even guilty) because you've failed... Read More

Surprising Truths About Tax Preparers

Choosing the right tax preparer for your business is a... Read More

Tax Trap #1 -- Waiting to Incorporate: What A Difference A Date Can Make

NOTE: This is the first in a series of 5... Read More

Need a Copy of Your Tax Return Information?

Taxpayers have two easy and convenient options for getting copies... Read More

Back To School ? Educators Deduct School Expenses

As teachers and students head back to school following a... Read More

Small Businesses Filing Amended Federal Tax Returns to Recover Money

Small Businesses Filing Amended Federal Tax Returns to... Read More

How To Get An Instant Pay Raise

As a gentleman was leaving my class recently, he wanted... Read More

Save Money on Taxes - Double Your Income Now With Tax Saving Tips on Deductions

Adding Your First Additional Stream of IncomeMost new wealth builders... Read More

How To Set Up A Tax-Saving Bookkeeping System

One of the most important, but least understood or appreciated... Read More

Small Business Tax Issues for Self-Employed Individuals

The United States is a nation of entrepreneurs. There are... Read More

Insider Guides to IRS Audits!

Ever wish that, as a business owner, you knew exactly... Read More

Need an Offshore Sales Office in a Tax Free Environment?

The 100 year old investment-banking firm of... Read More