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President of United Auto Workers Union Driven to Crime

Gary Jones, the former president of the international United Auto Workers union pleaded guilty to conspiring to embezzle one million dollars of UAW dues money, to racketeering and to evading taxes. Jones admitted to conspiring with at least six other…

October 07, 2021

Which Tax Records to Keep and For How Long. Do This And Avoid Tax Problems Later.

Whether you are expecting a nice tax refund or preparing to write a big scary check, you know that April 15th is the annual tax filing deadline. What you may not know, however, is that tax day is every day…

September 22, 2021

Quarterly Estimated Tax: What Happens if I Miss A Payment?

Estimated tax payments are due 4 times a year, averaging between every two to four months. Sometimes, that can get confusing. You’ll need to pay on April 15, then two months later on June 15, three months later on September…

March 19, 2021

From Prison to Paying a Fine for Tax Fraud

Lionel Andres Messi has won six Ballon d’Or awards, 33 trophies, named the FIFA world player for five years. Is an endorser of multi-billion companies such as Adidas, Pepsi-Cola, Procter & Gamble, the Kuwait Food Company, and food giant Danone…

March 12, 2021

Avoid These 5 Common Tax Filing Mistakes That Can Get You in Tax Trouble

Whether you file the simple 1040EZ or a complex 1040 and a raft of schedules, making a mistake on your tax form could lead to big tax trouble. Something as simple as a math error or unsigned form could invite…

October 09, 2020

why-doing-your-own-business-taxes-or-resolving-your-own-tax-problem-is-a-terrible-idea

Why Doing Your Own Business Taxes or Resolving Your Own Tax Problem is a Terrible Idea

Running your own business means wearing a lot of hats, from office cleaner and supplies buyer to client schmoozer and payroll maker. But should you add tax preparer to your already long list of duties? What if you have a…

January 06, 2020

failure-to-file-penalties-upheld-against-a-corporate-taxpayer

Failure to File Penalties Upheld Against a Corporate Taxpayer

In a recent case, a corporation learned that it did not file its federal Form 941 employment tax returns for 2010 through 2013 or paid the related liability. The corporation said that it first learned of this issue when it…

May 06, 2019

business-meals-for-entertainment-purposes-are-still-deductible-under-the-new-law

Business Meals for Entertainment Purposes are Still Deductible Under the New Law

The IRS recently clarified that the new tax law does allow you to deduct business meals for entertaining clients under the new tax law provided that certain rules are met. Before this clarification, most businesses believed that the 50% deduction…

March 18, 2019

court-grants-partial-innocent-spouse-relief-to-ex-wife

Court Grants Partial Innocent Spouse Relief to Ex-Wife

In a recent case, the ex-wife brought suit against the IRS claiming that she was an innocent spouse related to her tax liability for 2009.  During that year, the husband operated an air conditioning business.  Although the wife was listed…

December 02, 2018

restaurant-owners-hiding-receipts

Restaurant Owners Charged With Hiding Cash Receipts

Owners of a popular River Grove, Illinois Italian restaurant were recently charged with tax evasion after not reporting hundreds of thousands in cash receipts. According to a report in the Chicago Tribune, the father and son owners of Da Luciano…

January 10, 2018

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