Last September, Laguna Beach resident Stephen McDow found $110,000 deposited in his bank account, courtesy of the IRS. That same deposit has now landed him in hot water, according to CBS Los Angeles. McDow was subsequently arrested and charged with one felony of grand theft by misappropriation of lost property. He reportedly faces four years imprisonment and is currently being held on bail for the exact amount he first received: $110,000.Read more »
Thousands of Americans are searching online for how to sell each other out, thanks to an IRS Whistleblower Program that awards a generous amount of the seized tax booty to the snitch. Also, Congress is considering denying passports to anyone suspected of owing taxes.Read more »
A well-made End the Fed cartoon. A bit corny at times, but the statism is kept to a minimum for the most part. 30 minutes long, spread it around.Read more »
Banks get accused and charged with fraud when they charge fees and interest in a voluntary contract. The IRS gets away with it without consent and uses the threat of force to extract the money. Which is worse?Read more »
In a legal showdown with the IRS, the Miccosukees say their members don't owe any taxes on income they receive from the tribe's gambling operation -- a stance that sets them apart from possibly every Indian tribe with casinos in the United States.Read more »
An Internal Revenue Service agent was found liable for back taxes and penalties for not reporting income on nearly 2,000 transactions on EBay Inc., the online auction site, according to the U.S. Tax Court.Read more »
A northern Indiana man whose wife committed suicide three days after Internal Revenue Service agents raided their home is suing the U.S. government for wrongful death. Denise Simon and her 10-year-old daughter were the only ones home when about 10 armed IRS agents raided their residence on Nov. 6, 2007.Read more »
The IRS is wasting money chasing money we shouldn't be paying anyway!Read more »
It was every businessperson's nightmare.
Arriving at Harv's Metro Car Wash in midtown Wednesday afternoon were two dark-suited IRS agents demanding payment of delinquent taxes. "They were deadly serious, very aggressive, very condescending," says Harv's owner, Aaron Zeff.
The really odd part of this: The letter that was hand-delivered to Zeff's on-site manager showed the amount of money owed to the feds was ... 4 cents.Read more »
Internet sellers who don't report their sales will no longer be under the radar. Starting next year, any bank or other payment settlement company that processes credit cards, debit cards, and electronic payments such as PayPal will have to issue information returns telling the IRS what merchants receive. The new returns are Form 1099-K, Merchant Card and Third-Party Payments.Read more »
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