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2 CPAs Get 20 Months For Roles In $1.3B Tax Shelter Scheme

by usoftax_admin | Oct 16, 2024 | Tax News

Two certified public accountants were each sentenced in Georgia federal court to nearly two years in prison for selling tens of millions of dollars in false tax deductions to their rich clients as part of a $1.3 billion tax fraud scheme, the U.S. Department of Justice...

3rd Par Funding Exec Admits To Racketeering In $100M Scam

by usoftax_admin | Oct 16, 2024 | Tax News

The last member of the triumvirate behind Par Funding, a cash advance company that federal prosecutors say bilked investors out of $100 million, pleaded guilty to racketeering in Pennsylvania federal court Wednesday, just weeks before he was scheduled to stand...

Utah Groups Can’t Scrap Corporate Transparency, US Says

by usoftax_admin | Oct 16, 2024 | Tax News

A Utah federal court hasn’t seen sufficient evidence to block the Corporate Transparency Act’s disclosure requirements in presentations by an off-the-grid community, an online meat market and a trade group for cattle producers that have sued over the...

Justices Won’t Review Tax Scam Co-Conspirator’s Sentence

by usoftax_admin | Oct 16, 2024 | Tax News

The U.S. Supreme Court declined to review the more than eight-year prison sentence for one of the men who conspired with a Canfield, Ohio defense attorney to perpetrate a tax refund scam that defrauded the U.S. Internal Revenue Service out of $1.3 million.

Congress Can And Must Enact A Supreme Court Ethics Code

by usoftax_admin | Oct 16, 2024 | Tax News

As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi,...

Nev. Businessman, Trump Donor Challenges $12M Tax Bill

by usoftax_admin | Oct 16, 2024 | Tax News

A Nevada businessman and major donor to former President Donald Trump challenged what the IRS claimed are more than $12 million in tax liabilities, telling the U.S. Tax Court that the agency incorrectly adjusted his rental real estate losses and other reported...
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