Shamrock shake-up; now for the slow life; Superiority complex; and other highlights of recent tax cases. Canton, Ohio: CPA Ronald DiPietro and Christos Karasarides Jr. have been convicted of tax, gambling, money laundering, conspiracy and obstruction crimes related to their illegal gambling businesses and their scheme to conceal the illicit
Individuals and businesses in parts of Washington State affected by wildfires that began on Aug. 18, 2023, now have until June 17 to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency.
Individuals and businesses in parts of California affected by severe storms and flooding that began on Jan. 21 now have until June 17 to file various federal individual and business tax returns and make tax payments. The Internal Revenue Service is offering the relief to any area designated by the
The Internal Revenue Service will accept supplemental applications for Low Income Taxpayer Clinic matching grants until April 10. The IRS awards matching grants to qualifying organizations to develop, expand or maintain an LITC. For every dollar awarded by the agency, an LITC must have a dollar of match. An LITC
The Internal Revenue Service and the Treasury Department issued answers to frequently asked questions Friday pertaining to the U.S. Department of Agriculture’s Discrimination Financial Assistance Program, which offers help to farmers, ranchers and forest landowners who experienced discrimination by the USDA in farm lending prior to 2021. The program was
The changes underway in setting global taxes are leading to confusion for many countries that authorities are trying to alleviate. On Monday, the Organization for Economic Cooperation and Development released a report on Amount B of Pillar One, aiming to provide a streamlined approach to the application of the arm’s
Repair thyself; this beauty’s a steal; oh mama; and other highlights of recent tax cases. Philadelphia: Two New Jersey owners of a South Philadelphia cheesesteak restaurant have been sentenced for a decade-long conspiracy to defraud the IRS. Nicholas Lucidonio, 57, and Anthony Lucidonio Sr., 84, were each sentenced to 20
Senate Finance Committee Democrats released a report Wednesday casting a skeptical eye on the private placement life insurance industry, claiming it functions as a tax shelter holding at least $40 billion in policies for a few thousand millionaires and billionaires. The committee staff’s investigation found that PPLI policies are actively
The Public Company Accounting Oversight Board levied sanctions and penalties Tuesday against four auditing firms, including Baker Tilly US and Mazars USA, as well as an affiliate in India of Grant Thornton and an Australian firm, SW Audit. The firms received the sanctions as part of an overall sweep that
Nela Richardson, chief economist of ADP, shares her thoughts on what’s in store economically for the year ahead, what accountants should be worried about, and why the new normal will be anything but normal. Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain