Tuesday, October 23, 2018

Swept Under the Rug

When new business owners set up their companies, it’s no secret that they must pay taxes to Uncle Sam. Depending upon the type of company established, businesses must pay income tax, estimated taxes, self-employment (if the company owner works for themselves), employment taxes, and...

Five Star Rating

The five star rating system is used across many industries to signify something is exceptional. We tend to think of a five star hotel as one that is posh and pricey. A five star rating on Amazon means that customers are satisfied with a...

She’s Not Smiling Anymore

Dentists specialize in smiles. (They can turn a frown upside down with a variety of options that usually cost a lot of money and are not covered by your dental insurance plan.) A Cordova, Tennessee dentist who owned two dental practices made a lot...

Waiting by the Mailbox

The old school method for receiving tax refunds used to involve waiting patiently for the mailman to drop it off in the mailbox. Today, the most efficient and safe way to receive a tax refund is via a direct deposit into your bank account....

Playing with Dynamite

TNT, another word for dynamite, is a chemical compound used mainly for demolition purposes and mining. A Danville, Virginia man, who named one of his two tax businesses using the same three letters, committed tax refund fraud which ignited the federal government’s determination to...

That’s How the Ball Bounces

Anyone who loves basketball is familiar with how the game of Horse is played. Basically, each time a player misses a shot, a letter is awarded. The first person to spell H-O-R-S-E loses. A former Virginia Commonwealth University (VCU) basketball captain played a dangerous...

Cowardly Behavior

Anyone who has seen the classic movie, “The Wizard of Oz,” is familiar with the lion’s false bravado that hid his true, cowardly disposition. While the famous fictional character is quite loveable, despite his foibles, today’s cowardly fraudster is not. An Overland Park, Kansas...

Family Enterprise

According to Entrepreneur Magazine, family businesses experience success when there is unity among family members, a mission that goes beyond financial gain, a vision, and a plan for the next generation. A woman from Grand Rapids, Michigan was the matriarch of a family tax...

Delivering More than the Mail

A U.S. postal worker in Columbus, Georgia was recently convicted by a federal jury for his part in a stolen identity tax refund conspiracy. (The fraudster worked as a mail carrier for the U.S. Postal Service (USPS), but moonlighted as an identity refund fraudster.)...

Evading Everything

Fraudsters tend to think they should receive a special exemption when it comes to paying taxes. Today’s “Fraud of the Day” reveals a Southern California businessman who evaded millions of dollars in personal and business-related taxes owed. His tax evasion tactics led to a...
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