Tuesday, October 27, 2020

Hangry

There are some things that are ok to skim – like news headlines, a rock across a lake, or a layer of fat if you’re frying ground beef for tacos. It’s NOT ok to skim cash from your company’s sales receipts. In today’s tax fraud...

A Different Kind of Bank Robber

Not all bank robbers wear a black ski mask and enter through the front doors toting a firearm. Some operate smugly from within the walls of a financial institution, concealing that they are diligently transferring funds to bank accounts they manage. Today’s fraudster is a former...

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.)...

Engineering Fraud

Criminals go to great lengths to engineer fraud schemes that are undetectable. The owner of a Honolulu, Hawaii-based engineering services firm and his accountant carried out what they thought to be a well-designed plan to divert money that was intended for federal employment and income taxes...

Off to Prison She Goes

The U.S. Tax Code is complicated, so it’s easy to understand how some individual taxpayers may inadvertently fail to comply with the tax law as defined by the IRS. (That’s why many people run to the nearest tax preparer to dump several inches of financial paperwork...

Cheating with Cheddar

Warning to all readers: this blog post is cheesy. Today’s fraudster used all types of cheese plus lettuce, tomato, hot peppers, olives, pickles and deli meat to commit more than half a million dollars in tax fraud. (It’s possible that you may crave a sub sandwich...

Unpaid Taxes Sends CEO to Prison

The saying, “Nothing is certain except for death and taxes,” is an undisputed truth recognized by nearly everyone. If you owe money to the IRS, they may work with you on late filing or to create a payment schedule, but make no mistake, they...

From the Gridiron to the Chain Gang

From gridiron star to businessman to prison inmate. That is the unlikely journey of a former Florida State University (FSU) football standout who was indicted on federal charges of filing false tax returns through his tax-preparation business. Kenneth Alexander, a starting linebacker...

No Matter How You Slice It

According to the 2018 Pizza Power Report, the U.S. pizza market is worth $45.1 billion, with about $18.5 billion in revenue coming from independent operators. (As you might guess, competition is steep between the 75,243 pizzerias located across the nation.) The report also mentions that in 2017,...

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...
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