The IRS Digs up Dirt on Excavating Business Owner
Michael Collins, of McClelland, IA pled guilty in Federal Court to charges of tax evasion in December, 2017. From 2006 to the present, Collins owned and operated an excavating and trucking company earning over $5.5 million in gross receipts. In order to avoid paying taxes, Collins registered the business and bank accounts in the names […]
Business Owner Fails to Pay Employment Taxes
Steve Lopez, owner of two businesses in West Virginia, pled guilty in Federal Court to charges of failing to pay employment taxes. From 2008 to 2012, Lopez owned Ready Transport Services, a taxi service company as well as RTS Ice Cream, Coffee and Candy Shop. Although Lopez withheld social security, Medicare and income taxes from […]
Tax Identity Theft Isn’t Limited to Individual Returns
The Internal Revenue Service issued a bulletin in December 2017 warning small businesses to be vigilant against a growing number of tax identity thefts against employers. It was noted that the IRS saw a large increase in the number of fraudulent forms 1120, 1120S and 1041 as well as Schedules K-1, as well as partnership, […]