The Old IRS Phone Scam Has a New Twist
The IRS has issued a warning about a new telephone scam. In previous warnings, the IRS has said that they will not call over the phone but send notices through the mail. The scammers have caught on to this warning and now when they call, they tell the victim that they were sent two certified […]
Owner of Sneakerz Inc. Tries to be Sneaky with the IRS
James Coleman, owner of Sneakerz, Inc, who operated a sports bar in Albuquerque, NM was sentenced to 18 months in prison, three years of supervised release and ordered to pay $1,045,939 in restitution to the IRS. Coleman was charged in 2014 with a 4-count indictment for tax evasion and filing false tax returns. For the […]
Helpful Tips to Know About Gambling Winnings and Losses
Taxpayers must report all gambling winnings as income. They must be able to itemize deductions to claim any gambling losses on their tax return. Â See below for information provided directly from the IRS: Taxpayers who gamble may find these tax tips helpful: Gambling income. Income from gambling includes winnings from the lottery, horseracing and casinos. […]