Landscaper Hedges His Bet and Loses with the IRS
Joseph Ferry III, from Port Saint Lucie, FL was indicted after his arrest on five counts each of filing false corporate and individual tax returns. Ferry was the owner of Ferry Enterprises, Inc., which provided residential and commercial landscaping services. The indictment alleges that Ferry understated his personal income on his individual returns and the […]
Tax Identity Theft Still on IRS’ List of “Dirty Dozen†Tax Scams
Although tax related identity theft has dropped somewhat in recent years, the scam still made the IRS’ 2019 ‘Dirty Dozen†Tax Scams list. Taxpayers should remember that identity thieves constantly strive to find a scheme that works. Once their ruse begins to fail as taxpayers become aware of their ploys, they change tactics. Taxpayers and […]
How the Stars Avoided the 90% Tax Rate in the 1950s
In the 1950s and early 60’s, there was a 90% tax rate on taxpayers earning in the highest tax bracket of $200,000 ($1.9 million today). In order to avoid paying almost all their income to the IRS, the rich used loopholes to reduce their tax bill. But even with loopholes, the wealthiest still ended up […]