The IRS Will End Offshore Voluntary Disclosure Program This Month – Miss Out and You Could Face Jail
The Offshore Voluntary Disclosure Program, which has been in effect since March, 2009, will close September 28th. For those taxpayers who have unreported offshore accounts and assets, the programs offers a chance to pay substantially less in back taxes, interest and penalties and more importantly, to avoid criminal prosecution. The benefit of the program allows […]
Couple Finds the Purrrfect Tax Deduction
A couple operating a family business known as Columbia North East Used Parts, a junkyard, deducted the cost of cat food for a bunch of stray cats as an ordinary and necessary business expense. The junkyard would feed the cats to control the rats and snakes and other rodent issues. The IRS disallowed the deduction […]
Creator of “Fitwall†Can’t Use His Product to Scale the Fence in Prison
Douglas Brendle, of Cheyenne, WY, pled guilty in federal court on two counts of willfully failing to file his income tax returns and one count of making a fraudulent application for health care benefits. Brendle was the owner and operator of Brendle Climbing Systems, LLC which sold the “Fitwall†exercise equipment he created. In January, […]