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Posts tagged "Tax Controversy"

Minnesota co-op manager charged with tax crimes

Minnesota officials charged a former co-op manager of using business funds to bankroll personal expenses. The government has accused the manager of using his position within the business to gain loans from banks to pay for elaborate hunting trips, real estate purchases and other personal expenses.

Minnesota Department of Revenue accuses man of tax evasion

Tax season has come to an end and most of us have either filed our tax returns or gotten an extension. But what happens if we do not file our income tax returns? A recent case involving a local Minnesota man provides an example.

Will college admission scandal lead to charges for tax crimes?

Lori Loughlin, Felicity Huffman and dozens of others have received negative publicity for their alleged roles in a college admission scandal. The scandal involved a relatively large payment in exchange for admission to well-known universities. Yale and USC are among those implicated.

Uncle Sam wants you … to the win the lottery.

If you set your sights on winning the lottery, you may find it surprising to realize Uncle Sam is in your corner. Why would Uncle Sam want you to win the lottery? The more cynical amongst us would point to the fact that the Internal Revenue Service (IRS) wants you to win because they can get up to 37 percent of any lottery winnings in tax obligations.

Minnesota and Wisconsin pass new nexus tax law

A recent decision from the Supreme Court of the United States (SCOTUS) has changed how state’s view online transactions. In the past, the only way a state could impose a tax on sales was to essentially establish that the business had a physical presence within the state. The evolution of online transactions led to a challenge.

Lawmakers want more info from IRS on taxes for cryptocurrency

Lawmakers are calling on the Internal Revenue Service (IRS) to provide additional guidance on taxation of cryptocurrency. The House Ways Committee Chairman along with others on his committee sent a letter to the IRS to question enforcement actions taken against taxpayers holding virtual currencies.

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