Now that the Tax Cuts and Jobs Act is fully in effect, let's take a look at some common tax problems you may be facing as a contractor or "gig economy" worker.
When the government accuses you of a crime, sometimes it seizes any and all property it believes is tied to that crime. This process is called "civil asset forfeiture." When money and assets are seized, it becomes the taxpayer's burden to prove that they were not involved in or the proceeds of criminal activity -- and that can be hard to do.
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.
Tax fraud may seem like a crime committed in other parts of the country, a crime the Internal Revenue Service (IRS) investigates in New York or California. Allegations are present throughout the country, even here in Minnesota.
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.
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.
Tax season is upon us. While going through your tax filings you may wonder when you need additional help. In some cases, an accountant is sufficient. In others, you may benefit from the counsel of an attorney.
Fraud against the Internal Revenue Service (IRS) can come with serious penalties. A couple of recent cases provide examples:
Think taxes are difficult? The 2018 tax season may be the most difficult of all — particularly for Minnesotan taxpayers.
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.