Recent Updates
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Manhattan lawyer faces 45 days jail for tax evasion
Lawyer News 01/08/2007A lawyer who avoided paying income taxes for almost 25 years will spend 45 days in jail and pay $1.5 million after pleading guilty to failing to file tax returns, prosecutors said Monday.Francis K. Decker Jr., who specialized in defending tobacco com...
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Many Happy Returns: Tax Filing Season Begins
Lawyer News 01/04/2007The Internal Revenue Service began its 2007 filing system with instructions on how to apply for newly enacted tax breaks and recommendations that more taxpayers give up paper and file electronically. The agency said that it will send out 17 million t...
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Installment Agreement Fee Increases for Taxpayers
Lawyer News 01/03/2007WASHINGTON – Beginning Jan. 1, 2007, the Internal Revenue Service will implement revised user fees for installment agreements. For eligible individuals with income at or below certain levels, the fee for entering new agreements will not increase bu...
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Texas smokers hit with new excise tax
Lawyer News 01/01/2007Texas smokers will pay considerably more for cigarettes beginning today as a new excise tax takes effect. The state Legislature approved the measure in May in an effort to pressure smokers to quit and to allow a break on property taxes. The tax will ...
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IRS warns of e-mail scams
Lawyer News 12/29/2006Iowans are being warned about stepped up scams in email that may look like they're from the Internal Revenue Service. IRS spokesman Christopher Miller says the schemes have been around for months but they've picked up again in recent weeks.Miller say...
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Podiatrist to appeal tax conviction
Lawyer News 12/28/2006A podiatrist is appealing his federal-court conviction and two-year prison sentence for tax evasion, but a federal judge says the doctor must still report to prison on Jan. 5. Dr. Clifford B. Marston of Gassville operated Sunshine Foot Clinics at Mou...
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Tax Law Changes to Affect People Giving to Charity
Lawyer News 12/19/2006WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law changes made last summer by the Pension Protection Act.The new law offers older owners of individual retirement accounts a new way...
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No Change in Interest Rates for the 2007
Lawyer News 12/13/2006The Internal Revenue Service today announced there will be no change in the interest rates for the calendar quarter beginning January 1, 2007. The interest rates are as follows: - eight (8) percent for overpayments [seven (7) percent in t...
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CA accountant barred from operating tax scheme
Lawyer News 12/09/2006[##_1L|1177299369.jpg|width="180" height="142" alt=""|_##]WASHINGTON – A federal judge in Los Angeles has permanently barred Stephen Drake of Prescott, Ariz., and Kenneth Sorenson of Buellton, Calif., from promoting or operating an alleged tax frau...
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Fla. Court Shuts Down Promotion of Tax Schemes
Lawyer News 11/22/2006A federal court in Tampa, Fla. has permanently barred David Marvin Swanson of Sarasota from promoting an illegal tax fraud scheme that involves sham trusts and limited liability companies, the Justice Department announced today. The court found that ...
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2007 Changes Widen Tax Brackets, Expand Benefits
Lawyer News 11/09/2006WASHINGTON — Personal exemptions and standard deductions will rise, tax brackets will widen and income limits for IRAs will increase in 2007, thanks to inflation adjustments announced today by the Internal Revenue Service.By law, the dollar amounts...