The Senate’s top Democrat on the Finance Committee has called for an investigation by the IRS into tax advice given by two large law firms. He points to a strategy that lets wealthy clients claim Puerto Rico residency and avoid more than $100 million in U. S. taxes. The request targets opinion
The debate over how people can reduce their tax bills has shifted to a new focus. Senate Finance Committee members are now asking the IRS to dig into tax advice that may have helped wealthy clients skip over $100 million in federal taxes. The critics say the advice came from two big law firms,
Brad Birkenfeld could have stayed quiet. As a top private banker in Switzerland, he handled accounts for some of America’s wealthiest people—many of whom kept money hidden offshore to dodge taxes. Instead, he walked into a U. S. government office in 2007 and handed over details of 19, 000 secret acc
The once-popular Harrisburg Midtown Arts Center has shut its doors for good, its owners blaming city officials for deliberately sabotaging their efforts. In a Facebook post, the group called "the HMAC Family" called the closure permanent and claimed city leaders constructed a trap to force them out.
A big change this year is the new IRS form 1099-DA. For the first time, brokers have to tell both you and the government how much you earned from crypto trades. It's like what happens with stocks, but with a big difference: they don't have to tell the IRS what you paid for your crypto. That means yo
A Maryland attorney has been found guilty of a wide range of fraud that could land him in prison for almost four decades. The federal jury in Greenbelt rejected his claims and said he hid millions of dollars earned from poker, failed to pay taxes for several years, and lied to mortgage lenders ab
A former finance director at a non-profit organization has been sentenced to prison for her role in a scheme that led to the closure of an agency supporting preschool children. Sharon Killebrew, 70, was found guilty of embezzling over $1. 1 million from the Early Learning Neighborhood Collaborative
A man from Santa Monica recently faced serious consequences for running an illegal sports betting operation. Christopher King was ordered to spend nearly two years behind bars. He also had to give up $10 million and pay back $3. 8 million in taxes he avoided paying. King admitted to several crimes.
Todd Chrisley and his wife, Julie, are back in the public eye after a surprising turn of events. The former reality TV stars, known for their show, were released from federal prison. This happened after a presidential pardon. The couple had been serving time for serious charges. The Chrisleys w
On a Wednesday, the former president, Donald Trump, signed off on pardons for Todd and Julie Chrisley. This move allowed the reality TV stars to walk free from their federal prison sentences. The couple, known for their show "Chrisley Knows Best, " had been behind bars since their 2022 convictions f
