Tax Watch: Dentist drilled, gets an unlikely sentence
A federal judge in Michigan has sentenced a dentist to 27 months in prison for evading taxes on…
Tax Watch: Exchange profits by trading places
The Chicago Mercantile Exchange has completed its transformation from a non-profit organization owned by members to a for-profit,…
TAX WATCH: Christian school loses bond tax exemption
The issuance of tax-exempt bonds to finance a project at a sectarian school was recently ruled unconstitutional. Naturally,…
TAX WATCH: Abusive-trust crackdown gets 28 convictions
The crackdown on abusive-trust schemes by the Internal Revenue Service’s criminal investigation division and the U.S. Justice Department…
TAX WATCH: Zero tax bill: Talk about corporate welfare!
Many corporations achieved everyone’s April 15 goal. Despite earning billions of dollars, some of the largest U.S. companies…
TAX WATCH: IRS trust-scam crackdown sends many to jail
An Internal Revenue Service crackdown on illegal foreign and domestic trusts is sending record numbers of promoters and…
TAX WATCH: IRS gets more budget but not for collection
House and Senate lawmakers have agreed to supplement the fiscal 2001 Internal Revenue Service budget by $220 million.
TAX WATCH: Buying into funds? Check those distributions
Tax law requires capital gains distributions when a fund sells a stock at a gain. If the fund…
TAX WATCH: Three choices for treating commissions
Effective Oct. 2, Revenue Procedure 2000-38 provides guidance on three accounting methods that mutual fund distributors may use…
TAX WATCH: Annuity owners can offset now, pay later
The Internal Revenue Service recently ruled that the owners of single-premium annuity contracts could offset their annuity income…