I’ve reported on Spinka before. The Grand Rabbi of Spinka, Naftali Tzi Weisz, was jailed for two years for his part in a charitable donation (but not really charitable donation) tax fraud scheme. Apparently, there’s more to investigate. A Grand Jury in Los Angeles summoned another rabbi, Moshe Zigelman, to testify. He refused, citing the [...]

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Yet another late night infomercial house has fallen into trouble. As Janet Novack on Forbes reported, “Owe The IRS? TaxMasters Bankruptcy Shows Why Not To Get Help From TV Pitchmen.” TaxMasters, like all of the late night infomercial firms, says that they can settle your tax troubles for “pennies on the dollar.” Sure they can, [...]

Hi! Starting today - March 19, 2012 - the Tax Update moves to a new Wordpress platform. All of the...

The biggest beneficiary of Iowa's film tax credit boondoggle is in for more Iowa hospitality than he hoped for. Dennis...

A nice rundown of the essential tax problems for a new business by Courtney Strutt Todd at the Davis Tax...

TaxGrrrl has some document retention tips, including: If you claim depreciation, amortization, or depletion deductions, you’ll want to keep related...

Kay Bell reports that customers of some storefront tax prep shops are actually threatening the preparers because the IRS is...

I can answer that question! $146.3 million is the additional amount of tax collections that California projected but did not receive in February. What’s worse is that the shortfall in the fiscal year-to-date is $1.3 billion. I’ve been preparing plenty of California tax returns, and those are generally coming in at lower amounts of taxes [...]

When you give out a "targeted" tax break, lots of folks hire lobbyists to put a target on their own...