IRS Plans Back-Taxes Crackdown on 1.6K Millionaires
The IRS announced Friday it is launching an effort to aggressively pursue 1,600 millionaires and 75 large business partnerships that owe hundreds of millions of dollars in past due taxes.
IRS Pledges More Audits of Wealthy, Better Customer Service
The IRS released details Thursday on how it plans to use an infusion of $80 billion for improved operations, pledging to invest in new technology, hire more customer service representatives and expand its ability to audit high-wealth taxpayers.
No Salary? No Problem. CT Governor Earns $26M Over 3 Years
Democratic Connecticut Gov. Ned Lamont’s gross adjusted income for three of his four years in office totaled nearly $26 million, according to tax records released Thursday in a gubernatorial rematch between two wealthy candidates.
Small Businesses Face Tax Headaches on Top of Pandemic Woes
Small businesses that have been buffeted by the pandemic, inflation and shipping woes have another challenge to add to their plate: taxes.
Industry Groups Continue Campaign Against Proposed IRS Reporting
An aggressive industry campaign against a Biden administration proposal to report bank account information to the Internal Revenue Service continued on Thursday as more than 100 trade groups and other organizations sent a joint letter to congressional leaders voicing opposition to the proposal.
New Milford Contractor Sentenced to 18 Months for Tax Evasion
A New Milford businessman was sentenced in federal court last week for tax evasion.
Pizzeria Owner Pleads Guilty to Withholding Federal Taxes
A Connecticut pizzeria owner has pleaded guilty to withholding more than $100,000 in taxes to the IRS.
Borrowers Fake Income, Employment to Buy Homes
Prices are up, interest rates are rising and it’s tough for a lot of people to qualify to buy a home. So what do some of them do? A growing number of them fake it.
Hope Is on the Horizon for Homebuyers in Gig Economy
Here’s some promising news for self-employed entrepreneurs, “gig” economy workers and small business owners: There’s a bipartisan push underway on Capitol Hill to make the home mortgage process a lot easier
Former Hartford Police Officer Sentenced 18 Months for Filing False Tax Returns
A former Hartford police officer will spend time in federal prison for filing a false federal income tax return in 2008.
Landscaper Imprisoned for Failing to Pay More Than $66K in Taxes
A man from Orange has been sentenced to prison for failing to pay employment taxes.
‘Tax Transcript’ Program Doesn’t Shield Borrowers’ Data
In an era of unceasing horror stories about breaches of sensitive consumer information, here’s some disquieting news for homebuyers: Federal auditors say the popular “tax transcript” program run by the IRS and used by millions of mortgage applicants a year lacks adequate security protections against disclosures of tax-return details to people who shouldn’t be allowed to obtain them.
Tax Preparer Pleads Guilty to Falsifying Returns
A Waterbury man who ran a business preparing tax returns falsified information on his clients returns and netted more than $400,000 in unreported income.
Taxpayers Get Good News on HELOCs
It’s official: Despite widespread fears to the contrary, the IRS has clarified that last year’s big tax bill did not kill all interest deductions on home equity lines of credit (HELOCs) and equity loans.
Sports Gaming Website Owner Sentenced to Prison for Tax Evasion
A Norwalk man was sentenced to six months in prison for tax evasion and has been ordered to pay a $50,000 fine.
Stratford Tax Preparer Pleads Guilty To Filing False Returns
A Stratford tax preparer recently waived his right to be indicted and pleaded guilty to preparing false federal income tax returns.
Stamford Dentist Imprisoned For Defrauding Insurance Companies
A Stamford dentist was recently sentenced to one year in prison for defrauding insurance companies.
Woman Admits To Defrauding More Than 500 People Through IRS Scam
A Bristol woman recently pleaded guilty to participating in an IRS impersonation scam.
Former Windsor Resident Indicted For Filing False Tax Return For $255K Refund
A former Windsor resident has been charged by indictment with one count of filing a false tax return and one count of obstructing the administration of federal tax laws.
Former Easton Resident Sentenced To 9 Years In Prison For Mortgage Scheme
A man who defrauded dozens of distressed Connecticut homeowners was recently sentenced to nine years in federal prison.
