Troubled Tax Preparer Suspected of 1980s Tylenol Murders, Tax Crimes Is Dead
James W. Lewis, a tax preparer suspected of the infamous 1980s Tylenol murders, died last month in Cambridge, Massachusetts. In September 1982, seven people died after ingesting Tylenol pills laced with cyanide. The now-notorious situation led Johnson & Johnson, the parent company of Tylenol manufacturer McNeil Consumer Products Company, to recall 31 million bottles of the over-the-counter medication.
Read full storyJacksonville Property Tax Notices Are In the Mail, Residents Will See Increase
Jacksonville homeowners will receive higher tax bills this year, despite there not being a tax rate increase. According to News 4 Jax, TRIM (truth in millage) are being mailed to residents starting today, Friday, August 11. This will give homeowners a first glimpse at what their property tax bills will be this year, and many taxpayers can expect an increase.
Read full storyIRS Lost Millions of Tax Records, Watchdog Report Says
According to a new watchdog report, the Internal Revenue Service (IRS) has lost millions of business and individual tax records. Politico shared details regarding the report, which alleges that the millions of misplaced tax records were supposed to be transferred from a classified facility in California and a storage facility in Utah, but seemingly never made it to their new locations.
Read full storyAfter Multi-Agency Investigation, Drug Money Launderer Sentenced to Life In Prison
A multi-agency investigation has led to the sentencing of a drug trafficker and money launderer. According to an official release from the IRS, Early Willard Woodmore III, a resident of Haskell County, Oklahoma, was the leader of a methamphetamine trafficking organization that operated in Haskell and Pittsburg Counties. Woodmore III was sentenced to life imprisonment for drug conspiracy and distribution of methamphetamine. He will also serve a concurrent 240 months in prison for money laundering conspiracy and laundering monetary instruments.
Read full storyCA Lost More Tax Income Than All Other States Combined Over Past 3 Years
New data about California's population exodus has emerged, and the state lost more tax income than all other states combined between 2020 and 2022. Earlier this year, a CNBC report shared details regarding IRS data that confirmed New York State lost $25 billion in adjusted gross income in 2021, plus an additional $20 billion in losses in 2020. Similarly, California lost $29 billion in 2021 and $18 billion in 2020. Together, the two states lost approximately $92 billion in just 24 months.
Read full storyConventions Move Out of Florida, Tax and Tourism Concerns Arise
As sizable conventions leave the Sunshine State, Florida faces tax dollar and tourism concerns. Southwest Florida news network, FOX 4, recently reported that tourism officials in Broward County, Miami-Dade County, and Orange County have confirmed that "at least a dozen national conventions" that were slated to be held in Florida have either been canceled entirely or moved to a different state.
Read full storyChiefs and Royals Could Ask For 40-Year Sales Tax Increase Extension
The Kansas City Chiefs and Royals could be asking local officials for a 40-year sales tax increase extension, according to new information. On April 5, 2006, Jackson County voters approved a 3/8 cent sales tax to go toward improvements for both the NFL and MLB teams' stadiums. Since then, the Royals have won the World Series (2015) and the Chiefs have taken home the Lombardi Trophy after Super Bowl LIV (2020) and Super Bowl LVII (2023).
Read full storyPennsylvania Expands Property Tax Rebate Program For the First Time In 17 Years
Pennsylvania has expanded its property tax and rent rebate program for the first time in 17 years. The last time the program was altered was 2006, so this is a welcome change for Pennsylvanians who have been feeling the impact of rising prices and inflation over the last couple of years.
Read full storyU.S. Navy Serviceman Indicted For Transferring Intelligence to Chinese Agent
A U.S. Navy serviceman has been indicted for allegedly transferring military intelligence to a Chinese intelligence agent. The IRS has issued an official release regarding the case. Per that document, Petty Officer Wenheng Zhao -- who regularly went by the name Thomas Zhao -- of Monterey Park, California, has been taken into custody by the FBI and the Naval Criminal Investigative Service (NCIS). Zhao is facing charges for conspiracy and receipt of a bribe by a public official.
Read full storyA Guide to Which U.S. States Don't Tax Lottery Winnings
With tonight's (August 4!) Mega Millions drawing set at $1.25 billion, many hopeful would-be lottery winners are crossing their fingers from coast to coast today. At the federal level, lottery taxes are automatically set at 25%, so one-quarter of the winnings will go to the IRS without question. In addition, lottery winnings are taxed the same as wages or salary on both federal and state levels. Federal tax brackets still apply, so portions of the winnings will be taxed at different rates, and could be as high as 37%. State and local tax rates vary from place to place.
Read full storyDefense Contractor Going to Prison For Selling Fraudulent Goods to U.S. Military
A former defense contractor is going to federal prison for selling fraudulent goods to the United States military. Timothy W. Foley, of California, was sentenced to three months in prison for his criminal activity. Foley's case was heard in the U.S. District Court in Columbus, Ohio. Foley was also ordered to pay restitution of more than $1.3 million to the U.S. Department of Defense.
Read full storyOver 500,000 Cook County Seniors Are Missing Out on Property Tax Exemptions
Over 500,000 senior citizens in Cook County, Illinois are missing out on property tax exemptions. Cook County, which includes Chicago and its surrounding suburbs, has a population of 5.17 million as of the 2020 United States census. The county is home to over 40% of all Illinois residents.
Read full storyMarried Couple Pleads Guilty to $65 Million TRICARE Fraud Scheme
A husband and wife based in Tennessee have pleaded guilty to a $65 million TRICARE fraud scheme. Jimmy and Ashley Collins, a married couple residing in Birchwood, have admitted that they participated in a health care fraud scheme that cost TRICARE – the health care program that covers United States military service members and their families – out of over $65 million in total.
Read full storyWV Lawmakers to Correct Problems With Vehicle Tax Credit
Photo byFeature Image Credit: Lady-Photo/Getty Images. West Virginia lawmakers are set to correct problems with a vehicle tax credit that officially goes into effect January 1, 2024.
Read full storyFormer Director of 1 Global Indicted For $250 Million Scam Spanning Nearly All 50 States
The former director of 1 Global Capital has been indicted for a $250 million securities fraud scam that spanned 42 states. According to an official release from the IRS, company chairman Carl R. Ruderman was involved in a "sprawling fraud scheme" that negatively impacted over 3,400 investors nationwide. Four of Ruderman's co-conspirators have already entered guilty pleas.
Read full storyMilwaukee County Board to Vote Today on Nearly Doubling Sales Tax
The Milwaukee County Board is set to vote today, July 27, on whether sales tax in the county should nearly double. The Milwaukee Journal Sentinel reported on the situation, which has led to strong opinions on both sides of the issue. The measure passed in a joint committee meeting last week but there are some key holdout votes. The remaining county supervisors have not publicly stated how they plan to vote at today's County Board meeting, and "a couple of possible swing votes" are anticipated.
Read full storyHunter Biden Set to Officially Plead Guilty to Criminal Charges
Hunter Biden is expected to officially plead guilty to criminal charges in federal court today, Wednesday, July 26. Last month, two months after the entire IRS team investigating him was pulled from the case, Biden, 53, reached a surprise tentative plea deal with authorities. This came after the entire Biden family denied any wrongdoing for years.
Read full storyChicago Gang Member Headed to Federal Prison For 50 Years
A Chicago gang member has been sentenced to 50 years in federal prison for violent crimes, including murder. According to an official release from the IRS, David Arrington, a member of the Wicked Town faction of the Traveling Vice Lords street gang, murdered two people, shot and wounded two others, and served as the getaway driver when his fellow gang members committed both murder and attempted murder. Last year, Arrington, a Chicago resident, entered a guilty plea to a federal racketeering conspiracy charge last year.
Read full storyNew Legislation Would Expand Child Tax Credit to Include Fetuses
New GOP legislation that would expand the Child Tax Credit (CTC) to include fetuses has been introduced in Congress. According to a new report about the bill, which was introduced by Representative Ashley Hinson (R-Iowa), the Providing For Life Act is designed to help parents care for their children quite literally from day one. Hinson said, “Providing for your child begins the second a woman finds out she is pregnant — from making doctor’s appointments, to stocking up on diapers, and searching for child care."
Read full storyChinese National Charged With Bribing Well-Known San Francisco Public Official Appears In Court
A Chinese national has appeared in U.S. court to face charges associated with bribing a well-known San Francisco public official. According to an official release from the IRS, Zhang Li, of Guangzhou, China, is the founder and CEO of a Chinese real estate development company. He is accused of bribing Mohammed Nuru, the former head of the San Francisco Department of Public Works. The charges were announced by First Assistant United States Attorney Patrick Robbins, Internal Revenue Service Criminal Investigation (CI) Special Agent in Charge Darren Lian, and Federal Bureau of Investigation Special Agent in Charge Robert K. Tripp.
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