Jeff Stimpson

1 week ago | accountingtoday.com | Jeff Stimpson

Pardon us; no relief in sight; down on the farm;and other highlights of recent tax cases. San Francisco: Winery co-owner Brian Fleury, 64, of Napa County, California, has pleaded guilty to aiding and assisting the preparation of a false return. Fleury and his spouse owned the winery Metropolitan Wines and several vineyards in Napa Valley. For tax years 2014 through 2018, Fleury underreported Metropolitan's income to his tax preparer.

1 week ago | accountingtoday.com | Jeff Stimpson

SALT and the bill;digital taxes worldwide; retaining clients;and other highlights from our favorite tax bloggers. Beautiful noise Trout CPA (https://www.troutcpa.com/blog): What Big Beautiful, now on to the Senate, looked like after its squeaker vote. CLA (https://www.claconnect.com/en/resources?pageNum=0): Thirteen potential tax changes spelled out. Taxbuzz (https://www.taxbuzz.com/blog): Republicans are united, some Democrats steadfast in opposition.

1 week ago | accountingtoday.com | Jeff Stimpson

Book'im; out of Service; what a pill; and other highlights of recent tax cases. Greenbelt, Maryland: Jerome Brown, of Detroit, has been sentenced to five years in prison for laundering money stolen from federal and North Carolina state refunds. In his guilty plea in 2022, Brown acknowledged that from February through August 2020 he conspired with individuals in Nigeria and Michigan to launder wire-fraud money.

1 week ago | accountingtoday.com | Jeff Stimpson

The Internal Revenue Service makes paid preparers who submit a return that claims the Earned Income Tax Credit, the American Opportunity Tax Credit and others (and one filing status) perform documented due diligence. Preparers don't seem to mind, though they do freely acknowledge that the fees for non-compliance can snowball fast. Are clients as accepting about the added work, time and fees? Not always.

2 weeks ago | fa-mag.com | Jeff Stimpson

Clients in deep individual tax debt to the IRS now have a retooled payment option—if they qualify and know the pitfalls. The IRS Simple Installment Agreement (IA) has replaced the agency’s Streamlined IA with, among other features, a longer time to pay past-due taxes, interest and penalties. The agency claims that Simple payment plans will make the criteria “more flexible and accessible” for taxpayers who owe up to $50,000 in an assessed balance.