Tag: IRS

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So We Guess TurboTax is Not Really Free ,Free after all

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FTC Sues Intuit for Its Deceptive TurboTax “free” Filing Campaign

the staff of the Ridgewood blog

Ridgewood NJ, the Federal Trade Commission is taking action against Intuit Inc., the maker of the popular TurboTax tax filing software, by issuing an administrative complaint against the company for deceiving consumers with bogus advertisements pitching “free” tax filing that millions of consumers could not use. In addition, to prevent ongoing harm to consumers rushing to file their taxes, the Commission also filed a federal district court complaint asking a court to order Intuit to halt its deceptive advertising immediately.

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‘Crocodile of Wall Street’ and Her Husband Arrested for Alleged Conspiracy to Launder $4.5 Billion in Stolen Cryptocurrency

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Government Seized $3.6 Billion in Stolen Cryptocurrency Directly Linked to 2016 Hack of Virtual Currency Exchange

the staff of the Ridgewood blog

New York NY, two individuals were arrested this morning in Manhattan for an alleged conspiracy to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex, a virtual currency exchange, presently valued at approximately $4.5 billion. Thus far, law enforcement has seized over $3.6 billion in cryptocurrency linked to that hack.

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Passaic County Man Charged with Defrauding Investors of over $1 Million

employee fraud

the staff of the Ridgewood blog

Woodland Park NJ, a Passaic County, New Jersey, man was arrested today in connection with a scheme to defraud investors of over $1 million through various misrepresentations and omissions about his business operations and his background, Acting U.S. Attorney Rachael A. Honig announced.

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Lyndhurst Woman Pleads Guilty To Embezzling Money From Tour Company

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the staff of the Ridgewood blog

Lyndhurst NJ, a Lyndhurst,  woman admitted to her participation in a multi-year embezzlement scheme and to subscribing to a false personal income tax return, Acting U.S. Attorney Rachael A. Honig announced today.

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“Open Letter to Paul Vagianos “, Rocks Village of Ridgewood

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the staff of the Ridgewood blog

Ridgewood NJ, yesterdays open letter , “Open Letter to Paul Vagianos “ brought out some interesting responses and the usual allotment of crazies and a$$kissers .  Many defenders of the “feed the front lines” initiative, did not help their cause  by sounding a bit to much like the people who supported the old fashioned change only parking meters 20 years after they were obsolete .

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Woodcliff Lake Stockbroker Indicted for Tax Evasion

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the staff of the Ridgewood blog

Woodcliff Lake NJ, a Bergen County man was arrested today on four counts of tax evasion, Acting U.S. Attorney Rachael A. Honig announced.

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The Future of Cryptocurrency Is Being Decided in Biden’s Infrastructure Bill

Utah Software Engineer Mints Physical Bitcoins

the staff of the Ridgewood blog

Washington DC, terrifying thought of the day,  the Senate’s new infrastructure bill may shape the future of cryptocurrency in the US. The bill promises public spending on major projects and it proposes taxes on crypto brokers to fund the projects. There are two competing amendments, one that exempts miners, hardware manufacturers, and developers, and another that only exempts proof-of-work cryptocurrencies. The definition of brokers in the original bill was so broad that anyone involved in cryptocurrency services would have to report to the IRS information on their customers, which would be impossible for most of the industry. The vote on the rival amendments is expected to take place on Saturday.

Also recall, buy bitcoin with credit card can be found on the Paybis website.

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Congress Introduces Tax-Preparer Regulation Legislation

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James D Brown CPA

(201) 357-5228

Ridgewood NJ, Anyone preparing a tax return for compensation must have a PTIN issued by the IRS, but there are no requirements associated with obtaining a PTIN—no advance training, no continuing education, and no ethical standards to abide by. On the other hand, CPAs, enrolled agents (EAs), and attorneys have strict ethical standards, educational or testing requirements, and continuing education requirements that keep them up to date with the latest tax-law changes.

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Kickback for Under the Table Payments Lands North Haldon Employee Benefit Plan Administrator Tax Evasion Charges

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the staff of the Ridgewood blog

North Haldon NJ,  A Passaic County, New Jersey, man was arrested today for his role in a kickback tax evasion scheme related to his role as plan administrator of two union-related employee benefit plans, Acting U.S. Attorney Rachael A. Honig announced.

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The IRS is looking for Help Hacking Cryptocurrency Hardware Wallets

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the staff of the Ridgewood blog

Ridgewood NJ, Cryptocurrency can be stored on small physical drives securely, unconnected to the internet. The IRS is looking for help to break into cryptocurrency hardware wallets, according to a document posted on the agency website in March of this year. The tax collection agency is now looking for contractors to come up with solutions to hack into wallets that would be of interest to investigations. While the agency may be in possession of a hardware wallet as part of a case, they may not be able to access it without the suspect’s cooperation. The IRS is looking for tools it can reliably use in multiple cases.

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New IRS Scam Targets College Students

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by Ari Lazarus
Consumer Education Specialist, FTC

If you’re a college student, faculty, or staff member, you’re going to want to pay attention to this one. IRS imposters are sending phishing emails to people with “.edu” email addresses, saying they have information about your “tax refund payment.” What do they really want? Your personal information.

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WalletHub Study : New Jersey Has the 10th Highest Tax Rates in the Country

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the staff of the Ridgewood blog

With Tax Day looming and 74% of people disapproving of how the government has used tax dollars during the COVID-19 pandemic, WalletHub today released its 2021 Taxpayer Survey, as well as its yearly report on the States with the Highest & Lowest Tax Rates (accompanying videos included) in order to help people better understand this confusing time of year. You can find highlights from both below, followed by the full list of WalletHub’s 2021 taxpayer resources.

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Tax Filing Time Is A Good Time To Look Ahead To Next Year

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By Jim Braun

Jim Braun is president of Tri-State Retirement (www.tristateretirement.com)

Ridgewood NJ, With tax time upon us, one message we keep hearing is that you should file as early as possible.

You may recall that last year there were numerous delays in getting tax refunds after the pandemic caught everyone, including the IRS, off guard. If you have a refund coming, the sooner you file, the sooner that refund will make its way into your bank account.

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