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January 30, 2012
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Taxation Legal News

 


Lake Worth Tax Return Preparer Convicted On Tax Fraud, Contempt Charges

Following a five-week trial, a federal jury in West Palm Beach has found defendant Louis Wayne Ratfield, a Lake Worth, Fla., tax return preparer, guilty on 50 charges against him in connection with his participation in a tax fraud scheme to hide income and assets in bogus trusts, Eileen J. O’Connor, Assistant Attorney General for the Justice Department’s Tax Division, R. Alexander Acosta, U.S. Attorney for the Southern District of Florida, and Michael Yasofsky, Jr., Special Agent in Charge, Internal Revenue Service (IRS), Criminal Investigation Division announced today.

On April 13, 2006, a 56-count indictment was returned charging Ratfield with preparing for clients and himself fraudulent federal individual and trust income tax returns, corruptly impeding the enforcement of the tax laws and criminal contempt. Prior to trial, the government dismissed five of those counts. The indictment alleged, and evidence offered at trial established, that Ratfield operated a tax preparation business, LWR Accounting and Tax Service, which was later called LWR Financial Services Trust. The businesses were located in Lake Worth where Ratfield also resided. Read more at usdoj.gov.

 

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Did You Know?    
 
 
Corporate Reorganizations; Transfers of Assets or Stock Following a Reorganization
These proposed regulations address the effect of transfers of the assets or the stock of parties to a reorganization pursuant to transactions intended to qualify as reorganizations within the meaning of section 368(a) of the Internal Revenue Code. REG-130863-04. Published August 17, 2004.

 


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News about Taxation cases in Denver and nationwide:

Two Men Convicted Of Conspiracy, Fraud, Money Laundering And Tax Charges
R. Alexander Acosta, United States Attorney for the Southern District of Florida, Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of I...
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Late Tax Scam Discovered; Free File Users Reminded To Use IRS.gov
The Internal Revenue Service learned late Friday of a new tax scam on the Internet that lures taxpayers into filing tax information on a site masqu...
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Electronically Filed Returns Up More Than 5 Percent
The Internal Revenue Service announced today that taxpayers are continuing to electronically file their tax returns at a record pace, up more than ...
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Taxation Terms

 


Today's Terms

Work Opportunity Credit and Welfare-to-Work Credit

Definition:
The work opportunity credit and the welfare-to-work credit are scheduled to expire for wages paid to individuals who began working for you after 2003.

Gross income

Definition:
Money, goods, services, and property a person receives that must be reported on a tax return. Includes unemployment compensation and certain scholarships. It does not include welfare benefits and nontaxable Social Security benefits.

Meal Expense Deduction

Definition:
Generally, you can deduct only 50% of your business-re-lated meal expenses while traveling away from your tax home for business purposes. Also, you can generally de­duct only 50% of certain reimbursements you make to your employees for meal expenses they incur while traveling away from home on business.

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Tax Legal Resources

 


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Taxation Hot Topics

 
Topics Related to Taxation Law:
  • Income Tax Cases
  • Recent Estate & Gift Tax Cases
  • Recent Income Tax Cases
  • State Statutes Dealing with Taxation

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Denver Taxation Attorney

 
If you live in the following cities and need an taxation attorney you should contact our Taxation Attorney as soon as possible:

  • Arvada
  • Aurora
  • Boulder
  • Brighton
  • Broomfield
  • Canon City
  • Castle Rock
  • Colorado Springs
  • Commerce City
  • Denver
  • Durango
  • Englewood
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  • Grand Junction
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  • Lafayette
  • Littleton
  • Longmont
  • Louisville
  • Loveland
  • Montrose
  • Parker
  • Pueblo
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  • Wheat Ridge
 


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