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Tax Resolution Times

November 12, 2020

Protecting YOUR Income and Assets since 1991

In this issue:
Office Manager Supplies Herself With Company Cash
Did You Know?
5 Star Review
Active Tax Return Preparer? Renew your PTIN!
He Helped Millions Fight Off Viruses
Finance Director Steals over $1.5 Million
I'd Like To Hear From You
Charged! And We Don't Mean His Car!
Thank You For Your Referral

Are you or someone you know getting divorced? It's important to know what your tax obligation is before you sign those papers. Download a free copy of my book "Divorce, Taxes and The IRS".

Did You Know? 

Arkansas has so many natural disasters that in 1997 the legislature created the damaged car credit. Taxpayers can claim a sales tax credit for the purchase of a car to replace one destroyed in a natural disaster.

Office Manager Supplies Herself with Company’s Cash  

Joan Chenoweth,  office manager for a contractors supply company in Illinois, has been indicted by a grand jury for embezzlement and for filing false tax returns.
Chenoweth controlled the company’s finances and had access to the business’s credit cards and bank accounts. In addition to writing company checks to herself, she paid personal credit card bills with company credit cards, and wrote unauthorized payroll checks to herself that exceeded her salary.
She avoided detection by making false entries into the company’s accounting program and by deleting true and correct entries. During a four-year period Chenoweth stole approximately $624,152.00.  In addition to the fraud charges, she is charged with filing false income tax returns for 2014 through 2017.
If convicted, Chenoweth will be required to pay restitution and penalties, and faces up to 20 years in prison.


5 Star Review

Active Tax Return Preparer? Better Renew Your PTIN!

The Internal Revenue Service reminds the nation’s more than 780,000 active tax return preparers to start the upcoming 2021 filing season smoothly by renewing their Preparer Tax Identification Numbers (PTINs) now. All current PTINs will expire on December 31, 2020.

Anyone who prepares or helps prepare a federal tax return for compensation must have a valid PTIN from the IRS before preparing returns, and they need to include the PTIN as the identifying number on any return filed with the IRS.

He Helped Millions Fight Off Viruses Then Hid His Millions from the IRS 

John McAfee, the creator of McAfee VirusScan software, has been arrested in Spain and is awaiting extradition to the US on charges of tax evasion. He is accused of failing to file tax returns from 2014 to 2018 despite earning more than $23 million during that time.
McAfee resigned from the company that bears his name in 1994, and during the last few years derived a lucrative income from speaking engagements, consulting work, crypto-currencies and selling the rights to his life story.
To evade paying taxes, McAfee had his payments deposited into bank accounts and cryptocurrency exchange accounts in the names of nominees and concealed assets, including a yacht and real estate, by putting them in the names of others.
Last year McAfee tweeted that he hadn’t filed tax returns for eight years because, “Taxation is illegal.” He faces up to 30 years in prison.

I'd Like to Hear From You!

If you have an IRS issue, or just want to refer a friend, relative or client, we’d love to hear from you.  We can provide a no-obligation confidential consultation to help you solve your IRS problems. Call          877 4 IRS LAW today!

Finance Director Steals Over $1.5 Million from School Board -  Goes to Prison to Learn a Lesson

Laurie Wade, the financial director for the Franklin County Board of Education in Kentucky, was sentenced to 10 years in prison for money laundering and filing false tax returns.
Beginning in 2011 and continuing through 2019, Wade wrote numerous unauthorized checks from the school board account to herself and made false entries into the company’s accounting program to cover her tracks.
Simultaneously, Wade served as the treasurer of the Leestown Gospel Church and controlled its finances with little oversight. Over a period of several years, she used the Church to launder money she had stolen from the school board. She made repeated deposits into the church bank account and then wrote checks to herself, attempting to legitimize the stolen funds. It was a check from the school board for $89,100.00 deposited into the church account that first alerted the FBI to Wade’s criminal activity.


Thank You For Your Referral

I could not do this without you and your referrals! Today I thank Leonard Popowcer of Popowcer Katten Ltd.  Leonard  assists taxpayers and small businesses with taxes in Chicago, IL, and the surrounding communities and has developed an expertise in the accounting and taxation of closely-held businesses.  Call him today at 312-201-6453. 

Charged! And We Don’t Mean His Car!

Cory Beck, a senior manager in the information technology department at Tesla, the electric car maker, pled guilty to three counts of filing false tax returns after he failed to disclose more than $220,000 in income generated from selling MacBooks he stole from his employer.
Beck had access to the company’s vast array of computer products. He stole the laptops from October 2015 to March 2018.
He faces up to three years in prison and fines totaling $100,000.00 for each of the three counts he pled guilty to.


Read about IRS cases I’ve solved on my website:

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