Tax Law

Hiding assets to avoid paying taxes can come with a hefty price. A former University of Rochester professor learned that. He already paid fines totaling more than $100 million for failing to disclose income that he was keeping in Swiss…

The Internal Revenue Service has taken a considerable number of steps in the past few years to combat tax fraud and identity theft. Losses due to fraud in 2013 and 2014 totaled nearly $9 billion. These added precautions will cause…

Many taxpayers rely on electronic software or a professional tax preparer to help them complete their income tax returns. However, in order for your return to be free of errors, you still must provide the correct information. As they say,…

Most people haven’t even begun thinking about filing their 2016 tax returns yet. However, the Internal Revenue Service has already announced changes to the U.S. tax code for 2017. These won’t impact the tax returns you file this April. However,…

As Americans increasingly file their taxes online, identity theft has become a growing issue. People are stealing taxpayers’ identities, filing false returns and obtaining refunds of money not owed them (or the taxpayer). State and federal authorities, including the Internal…

The man who runs Wings Over Ithaca has been charged with 26 counts of felony sales tax evasion. The 47-year-old Massachusetts man recently pleaded not guilty to the charges against him in Albany City Court. Specifically, he’s charged with second-degree…

If there’s one thing that unites Americans, even amid a highly-contentious presidential election, it’s the fear of an audit by the Internal Revenue Service. Realistically, your chances of being audited are very slim and dropping. Fewer than 1 percent of…