1. Fraudulent Tax Shelters - KMPG Goes Down Hard
September 03, 2005


In the largest criminal tax case ever filed, KMPG has copped a plea to using fraudulent tax shelters to bilk the government out of 2.5 billion dollars. KMPG has agreed to pay a fine of $456 million dollars, but nine of its executives still are under indictment. Son of Boss Tax Shelters From 1996 to 2003, KMPG promoted a tax strategy known as the Son of Boss. This shelter was used to create phony tax losses that could be claimed by wealth individuals looking to write off tens of millions of dollars. KMPG promoted the structure despite the fact it’s own internal tax attorneys warned the st... (read more)

Author: Richard A. Chapo | Article Views: 1142

2. Victims of Hurricane Katrina - IRS Gives Tax Relief
September 03, 2005


In response to the devastation along the Gulf Coast, the IRS is giving tax relief to victims of Hurricane Katrina. The following steps are expected to be expanded upon in the next few weeks. The IRS seems to realize it is hard to file your taxes if your home or business is gone. Tax Relief – A Small Step The Commissioner of the IRS has issued orders extending all tax filing requirements for victims of Hurricane Katrina till October 31st. The IRS is also waiving all interest and late filing penalties that would otherwise apply. As the extent of the damage becomes clear, the Commissioner ... (read more)

Author: Richard A. Chapo | Article Views: 1033

3. How To Avoid Scam Artist When Donating To Katrina Relief Efforts
September 01, 2005


The pictures and videos of the devastation caused by Hurricane Katrina are sadly stunning. As is true for our great nation, millions are lining up to donate to help those that have been impacted. While your actions are a shining example of the best traits of people, a few unsavory groups are trying to make a profit off of the tragedy. Scam Artists You can avoid these scam artists by taking a few simple steps. Charitable organizations rely on tax-deductible contributions as their primary funding source. Before an organization can offer the benefit of a tax deduction for donations, it must... (read more)

Author: Richard A. Chapo | Article Views: 1040

4. Advertising and Community Relations -- Get the Best of Both Worlds
August 30, 2005


Have you ever noticed that in communities without big universities, high school sports take on an even bigger importance? That's what it's like where I live. But like everywhere else in the country, our high school sports are always looking for ways to make a few extra bucks. Enter the high school baseball sponsorship program. For a nominal fee (really nominal) businesses can display a banner around the baseball field for the season. To me, this is a perfect example of a win-win situation for everyone. Businesses get to advertise to parents (who are currently purchasing adult pr... (read more)

Author: Michele Pariza Wacek | Article Views: 1056