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New York

Sprint loses bid to dismiss $300 million N.Y. tax fraud lawsuit

Sprint loses bid to dismiss $300 million N.Y. tax fraud lawsuit

(Reuters) – Sprint Corp must face a $300 million fraud lawsuit by New York state claiming the company deliberately failed to bill customers for taxes on its wireless services over seven years, the state’s top court ruled on Tuesday. The Court of Appeals in a 4-1 decision rejected Sprint’s claims that a 2002 state law imposing […]

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Bits ’n Pieces – GOP Obamacare dilemma hits presidential contest; LA losing $20 million a year; Rubio to Detroit; NY trying to create affordable housing; Cadillac tax plan, another perspective

Bits ’n Pieces – GOP Obamacare dilemma hits presidential contest; LA losing $20 million a year; Rubio to Detroit; NY trying to create affordable housing; Cadillac tax plan, another perspective

Republicans’ Obamacare ‘repeal and replace’ dilemma joins presidential contest. By David A. Fahrenthold and Jenna Johnson – The Washington Post. Since 2010, Republicans have pledged a legislative backflip that would please conservatives who despise the law’s every word and moderates who want to keep some of its benefits. They haven’t been able to do it. […]

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Employers in eight states and the Virgin Islands could pay higher FUTA rates in 2015

Employers in eight states and the Virgin Islands could pay higher FUTA rates in 2015

The Department of Labor (DOL) says that employers in eight states (and the Virgin Islands) may not be eligible to claim the maximum amount of state unemployment tax credits on their 2015 federal unemployment (FUTA) tax return. That’s because their state has had an outstanding federal unemployment insurance (UI) loan for at least two years. […]

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Suit Says Wells Charged Illegal Tax Fees For N.Y. Co-Op Borrowers

Suit Says Wells Charged Illegal Tax Fees For N.Y. Co-Op Borrowers

NEW YORK (Reuters) – Wells Fargo Bank has been hit with a proposed class action accusing it of improperly charging thousands of New York state borrowers for tax services when the bank extended loans for the purchase of co-op units. In a filing on Monday in a New York federal court, lawyers for the borrowers […]

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Kentucky Businessman Pleads Guilty in Manhattan Federal Court to $53 Million Tax Scheme and Massive Fraud That Involved the Bribery of Bank Officials

Kentucky Businessman Pleads Guilty in Manhattan Federal Court to $53 Million Tax Scheme and Massive Fraud That Involved the Bribery of Bank Officials

U.S. Attorney Preet Bharara for the Southern District of New York and Deputy Assistant Attorney General David A. Hubbert for the Tax Division of the Department of Justice announced that Wilbur Anthony Huff, a Kentucky businessman, pleaded guilty today in Manhattan federal court to various tax crimes that caused more than $50 million in losses […]

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United States Congressman Michael Grimm Pleads Guilty to Causing the Filing of a False and Fraudulent Tax Return

United States Congressman Michael Grimm Pleads Guilty to Causing the Filing of a False and Fraudulent Tax Return

As reported in the DOJ Press Release, on December 23, 2014, United States Congressman Michael Grimm pleaded guilty at the federal courthouse in Brooklyn, New York, to aiding and assisting the preparation of a false tax return.  Since 2011, Grimm has served as a member of the United States House of Representatives representing New York’s 11th […]

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Owner of New York Construction Companies Pleads Guilty to Tax Fraud

Owner of New York Construction Companies Pleads Guilty to Tax Fraud

Owner of New York Construction Companies Pleads Guilty to Tax Fraud, as reported by the DOJ. Eric Anderson, of Dix Hills, New York, pleaded guilty today in the U.S. District Court for the Eastern District of New York to the willful failure to collect and pay over employment taxes, the Justice Department and Internal Revenue […]

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Employers in 15 states may face higher FUTA rates in 2014

Employers in 15 states may face higher FUTA rates in 2014

We previously blogged on this twice – Employers in 17 states may face higher 2013 FUTA rates and Employers in 13 states will face higher 2013 FUTA rates. Employers in 15 states (and the Virgin Islands) may not be eligible to claim the maximum amount of state unemployment tax credits on their 2014 federal unemployment […]

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New York regulates tax preparers as U.S. IRS effort drifts

New York regulates tax preparers as U.S. IRS effort drifts

WASHINGTON (Reuters) – New York became the fourth U.S. state to regulate unlicensed tax return preparers, at a time when consumer advocates are pushing for more state oversight as a federal crackdown stalled. Nearly 80 million Americans pay someone to prepare their tax returns. While most of this work goes smoothly, some does not. Tax […]

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U.S. charges Swiss asset manager in offshore tax fraud case

U.S. charges Swiss asset manager in offshore tax fraud case

NEW YORK (Reuters) – U.S. prosecutors on Thursday announced they indicted Peter Amrein, a Swiss asset manager, on charges that he assisted U.S. taxpayers in evading millions in taxes by hiding money in offshore trusts at multiple Swiss banks. A copy of the sealed indictment is here. Prosecutors accuse Amrein, who worked at an unidentified […]

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Penny Stock Financier Agrees to Pay $1.4 Million to Settle SEC Charges

Penny Stock Financier Agrees to Pay $1.4 Million to Settle SEC Charges

As reported by the SEC, Penny Stock Financier Agrees to Pay $1.4 Million to Settle SEC Charges, the Securities and Exchange Commission charged a New York-based penny stock financier and his firms with violating the federal securities laws when they purchased billions of shares in a pair of microcap companies and failed to register them […]

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New York Gov. Cuomo aims to curb spending, cut corporate taxes

New York Gov. Cuomo aims to curb spending, cut corporate taxes

(Reuters) – New York Governor Andrew Cuomo laid out details on Tuesday of his plan for nearly $8 billion of property tax freezes and corporate tax cuts over the next five years. In presenting his $137 billion proposed budget for fiscal 2015 to lawmakers, Cuomo, a Democrat up for re-election this year, kept most spending […]

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Taxpayer failed to qualify for small reseller’s exception to UNICAP rules

Taxpayer failed to qualify for small reseller’s exception to UNICAP rules

In City Line Candy & Tobacco Corp. v. Commissioner, (2013) 141 T.C. No. 13, the Tax Court has concluded that a reseller and wholesaler of cigarettes wasn’t entitled to the small reseller’s exception to the Code Sec. 263  A uniform capitalization (UNICAP) rules because it failed to show that its average annual gross receipts – […]

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U.S. Supreme Court declines to hear online retailers tax case

U.S. Supreme Court declines to hear online retailers tax case

U.S. top court declines to hear online retailers tax case, as reported in Reuters. WASHINGTON (Reuters) – Amazon.com Inc and other online retailers with no physical presence in New York State must go on collecting sales tax after the U.S. Supreme Court on Monday declined to hear a legal challenge to the law that requires […]

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Employers in 13 states will face higher 2013 FUTA rates

Employers in 13 states will face higher 2013 FUTA rates

The U.S. Department of Labor (DOL) has issued the final list of states for which employers will not be eligible to claim the maximum amount of state unemployment tax credits on their 2013 federal unemployment (FUTA) tax return because the state has had an outstanding federal unemployment insurance (UI) loan for at least two years. […]

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Does California have worst business tax climate?

Does California have worst business tax climate?

As reported in the OC Register, Does California have worst business tax climate? California has the third-worst business tax climate in the nation because of its complicated codes and high rates, says the Tax Foundation, a Washington D.C.-based group that advocates for simplifying taxation and lower rates. New York (50th) and New Jersey (49th) were […]

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State Parole Boards Use Software to Decide Which Inmates to Release

State Parole Boards Use Software to Decide Which Inmates to Release

As reported in the WS Journal, State Parole Boards Use Software to Decide Which Inmates to Release. At the age of 13, Michael T. Murphy went into the woods near his home in rural New York with the 10-year-old boy who lived next door and stabbed him to death. Last year, having rejected Mr. Murphy’s […]

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SEC Charges Accountant for Madoff Clients for Role in Creating False Books and Records

SEC Charges Accountant for Madoff Clients for Role in Creating False Books and Records

SEC Charges Accountant for Madoff Clients for Role in Creating False Books and Records. 2013-202. The Securities and Exchange Commission charged the longtime accountant for many of Bernard Madoff’s oldest and wealthiest clients for his role in the creation of false books and records used in the massive Ponzi scheme. The SEC alleges that Paul […]

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States’ online ‘Amazon tax’ fight may land in U.S. Supreme Court -lawyers

States’ online ‘Amazon tax’ fight may land in U.S. Supreme Court -lawyers

WASHINGTON (Reuters) – Diverging high court rulings in New York and Illinois over ‘Amazon taxes’ point to a possible U.S. Supreme Court case to settle questions about the legality of states taxing online retail sales, lawyers said on Monday. With Congress failing to take action on the issue, courts have been intervening case-by-case in a […]

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New York Maintenance and Construction Company Owner Pleads Guilty in Manhattan Federal Court to Failing to Pay Payroll Taxes

New York Maintenance and Construction Company Owner Pleads Guilty in Manhattan Federal Court to Failing to Pay Payroll Taxes

As reported in the DOJ Press Release, Kathryn Keneally, Assistant Attorney General for the Justice Department’s Tax Division, announced today the guilty plea of Thomas Nastasi III, 46, of Mt. Kisco, N.Y., to one count of willful failure to pay the Internal Revenue Service (IRS) the payroll taxes of his company, Nastasi Maintenance & Construction […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney