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August 24, 2010
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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?    
 
 
Form 8308 is Report of a Sale or Exchange of Certain Partnership Interests
Report the sale or exchange by a partner of all or part of a partnership interest where any money or other property received in exchange for the interest is attributable to unrealized receivables or inventory items.

 


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News about Taxation cases in Wisconsin and nationwide:

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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New Law Revamps IRS Offer In Compromise Program
WASHINGTON — Under a new federal law, taxpayers submitting new offers in compromise must make a 20 percent nonrefundable, up-front payment in many ...
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No Taxation Without Explanation

The report highlights NYC's unique tax diversity. While other large cities tend to rely primarily on just two taxes-most often property and sal...

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Taxation Terms

 


Today's Terms

Federal income tax

Definition:
The federal government levies a tax on personal income. The federal income tax provides for national programs such as defense, foreign affairs, law enforcement, and interest on the national debt.

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.

Estate and Gift Tax

Definition:
One of the oldest and most common forms of taxation is the taxation of property held by an individual at the time of their death. Such a tax can take the form, among others, of estate tax (a tax levied on the estate before any transfers). An estate tax is a charge upon the decedent's entire estate, regardless of how it is disbursed.

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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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Wisconsin Taxation Attorney

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

  • Appleton
  • Beloit
  • Burlington
  • Chippewa Falls
  • De Pere
  • Eau Claire
  • Fond Du Lac
  • Franklin
  • Green Bay
  • Janesville
  • Kenosha
  • La Crosse
  • Madison
  • Manitowoc
  • Marshfield
  • Menomonee Falls
  • Milwaukee
  • Neenah
  • New Berlin
  • Oak Creek
  • Oconomowoc
  • Oshkosh
  • Racine
  • Sheboygan
  • Stevens Point
  • Sun Prairie
  • Superior
  • Waukesha
  • Wausau
  • West Bend
  • Wisconsin Rapids
 


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