May 06
A recent report indicated that over a 10 year period approximately 1,600 Internal Revenue Service (“IRS”) employees willfully evaded their tax obligations. The wrongful activity included: failing to file timely claiming improper dependents claiming improper first-time homebuyer credits
Oct 30
The Securities and Exchange Commission (“SEC”) has been awarded a substantial win in its civil enforcement action against Samuel Wyly and Donald R. Miller, Jr. as the Independent Executor of the Will and Estate of Charles J. Wyly Jr. (the “Wylys”). The Court ordered the Wylys to pay $188 million plus pre-judgment interest associated with …
Jan 02
IRS Continues to Overpay Billions on the EITC
In accordance with Executive Order 13520, Reducing Improper Payments and Eliminating Waste in Federal Programs, Federal agencies are accountable for reducing improper payments while still providing access to beneficiaries. The IRS estimates that the participation rate under the Earned Income Tax Credit (EITC) was nearly 80 percent, but this comes at a high cost. A recent …
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