The criminal tax conviction of a New Jersey couple (the DeMuros) for failure to pay payroll taxes to the IRS was affirmed by the Third Circuit Court of Appeals, United States v. DeMuro (3d Cir. 2012). The willful failure to pay payroll taxes is a violation Internal Revenue Code (IRC) Section 7202, and is punishable by up to five years in prison. Of course the willful failure by a responsible officer to pay trust fund taxes is also a violation of IRC Section 6672, and will result in a trust fund recovery penalty (TFRP) being assessed against the responsible officers. Obviously the criminal tax conviction is much more serious than the assessment of the trust fund recovery penalty. 
The DeMuros failed to pay trust fund taxes for their business of more than $546,000 over 21 calendar quarters from 2002 to 2008, resulting in a 21 count indictment.
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In our regular financial life credit rating is the most important thing and we should always take extra necessary measures to keep our credit scores high. The main reason behind this is majority lenders in US always evaluate your credit scores before sanctioning any loans. Credit rating indicates your reliability of repayment as it is given by three major credit bureaus in America. They collect all your transaction records from various sources like, government agencies, banks and credit card companies. Your timely repayment of loan installments, credit card payment and various bill payment records, you are rated with a three digit number by the credit bureaus.
It is really a difficult thing to pay multiple bills on time while we are engaged with so many important issues in our daily life. Sometimes, we also forgot to pay our loan installments on time. All these ultimately worsen our credit scenario.
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William H. Nurick, age 76, was convicted of tax evasion based on evidence he evaded a tax liability for one year of $157,000. In 2000 Nurick filed an amended 1995 income tax return admitting a $106,542 tax liability. He then attempted to conceal his offshore financial assets from the IRS by transferring $133,000 from an offshore bank account to a third party’s offshore bank account, and then “borrowing” the funds back from the same party, and having that person file a trust deed against his real estate with the apparent purpose of making it appear that it had no equity. He then proceeded to file a false Form 433 with the IRS in support of an offer in compromise (OIC) which among other things failed to list his vehicle, or his offshore Costa Rican bank account with a balance of $200,000.
The IRS financial statement also underreported his income. The case is interesting for several reasons.
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Nebraska’s Hospital Association is hoping that the state does not wait until next summer before planning their health insurance exchange. This information comes from Insurance Journal’s “Nebraska’s Health Providers Urge State-based Insurance Exchange,” by Grant Schulte. Currently, the Nebraska government plans to wait until a U.S. Supreme Court ruling regarding President Obama’s health insurance changes, which is expected around June. The deadline for states to have their individual health insurance exchanges planned is June 29, so Nebraska could be in a bad place if the current plans pass through the Supreme Court and they have not made their own budgeting and oversight plans.
The state run health insurance exchanges are for Americans to purchase individual health insurance with all of their options in an easy to shop location. Read more…
Recently the Supreme Court held in Kawashima v. Holder (Feb. 21, 2012) that filing a false tax return in violation of IRC Section 7206(1) as well as other criminal tax offenses are aggravated felonies which can result in deportation of a resident alien. Just over two years ago we blogged about the 9th Circuit decision in Kawashima which came to the same conclusion. The Supreme Court has now upheld that decision.
To review the background, Mr. and Mrs. Kawashima were legal residents of the United States having moved to Los Angeles from Japan in 1984. According to an article in the Los Angeles Times they opened several sushi restaurants in the West San Fernando Valley area of Southern California. They were accused of violating various criminal tax laws, and in 1997 Mr.
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Ohio’s health insurance exchanges are banned from providing any type of abortion coverage, according to the Reuters article, “Ohio bans abortion funding in insurance exchanges,” by Mary Wisniewski. Under President Obama’s healthcare reform, states must create health insurance exchanges for easy health care shopping by 2014. Governor John Kasich of Ohio, a Republican, signed the ban of any abortion coverage in their health insurance exchange. This ban will be in place regardless of whether the citizen plans to pay for their abortion with their own money; health insurance will not cover any of the procedure.
There is definitely outrage from pro-choice and other groups like the American Civil Liberties Union. The ACLU said that it would sue the state if this became a law, so that may be coming soon. NARAL Pro-Choice Ohio’s executive director argues that this law violates Ohio’s Constitution. Read more…
