Income Tax

A Tennessee tax preparer in the city of Soddy-Daisy will will lose his firm in the first step by bankruptcy trustee Jerry Farinash to track down millions of dollars of investors' money that has disappeared.

An owner of a Lakewood, New Jersey, landscaping business has been sentenced to 18 months in prison for concealing assets in connection with his November 2008 bankruptcy petition, authorities said.

A police board found officer Elaine Thomas, a 15-year veteran of the force, guilty Wednesday of an alleged tax scam and recommended that she be suspended for 30 days without pay.

The premier of the Cayman Islands, McKeeva Bush, 57, was arrested early Tuesday morning and detained in police custody in connection with a number of ongoing police investigations.

The "fiscal cliff" looms over the minds of business investors as Bush era tax cuts are scheduled to expire soon. Among other things, this could mean an increase of $2000 in income taxes for middle class families.

Avoid penalties, improve compliance and know the important changes for the 2012 year-end

The most recent Blackbaud Index of Charitable Giving shows that charitable giving decreased 3.8% for the three months ending October 2012 as compared to the same period in 2011.

In more than 35 years as a certified public accountant, Greg Sevier said this year has probably been the most challenging one in which to do tax planning for clients.