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February 06, 2012
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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?    
 
 
Corporate Reorganizations; Transfers of Assets or Stock Following a Reorganization
These proposed regulations address the effect of transfers of the assets or the stock of parties to a reorganization pursuant to transactions intended to qualify as reorganizations within the meaning of section 368(a) of the Internal Revenue Code. REG-130863-04. Published August 17, 2004.

 


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News about Taxation cases in Dallas and nationwide:

Job Creation and Retention Tax Credits Approved for Business Expansion
Job Creation and Retention Tax Credits Approved for Business Expansion

Columbus, OH -- Governor Bob Taft today announced t...

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Tax Amnesty Collections Near $10 Million
Program on Pace to Hit $48 Million Target

Richmond, VA, October 15, 2003 - Virginia's Tax Amnesty program, which seeks to...

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Virginia Tax Amnesty Closes With a Flurry
Virginia's 63-day tax amnesty program concluded Monday, but not before a deluge of delinquent taxpayers descended on tax department service centers...
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Taxation Terms

 


Today's Terms

Excise tax

Definition:
A tax on the sale or use of specific products or transactions.

Dependency exemption

Definition:
Amount that taxpayers can claim for their eligible dependents. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.

Limited Liability Company

Definition:
An LLC may be classified for Federal income tax purposes either as a partnership, a corporation, or an entity disregarded as an entity separate from its owner by applying the rules in Regulations section 301.7701-3. See Form 8832, Entity Classification Election, for more details.

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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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Dallas Taxation Attorney

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

  • Alvin
  • Amarillo
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  • Austin
  • Baytown
  • Brownsville
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  • Palestine
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  • Pharr
  • Plano
  • Richardson
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  • Seguin
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  • Victoria
  • Weslaco
 


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