IRS blames Russia for ‘$50 million’ hack
Remember when the IRS website was hacked and around 100,000 people had their tax data stolen? Officials are now pointing accusatory fingers in the direction of Russia, at least according to CNN. The revelation was made by Illinois Representative Peter Roskam, who is believed to have gotten the information straight from IRS chief John […]
Investigation finds 741 tax returns filed from single Belle Glade home
A small South Florida city has attracted the attention of federal investigators looking into tax refund fraud and identity theft, according to an independent watchdog agency that oversees the Internal Revenue Service. In Belle Glade, nestled along Lake Okeechobee, 741 tax returns worth more than $1 million in refunds were filed from a single address […]
Miami’s international banking clients move money to protect financial privacy
Under new IRS disclosure regulations, details about U.S. bank accounts held by foreign nonresident depositors could be shared with their home governments. As a result, bankers say hundreds of millions of dollars have left Florida since April. Miami’s position as a hemispheric banking capital could be weakened as some foreign depositors close their accounts in […]
Facebook’s Zuckerberg may face $2B tax hit
Facebook’s upcoming IPO will make founder and CEO Mark Zuckerberg a billionaire — but it will also stick him with an eye-popping tax bill that could reach as high as $2 billion. Industry experts say that might be one for the record books. “I personally have never seen a bill into the billions — close, […]