US Supreme Court
A recent U.S. Supreme Court ruling has sent ripples through the world of small business, with significant implications for how closely held businesses are valued
September 18, 2024
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Category: US Supreme Court
US Supreme Court
Salvatore Groppo’s guilty plea for involvement in an unlawful sports gambling operation did not shield him from substantial IRS tax liabilities. Despite fulfilling his probation terms, Groppo faced over $100,000 in excise tax and penalties, which he unsuccessfully tried to settle. His appeal to expunge his felony conviction, aimed at negating the IRS’s tax assessment, was denied by the 9th Circuit Court. The court emphasized that the plea deal did not bind other authorities, reaffirming that tax liabilities remain despite a plea agreement.
July 12, 2024
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Tax Evasion
This blog post examines the case of a former golf professional sentenced for tax fraud, highlighting the severe consequences of evading taxes and skimming business revenues. It offers valuable lessons for business owners on maintaining accurate records, understanding tax obligations, and the importance of compliance to avoid legal and financial repercussions. The post also provides insight into the role of the IRS Criminal Investigation division in prosecuting tax-related crimes.
July 1, 2024
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Discover IRSProb’s expert take on the Supreme Court hearing a case on IRS summons use. Navigate the tax maze with us!
January 2, 2023
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