What do Annie Leibovitz, Darryl Strawberry and Martha Stewart all have in common? They’ve all been charged and convicted of tax evasion. In addition to insider trading, home décor and recipe guru Martha Stewart had to pay a reported $220,000 in back taxes. Photographer Annie Leibovitz owed 2.1 million in unpaid taxes for unreported incomecontinue reading…
Tips that may help ward off an audit
We are well into summer. By some measures it’s about half over. At the start of the season, many parents of teenagers from Minneapolis-St. Paul to across the river in Wisconsin likely were pressing their offspring to go out and get jobs. In some cases, especially if the parents have their own businesses, jobs werecontinue reading…
IRS says it’ll change its ways on civil asset forfeiture
Cruise ships can’t turn on a dime. That makes it dangerous if a passenger falls overboard. It can take an hour for the behemoth to come about and get back to the spot of disaster. Government is much the same. It’s big and bulky. It usually takes a good deal of time for change tocontinue reading…
There’s nothing juvenile about being tagged tax delinquent
When a Minnesotan who has not reached the age of majority violates the law it’s not called a crime, at least not most of the time. Rather, it’s called a delinquent act. Because the perpetrator is not an adult the penalties for wrongdoing tend to be less severe. The same may not necessarily be saidcontinue reading…
This TV giveaway won’t have tax implications
Perhaps you’ve seen the ads for Grand Casino, that Minnesota hub of gaming activity. They tend to feature real guests who have been lucky in love or winnings. One recent commercial featured a smiling guy who won a brand new Cadillac. If you are a lucky winner of nearly any sort of contest or TVcontinue reading…