In our last post, we spoke briefly about some of the general factors tax authorities will look out for when determining the nature of taxpayer noncompliance—whether it is due to negligence or fraud. As we noted, the penalties are different depending on whether the noncompliance is based on fraud or negligence. When building a casecontinue reading…
IRS offers a glimmer of relief to Corinthian students p3
What’s the old joke? Oh, yes: What are the five most important words an English major will need to know after graduation? Answer: “You want fries with that?” Not really funny for English majors, but absolutely not funny for recent graduates of any of Corinthian Colleges Inc.’s various institutions. Corinthian closed all of its schoolscontinue reading…
IRS offers a glimmer of relief to Corinthian students p2
We have been discussing the problems facing the students left holding the bag when for-profit Corinthian Colleges Inc. closed all of its schools last year. The problem wasn’t just that Corinthian closed its schools; it was that the company had defrauded the students by, among other things, misrepresenting job placement figures. These students were crimecontinue reading…
IRS offers a glimmer of relief to Corinthian students
In the summer of 2014, the Minnesota Office of Higher Education ordered Corinthian Colleges Inc. to stop enrolling students from this state. At that point, though, about 300 students from Minnesota were enrolled in traditional and on-line programs operated by the for-profit college system. (Corinthian’s sole Minnesota campus was the Everest Institute in Eagan.) Corinthiancontinue reading…
A married couple’s tax debt: Not always yours, mine and ours
As we head into the new year, we trust everyone has taken a few minutes to work out a tax strategy for 2016. Planning for deductions and tax credits, looking at pre-tax contributions to employer-sponsored retirement plans and other benefits — everything should be in place by now, and we should all be able tocontinue reading…