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April 28, 2023 ¡ª Denise Coit Alston, Monica Faye Barnes, Terron Cortez Parker, and Kami D. Woodard each pleaded guilty earlier this week to conspiracy to commit wire fraud for fraudulently obtaining Paycheck Protection Act (¡°PPP¡±) COVID-19 loans. The defendants requested relief for various companies they owned including companies listed as being engaged in catering, trucking and real estate. They all face up to 20 years in prison.

Information about Form 5306, Application for Approval of Prototype or Employer Sponsored Individual Retirement Arrangement (IRA), including recent updates, related forms and instructions on how to file. Sponsoring organizations, employers, or employee associations file this form to request a ruling as to whether a trust or custodial account agreement meets the requirements of section 408(a), 408(c), 408(p), or 408A, or whether an individual annuity meets the requirements of section 408(b), 408(p), or 408A.

Publication 5505, Domestic Private Foundations, reports data from a sample of Forms 990-PF, Return of Private Foundation or Section 4947(a)(1) Trust Treated as Private Foundation. filed by organizations tax-exempt under IRC Section 501(c)(3).

Form 990-T, Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)), and Schedule M (as applicable) to report unrelated business income, figure and report unrelated business income tax liability, report proxy tax liability, claim a refund of income tax paid by a regulated investment company (RIC) or a real estate investment trust (REIT), on undistributed long-term capital gain, request a credit for certain federal excise taxes paid or for small employer health insurance premiums paid, and report unrelated business income tax on reinsurance entities.

Form 990-T, Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)), and Schedule M (as applicable) to report unrelated business income, figure and report unrelated business income tax liability, report proxy tax liability, claim a refund of income tax paid by a regulated investment company (RIC) or a real estate investment trust (REIT), on undistributed long-term capital gain, request a credit for certain federal excise taxes paid or for small employer health insurance premiums paid, and report unrelated business income tax on reinsurance entities.

This section contains data by fiscal year for excise taxes levied on the manufacture, sale, or consumption of commodities as well as certain activities. Affordable Care Act (ACA) taxes and fees are included beginning with fiscal year 2010, depending upon the provision. The data include amounts reported to or collected by the Internal Revenue Service, the Alcohol and Tobacco Tax and Trade Bureau, and the Customs Service. Additionally, this section includes data for excise taxes on certain activities conducted by private foundations, charities, and split-interest trusts.

August 15, 2023 ¡ª Today, the Financial Crimes Enforcement Network (FinCEN), in coordination with IRS Criminal Investigation (CI), issued a Notice to financial institutions calling attention to a concerning increase in state and federal payroll tax evasion and workers¡¯ compensation insurance fraud in the U.S. residential and commercial real estate construction industries. Every year, state and federal tax authorities lose hundreds of millions of dollars to these schemes, which are perpetrated by illicit actors primarily through banks and check cashers.

May 31, 2022 ¡ª United States Attorney Bob Murray announced today that Curtis Alan Perry, of Windsor, Colorado, was sentenced on 12 counts of failure to account for and pay trust fund taxes. He appeared before United States District Court Judge Nancy D. Freudenthal on May 23, 2022. The court sentenced Perry to 18 months¡¯ imprisonment followed by 3 years of supervised release and ordered Perry to pay $356,280.37 in restitution and a $1,200 special assessment.

Information about Form 8870, Information Return for Transfers Associated With Certain Personal Benefit Contracts, including recent updates, related forms and instructions on how to file. Charitable organizations described in Internal Revenue Code section 170(c) or charitable remainder trusts described in Internal Revenue Code section 664(d) file this form to report premiums paid after February 8, 1999, on certain life insurance, annuity, and endowment contracts (personal benefits contracts).

Use Schedule D (Form 1065), Capital Gains and Losses, to report the capital gains and losses from transactions reported on Form 8949, Sales and Other Dispositions of Capital Assets; certain transactions the partnership doesn't have to report on Form 8949; capital gains from installment sales from Form 6252, Installment Sale Income; capital gains and losses from like-kind exchanges from Form 8824, Like-Kind Exchanges (and section 1043 conflict-of-interest sales); partnership's share of net capital gains and losses, including specially allocated capital gains and losses, from partnerships, estates, and trusts; and capital gain distributions.