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IRS Reports Sequester May Mean Fewer Audits post image

IRS Reports Sequester May Mean Fewer Audits

The Internal Revenue Service has been trying to close the multibillion-dollar tax gap through voluntary disclosure programs, amnesty initiatives and a higher number of audits in recent years. However, the recent across-the-board spending cuts that reduced the operating budgets of several federal agencies may have an impact on the tax agency’s ability to go after […]

Author: James F. McDonough

Link to post with title - "IRS Reports Sequester May Mean Fewer Audits"
HealthBridge Seeks Chapter 11 Bankruptcy Protection post image

HealthBridge Seeks Chapter 11 Bankruptcy Protection

Five Connecticut nursing homes operated and managed by HealthBridge Management were recently forced to seek Chapter 11 Bankruptcy Protection. The filing resulted after HealthBridge was denied a request to delay a court order forcing it to reinstate 600 union workers that went on strike after the company unilaterally changed their labor contracts, according to The […]

Author: Joel R. Glucksman

Link to post with title - "HealthBridge Seeks Chapter 11 Bankruptcy Protection"
Auto Mogul James Pflueger Back in Court on Tax Fraud Charges post image

Auto Mogul James Pflueger Back in Court on Tax Fraud Charges

Retired automobile magnate James “Jimmy” Pflueger will return to federal court on tax law violations that include several counts of tax fraud. Pflueger is being accused of using business assets for personal gain, falsely reporting his income on his tax returns in Hawaii and California, and hiding his assets overseas. The 86-year-old allegedly misconstrued the profits […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Auto Mogul James Pflueger Back in Court on Tax Fraud Charges"
Apple to Settle Class-Action Lawsuit Over Rogue App Purchases By Kids post image

Apple to Settle Class-Action Lawsuit Over Rogue App Purchases By Kids

Apple Inc. has reportedly agreed to settle a class-action lawsuit over applications (apps) purchased through its online marketplace. Five parents sued the company after their children inadvertently made purchases in apps that purported to be free. According to the plaintiffs’ complaint, “Apple failed to adequately disclose that third-party Game Apps, largely available for free and […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Apple to Settle Class-Action Lawsuit Over Rogue App Purchases By Kids"
High Rate of Student Loan Defaults Fails to Deter Investors post image

High Rate of Student Loan Defaults Fails to Deter Investors

Student Loan Default Can not be Dismissed Through Bankruptcy More Americans are carrying student loan balances now than ever before and defaulting on their balances at even higher rates. Despite the risky nature of this borrowing category, however, it appears that student loan securities are in high demand by investors. The Federal Reserve Bank of […]

Author: Joel R. Glucksman

Link to post with title - "High Rate of Student Loan Defaults Fails to Deter Investors"
Student Athletes Beware: March Madness Gambling Has Serious Consequences post image

Student Athletes Beware: March Madness Gambling Has Serious Consequences

Student Athletes joining in on a campus pool for March Madness is harmless fun, right?  Don’t bet on it! The chance to earn a little money through March Madness gambling brackets and betting pools may be enticing and seemingly harmless to student athletes. However, many may not be aware that small “friendly wagers” constitute a […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Student Athletes Beware: March Madness Gambling Has Serious Consequences"
Former Chicago Bears' Chris Zorich Pleads Guilty to Tax Evasion post image

Former Chicago Bears' Chris Zorich Pleads Guilty to Tax Evasion

Chris Zorich, the former lineman for the Chicago Bears, plead guilty to tax evasion, including failing to file federal income taxes for four years. The ex-NFL star allegedly failed to file federal returns between 2006 and 2009, and is also being charged with generating income relating to work for his charity, deferred payments from the Bears, […]

Author: James F. McDonough

Link to post with title - "Former Chicago Bears' Chris Zorich Pleads Guilty to Tax Evasion"
U.S. Aluminum Producer Files For Chapter 11 Bankruptcy Protection post image

U.S. Aluminum Producer Files For Chapter 11 Bankruptcy Protection

U.S. aluminum producer Ormet Corporation is seeking protection under Chapter 11 bankruptcy law. The company filed for protection in a U.S. Bankruptcy Court in Delaware. In court documents, it cited falling aluminum prices and growing operational costs as the reason for its financial distress. The company said it agreed to sell itself to investment firm Wayzata Investment Partners, […]

Author: Joel R. Glucksman

Link to post with title - "U.S. Aluminum Producer Files For Chapter 11 Bankruptcy Protection"
New Jersey Sports Betting Dealt Major Setback post image

New Jersey Sports Betting Dealt Major Setback

Legalized sports betting will likely not be in place for next year’s Super Bowl. U.S. District Judge Michael Shipp recently issued a permanent injunction against New Jersey’s sports gambling law. As we have previously discussed on this Business Law Blog, the Department of Justice, along with NBA, MLB, NHL, NFL, and NCAA, have challenged the […]

Author: Donald M. Pepe

Link to post with title - "New Jersey Sports Betting Dealt Major Setback"
Federal Judge Blocks New Jersey Sports Gambling Law post image

Federal Judge Blocks New Jersey Sports Gambling Law

A federal judge has barred New Jersey from legalizing the sports gambling legislation signed by Gov. Chris Christie in 2012. “After careful consideration, the Court has determined that Congress acted within its powers and the statute in question does not violate the United States Constitution,” U.S. District Judge Michael Shipp wrote in his ruling, according […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Federal Judge Blocks New Jersey Sports Gambling Law"
Israeli Banks May Be Target of U.S. Tax Evasion Case post image

Israeli Banks May Be Target of U.S. Tax Evasion Case

The U.S. has entered into agreements with several countries to help curb the incidence of tax law violations on the part of Americans. While many foreign banks have admitted to facilitating Americans in hiding income, the U.S. government may soon set its sights on two Israeli banks for complicity in tax evasion. Zvi Sperling, an […]

Author: James F. McDonough

Link to post with title - "Israeli Banks May Be Target of U.S. Tax Evasion Case"
Court Rules Airlines Can Require Credit Cards For In-Flight Services post image

Court Rules Airlines Can Require Credit Cards For In-Flight Services

For frequent fliers hoping to leave their credit cards in their wallets, “cashless” cabin policies appear to be here to stay. New Jersey’s Appellate Division recently rejected a lawsuit alleging that Continental Airlines’ credit card requirement for in-flight purchases violated the New Jersey Consumer Fraud Act (CFA). The plaintiff in the case, Rosen v. Continental […]

Author: Scarinci Hollenbeck, LLC

Link to post with title - "Court Rules Airlines Can Require Credit Cards For In-Flight Services"

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