What If I Don't Feel Like Filing?

(NEWSER) - Tax preparers Jackson Hewitt have bilked the government out of more than $70 million, alleges a suit filed yesterday by the Justice Department. The suit claims that over 125 of the company's franchises, all owned at least in part by the same Atlanta businessman, engaged in massive tax fraud. More»

Accountants and tax lawyers share tips for beating Uncle Sam

(NEWSER) - So the New York Times is offering tips for tax cheaters. Guess we know which newspaper will be audited next—but for now, let's take advantage of the paper's survey of 20 tax lawyers, accountants, and policy wonks:

• The easiest way to cheat is ... running your own company—or, more specifically, being the sole proprietor of a Schedule C business. Such tax filers write off tons of personal expenses and payments to family members (even to "infant children," says one CPA).

Also of note: Tax day has changed

(NEWSER) - Cheer up 99%; at least you're not getting audited. The IRS turned up the heat on the wealthy in 2011, auditing 12% of people earning a million dollars or more, according to figures released yesterday. That's up from 8% of millionaires in 2010 and 6% in 2009. By contrast, only 1% of people making $200,000 or less got a call from the tax man, the AP observes. More»

Quite a bit—but it likely won't happen

(NEWSER) - Warren Buffett made waves yesterday when he told the federal government to stop "coddling" him and other wealthy Americans and raise taxes on the rich. His plan would roll back the Bush tax cuts on people who earn more than $1 million and on capital gains and dividends income, and would close the loophole that allows a lower tax rate for hedge fund managers. But how much would it actually help? Quite a bit, writes David Kocieniewski in the New York Times : "The tax increase on all three fronts would generate as much as $500 billion in new revenue over the next decade." More»

Let's have some real 'shared sacrifice'

(NEWSER) - Washington keeps talking about “shared sacrifice”—but it's not asking the mega-rich to join in, writes Warren Buffett in the New York Times . “While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks.” It seems that lawmakers “feel compelled to protect us, much as if we were spotted owls or some other endangered species.” The investor offers himself as a case in point: Last year, his taxes amounted to just 17.4% of his taxable income, while everyone else in his office paid an average of 36%. More»