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Income Tax

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$1 Billion In Refunds Haven't Been Claimed, IRS Says: Here's Who's Eligible $1 Billion In Refunds Haven't Been Claimed, IRS Says: Here's Who's Eligible
$1 Billion In Refunds Haven't Been Claimed, IRS Says: Here's Who's Eligible More than 1.1 million Americans are owed a share of over $1 billion in unclaimed tax refunds, but time is running out to collect, the Internal Revenue Service (IRS) has announced. Taxpayers have until Tuesday, April 15, to file their returns and claim their refunds before the money is forfeited to the US Treasury. The IRS estimates that the median refund is $781, meaning half of the refunds are higher and half are lower. Who’s Eligible? Many of those who haven't filed may be due more than just their refund. The IRS warns that low- and moderate-income taxpayers could also be missing out on …

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by Joe Lombardi
Politics
Trump Calls For End To Income Tax, Offers Buyouts To 2 Million Federal Employees Trump Calls For End To Income Tax, Offers Buyouts To 2 Million Federal Employees
Trump Calls For End To Income Tax, Offers Buyouts To 2 Million Federal Employees President Donald Trump is calling for the elimination of federal income tax, advocating for a shift to a tariff-based revenue system.  He argues that this approach, which he says previously made the US “richer” and a more “powerful” economy, would mark a pivotal turning point for the nation. "America is going to be very rich again, and it's going to happen very quickly," Trump said during a speech in Florida on Monday, Jan. 27 at the 2025 Republican Issues Conference at the Trump National Doral Miami. "Instead of taxing our citizens to enrich foreign nations, we should be tariffing an…

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by Joe Lombardi
News
Somerset County Man Sentenced After Defrauding $4 Mil From Brain Injury Fund: Feds Somerset County Man Sentenced After Defrauding $4 Mil From Brain Injury Fund: Feds
Somerset County Man Sentenced After Defrauding $4 Mil From Brain Injury Fund: Feds A 58-year-old Somerset County man was sentenced on Thursday, Nov. 14,  to 7.5 years in prison after he was convicted of defrauding millions from the New Jersey Brain Injury Fund, authorities said. C.R. Kraus, a Manville resident, was convicted in April of conspiracy to commit healthcare fraud, five acts of healthcare fraud, and four counts of tax evasion, US Attorney Philip Sellinger said. Two of Kraus' co-conspirators pled guilty for their role in the scheme and are awaiting sentencing, Sellinger said. From 2009 to 2019, Kraus and his co-conspirators conspired to defraud the brai…

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by Sam Barron
Police & Fire
Jersey Shore Couple Failed To Report $4.5 Million In Income: Prosecutor Jersey Shore Couple Failed To Report $4.5 Million In Income: Prosecutor
Jersey Shore Couple Failed To Report $4.5 Million In Income: Prosecutor A Jersey Shore couple was arrested and charged on Tuesday, Oct. 15, with failing to report nearly $4.5 million in income over five years, authorities said. An analysis of Eli and Lauren Levy's personal and business banking records revealed that the 43-year-old Manalapan residents intentionally omitted taxable income from their jointly filed tax returns from 2018 through 2022, Monmouth County Prosecutor Raymond Santiago said. They did so despite their companies, Supreme Cleaning Services, LLC and Nation Wide Shippers, LLC, collecting a total of approximately $4.48 million in revenue ove…

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by Sam Barron
Police & Fire
Tax Advisor Failed To Pay His Own Taxes In Middlesex County: Prosecutor Tax Advisor Failed To Pay His Own Taxes In Middlesex County: Prosecutor
Tax Advisor Failed To Pay His Own Taxes In Middlesex County: Prosecutor A judge has ordered a longtime tax preparer to stop doing anyone's taxes after discrepancies were identified in those returns, authorities said. He also failed to file one of his own tax returns, they said. Jerry R. Jones, 82, of Monroe had a five-year state prison sentenced suspended on Friday, March 1 assuming he follows the court's order, according to Middlesex County Prosecutor Yolanda Ciccone, Chief Griffin M. Banos of the Monroe Township Police Department, and the New Jersey Department of Treasury, Division of Taxation’s Office of Criminal Investigation. Jones agreed t…

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by Jon Craig
Police & Fire
Jersey Shore Pizzeria Owner Gets 15 Months In Fed Pen For Ducking $425,000 In Taxes Jersey Shore Pizzeria Owner Gets 15 Months In Fed Pen For Ducking $425,000 In Taxes
Jersey Shore Pizzeria Owner Gets 15 Months In Fed Pen For Ducking $425,000 In Taxes The owner of a Wildwood Crest pizzeria must serve a plea-bargained 15 months in federal prison for filing false income tax returns, authorities said. Giuseppe D’Arancio, 61, of Cape May Court House must serve the entire term handed down Wednesday in U.S. District Court in Camden because there's no parole in the federal prison system. He also must spend a year of supervised release and pay $507,246 in restitution to the IRS under the sentence imposed by U.S. District Judge Joseph H. Rodriguez. D'Arancio and a co-owner of Sal's Pizza on New Jersey Avenue "kept two sets of acco…

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by Jerry DeMarco