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IRS

Shop Owner Gets Prison Time in Unpaid Tax Case

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The owner of two sports memorabilia and  gaming shops in the state of Washington who didn’t pay employment taxes on more than 50 of his workers over a nine-year period has been sentenced to 30 days in prison, ten months of home detention and restitution. The U.S. Attorney’s Office is Seattle says Donald A. Knutsen, 54, the owner of Northwest Sportscards in Tacoma and … [Read more...] about Shop Owner Gets Prison Time in Unpaid Tax Case

Fan Who Traded Jeter Ball for Memorabilia, Seats Could Owe Big Taxes

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Christian Lopez, the fan who caught Derek Jeter's 3000th hit, may wind up paying for all of that free memorabilia he got from the Yankees. If Lopez would have kept the ball, it likely would have sold for $150,000 or more at auction. He gave it back and as a thank you, the team turned over some signed balls, jerseys and bats from Jeter plus luxury box tickets for the rest … [Read more...] about Fan Who Traded Jeter Ball for Memorabilia, Seats Could Owe Big Taxes

Selling on eBay? The IRS May Be Watching

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The Internal Revenue Service believes there's a huge gap between the amount of taxes it collects and what it should be taking in.  They're now taking steps to change that. One area of strong interest is the huge number of people who are now picking up extra income by selling on eBay.  For most, it's just the means to support a hobby.  Others, though, have learned how to make … [Read more...] about Selling on eBay? The IRS May Be Watching