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By any other name; poor Service; a saga continues; and other highlights of recent tax cases.Rockford, Illinois: Tax preparer Gretchen Alvarez, 49, has pleaded guilty to preparing and filing false income tax returns.She operated the tax prep business Sick Credit Repair Tax and Legal Services and represented herself as an income tax preparer. Alvarez did not have a PTIN and admitted that in 2019 and 2020 she misrepresented taxpayers’ eligibility for education credits and deducted fictitious business expenses from their taxable income to reduce tax liabilities and inflate refunds.The tax loss totaled $356,881.Sentencing is Sept. 17. Alvarez faces a maximum…

A view shows the wreckage of an Air India aircraft, bound for London’s Gatwick Airport, which crashed during take-off from an airport in Ahmedabad, India June 12, 2025. Adnan Abidi | ReutersAn Air India plane that was bound for London and carrying 242 people crashed seconds after takeoff in western India on Thursday, killing all but one person on board the Boeing 787 Dreamliner.It marked the first crash of a Boeing 787 Dreamliner and was the deadliest plane crash in years.Here’s what to know:What kind of plane was it?The aircraft was a Boeing 787-8 Dreamliner. It is a popular twin-aisle…

Reporter’s Notebook: The gamble of the tax plan’s trickle down economics – CBS News Watch CBS News A new tax proposal backed by President Trump would give the biggest benefits to the top earners, while cutting support for the poor. If the promised growth doesn’t come, the most vulnerable will pay the price. “CBS Evening News” co-anchor John Dickerson explains. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Baby car seat carriers for sale at a Walmart store in Secaucus, New Jersey, US, on Tuesday, March 5, 2024. Bloomberg | Bloomberg | Getty ImagesThe cost of some baby gear has risen in recent weeks due to President Donald Trump’s tariff policies, according to a new congressional report.The cost of five common items bought for babies has increased 24%, or by $98 combined, between April 1 — the day before Trump’s sweeping April 2 tariff announcement — and June 9, according to the analysis by the Joint Economic Committee’s minority arm.The analysis tracked the prices of five popular baby…

The Treasury Department and the Internal Revenue Service are giving cryptocurrency brokers additional time to comply with requirements to report on digital asset sales and withhold taxes.In Notice 2025-33, they extended and modified the transition relief provided last year in Notice 2024-56 for brokers who are required to file Form 1099-DA, Digital Asset Proceeds From Broker Transactions to report certain digital asset sale and exchange transactions by customers.In 2024, Treasury and IRS announced final regulations requiring brokers to report digital asset sale and exchange transactions on Form 1099-DA, furnish payee statements, and backup withhold on certain transactions starting Jan. 1,…