Author: Editor

Still from Disney’s newest live-action remake “Lilo & Stitch.”DisneyShares of movie theater companies soared on Tuesday following a record-breaking Memorial Day Weekend at the domestic box office.AMC saw its stock jump more than 20%, while shares of Marcus Theatres’ parent company Marcus Corporation climbed 8% and Cinemark stock leaped 2.5%.The tandem releases of Disney’s live-action “Lilo & Stitch” and Paramount’s “Mission Impossible — The Final Reckoning” alongside holdovers Disney and Marvel’s “Thunderbolts*,” Warner Bros.’ “Sinners” and “Final Destination Bloodlines” led to an estimated $326 million haul, the highest Memorial Day box office ever, according to data from Comscore.It is also…

Book’im; out of Service; what a pill; and other highlights of recent tax cases.Greenbelt, Maryland: Jerome Brown, of Detroit, has been sentenced to five years in prison for laundering money stolen from federal and North Carolina state refunds. In his guilty plea in 2022, Brown acknowledged that from February through August 2020 he conspired with individuals in Nigeria and Michigan to launder wire-fraud money. Using information from ID-theft victims (including in Maryland), the conspirators put the money on prepaid debit cards that Brown deposited into bank accounts and cashed out through ATM withdrawals and by purchasing money orders and cryptocurrency. Brown cashed…

The Internal Revenue Service makes paid preparers who submit a return that claims the Earned Income Tax Credit, the American Opportunity Tax Credit and others (and one filing status) perform documented due diligence. Preparers don’t seem to mind, though they do freely acknowledge that the fees for non-compliance can snowball fast.Are clients as accepting about the added work, time and fees? Not always.”Clients were a bit annoyed by the extra questions and paperwork,” said Larry Pon, a CPA in Redwood City, California. “These questions are included in the organizer, and all of them need to be reviewed and documented. We’re telling…

U.S. prosecutors demanded that Builder.ai hand over financial statements and other documents, signaling that the artificial intelligence company was facing legal scrutiny in the weeks before it went bust.Builder.ai’s General Counsel Adi Vinyarsh told employees to preserve documents after the U.S. Attorney’s Office for the Southern District of New York requested information including accounting policies and a list of customers, according to an internal company email reviewed by Bloomberg and people familiar with the matter.The request followed reports about the London-based company’s change of leadership and financial issues, according to the May 8 email from Vinyarsh and the people, who…

Charles Rangel, the dapper, voluble U.S. congressman from New York’s Harlem district who for four decades used his perch on the House tax-writing committee to advocate for inner cities and the people who live there, has died. He was 94.The former congressman died on Monday, according to a statement from the City College of New York, where he had served as statesman-in-residence. No cause of death was given. From 1974, when he became the first Black member of the House Ways and Means Committee, Rangel championed tax legislation to foster low-income housing and urban development, encourage trade with Caribbean nations and…