From How to Get Out of Debt

People are often under the impression that unemployment benefits are not taxable. On face value you’d think that public benefits for unemployment that help you to try to get by would not be taxed. But you’d be wrong. If you were paid unemployment benefits in 2011 and did not opt to have taxes withheld from [...]

Read the full article at GetOutOfDebt.org, click here: Did You Get Paid Unemployment Benefits in 2011? Prepare to Pay the Taxes.

From How to Get Out of Debt

As tax season rolls around it’s no surprise to see tax refund check cashing schemes arising in the news. Announced Monday was the filing of a criminal Information charging defendants Wilson Lau, and his wife, Kate Yuee Lau, for their participation in a check cashing scheme involving more than $5 million in fraudulently obtained tax [...]

Read the full article at GetOutOfDebt.org, click here: Tax Refund Check Cashing Scheme Hits Southern Florida

From How to Get Out of Debt

You don’t need to be a financial genius or fiscally sound in order to save money. In fact, anyone can save! Anyone with the ability and willingness to save can be a master saver. Taking a few simple ideas and applying them to everyday life can really make a difference over time. A life saver, [...]

Read the full article at GetOutOfDebt.org, click here: Ways to Save Money for Frugal Living While Having Fun and a Budget

From How to Get Out of Debt

Sydney Jack Williams of Naples, Florida was sentenced today to a year and a day in prison for failing to report more than $12 million to the IRS in related commissions received in Nevin Shapiro’s $930 million Ponzi scheme. Williams previously plead guilty to an Information that charged him with one count of subscribing to [...]

Read the full article at GetOutOfDebt.org, click here: Largest Recruiter Of Shapiro’s $930 Million Ponzi Scheme Sentenced

From How to Get Out of Debt

Janika Fernae Bates, a resident of Alabama, was sentenced today in the Middle District of Alabama to 94 months in federal prison for stealing identities of student loan borrowers and providing them to a co-conspirator, who used them to file false tax returns, the Justice Department and Internal Revenue Service (IRS) announced. On Sept. 23, [...]

Read the full article at GetOutOfDebt.org, click here: Woman Sentenced For Stealing Identities Of Student Loan Borrowers

From How to Get Out of Debt

A trucking company’s owners have been indicted on embezzlement, tax evasion and million dollar fraud charges related to the World Trade Center site clean-up. A thirty-one count indictment was unsealed in federal court in Brooklyn this month charging trucking company owners Gerardo P. Fusella and Vincent J. Fusella, Jr., with crimes including embezzlement, mail fraud [...]

Read the full article at GetOutOfDebt.org, click here: Fraud Scheme Related to the World Trade Center Site Clean-Up

From How to Get Out of Debt

In early December Edward Lawson pleaded guilty to wire fraud in connection with a $6.2 million fraudulent investment scheme. According to his plea, Lawson was the president of “Automated Revenue Creation LLC” and “Guaranteed Results Advertising, LLC” (collectively, GRA). GRA’s investment literature stated that it was in the business of providing advertising through “Narrow Cast [...]

Read the full article at GetOutOfDebt.org, click here: Owner of Advertising Investment Companies Pleads Guilty To $6.2 Million Fraud Scheme

From How to Get Out of Debt

In late November it was announced that New Jersey mortgage broker, Robert Cusic Jr., admitted that he conspired with a New Jersey attorney, Thomas Frey, and others to extort victims out of money and property by falsely stating they were the subjects of criminal investigations. Cusic plead guilty to an Information charging him with conspiracy [...]

Read the full article at GetOutOfDebt.org, click here: Mortgage Broker Pleads Guilty To Extortion Conspiracy Of Homeowners

From How to Get Out of Debt

Earlier this year Janice Edwina Demmitt was convicted of the federal felony offenses charged in a 27-count indictment against her and her son, Timothy Fry. At trial, Demmitt was convicted on on one count of conspiracy to commit money laundering, eight counts of wire fraud and 11 counts of money laundering. Her son, Fry, whom [...]

Read the full article at GetOutOfDebt.org, click here: Mother Sentenced To Almost 6 Years Jail Time In Family Fraud Affair

From How to Get Out of Debt

I’ve never really thought or paid much mind to where a criminal would buy a car. Have you? I mean, think about it, you’d figure if someone was hiding from the police or the Internal Revenue Service (IRS) that they’d probably buy a car in cash and pay off a dealer to keep it off [...]

Read the full article at GetOutOfDebt.org, click here: If You’re Catering To Criminals, You’re Probably A Criminal

From How to Get Out of Debt

So, A Fraudster, Arsonist And Drug Dealer Walk Into A Bar… OUCH. The last of the six defendants in an indictment charging mortgage fraud, arson, marijuana trafficking and money laundering has entered a guilty plea in federal court in Michigan as of last week. The following defendants entered guilty pleas before United States District Judge [...]

Read the full article at GetOutOfDebt.org, click here: So, A Fraudster, Arsonist And Drug Dealer Walk Into A Bar…

From How to Get Out of Debt

Andrew Hamilton Williams, Jr., was convicted last week in Maryland of fraud conspiracy, wire fraud and conspiracy to commit money laundering in connection to a massive mortgage fraud scheme. The scheme, entitled “Metro Dream Homes” promised to pay off homeowners’ mortgages on the homes of their dreams but instead left them high and dry. According [...]

Read the full article at GetOutOfDebt.org, click here: $78 Million Mortgage Fraud “Dream Home” Scheme Owner Convicted

From How to Get Out of Debt

I love the names investigators attach to investigations. For example, last week 16 arrests in conduction with Operation “Psyched Out” were made. Operation “Psyched Out”! Love the name, not the act. Apparently sixteen people affiliated with the Manor Medical Imaging Clinic and pharmacies in and around the San Gabriel Valley in California participated in “prescription [...]

Read the full article at GetOutOfDebt.org, click here: Is It Prescription Harvesting Season Again? Sixteen Arrested In Conjunction With Operation “Psyched Out”

From How to Get Out of Debt

It was announced on October 26, 2011 that Michael Powers, former owner of Commonwealth Temporary Services, a temporary employment agency, has been sentenced to seven years in prison in “one of the most egregious tax evasion schemes” the sentencing judge had ever come across. The former temp agency apparently ran a $30 million under-the-table payroll [...]

Read the full article at GetOutOfDebt.org, click here: Commonwealth Temporary Services Owner Sentenced For “One Of The Most Egregious Tax Evasion Schemes”

From How to Get Out of Debt

After a conviction last November following a seven-week trial David Moro was sentenced on October 5, 2011 to 10 and a half years (126 months) in prison for orchestrating and carrying out a $4.2 million broadcasting equipment lease and financing scheme which yielded a loss of more than $3 million to lenders. Moro was convicted [...]

Read the full article at GetOutOfDebt.org, click here: $4.2 Million For Free Internet Download Software?

From How to Get Out of Debt

On Thursday, October 7, 2011 Rober Schroy, of California, pleaded guilty to wire fraud and tax evasion for his role in a $1 million investment fraud scheme. Schroy pleaded guilty to one count of wire fraud and one count of tax evasion. According to filed documents in this case: Schroy said from 2004 through 2009 [...]

Read the full article at GetOutOfDebt.org, click here: $1 Million Investment Fraud Scheme Could Mean 25 Years In Jail

From How to Get Out of Debt

This just in! ANOTHER person thought it would be a GREAT and SUPER SMART idea to defraud a bank … and it WASN’T! When will people learn? Multiple Virginia banks were defrauded almost $3.4 million by Osvaldo Mercado for submitting fraudulent loans. Mercado was indicted on conspiracy, six counts of bank fraud, two counts of [...]

Read the full article at GetOutOfDebt.org, click here: Union Hispana Defrauds Multiple Virginia Banks

From How to Get Out of Debt

55 people have been indicted with connections to a large tax fraud scheme which involves hundreds of falsified income tax returns that sought over $250 million in refunds. This scheme has been deemed “Operation Stolen Treasures” and while it is not a big blockbuster movie starring Nicholas Cage it is a criminal investigation revolving around [...]

Read the full article at GetOutOfDebt.org, click here: 55 Indicted In Operation Stolen Treasures

From How to Get Out of Debt

Victor Cilli pleaded guilty on October 3, 2011 to an Information charge against him with one count of securities fraud, one count of conspiracy to commit bank fraud and one count of tax evasion. Cilli was a commodity pool operator and day trader in New Jersey and directed two schemes to defraud investors and financial [...]

Read the full article at GetOutOfDebt.org, click here: New Jersey Commodity Pool Operator And Day Trader Faces 55 Years For Two Separate Schemes

From How to Get Out of Debt

The Internal Revenue Service has launched a new program to allow employers to get their workers classified correctly. The Voluntary Worker Classification Settlement Program is designed to allow employers to make the switch from contractor to employee without facing stiff penalties if caught with incorrectly classified workers. It’s sort of an amnesty program. Under the [...]

Read the full article at GetOutOfDebt.org, click here: May Be Time to Reclassify Independent Contractors in Debt Relief Companies

From How to Get Out of Debt

Stephen Sparks, a business partner of Global Points, was sentenced on September 29, 2011 for federal fraud offenses after pleading guilty in January of 2011 to wire fraud and money laundering. Sparks was given a prison sentence of 24 months (2 years) with a following 3 years of supervised release. Sparks will also have to [...]

Read the full article at GetOutOfDebt.org, click here: Global Points Owner Gets 2 Years In Prison For Wire Fraud And Money Laundering

From How to Get Out of Debt

I’m a proud Maryland native but after reading a recent press release of a Bethesda, Maryland resident’s pay phone fraud scheme, I can’t help but feel embarrassed that this took place so close to my old home. This must be what people from New Jersey feel like every week after an airing of The Jersey [...]

Read the full article at GetOutOfDebt.org, click here: This Just In: $4 Million Pay Phone Fraud Scam …. And Pay Phones Still Exist!

From How to Get Out of Debt

I’m proud to announce that Jim Buttonow has agreed to assist readers with tax issues for free. Jim is a great guy and certainly a very knowledgeable tax expert. I have no reservations in recommending him as an expert to help site readers. Jim is a licensed CPA who spent 19 years with the IRS [...]

Read the full article at GetOutOfDebt.org, click here: Get Free Help and Advice From Former IRS Agent

From How to Get Out of Debt

The following guest post was contributed by Jim Buttnow. Jim is a licensed CPA who spent 19 years with the IRS coordinating large compliance teams of IRS agents and specialized personnel. In the last 5 years, Jim has invented consumer and practitioner software and treatises on how to address many different tax issues. He has [...]

Read the full article at GetOutOfDebt.org, click here: Owe The IRS? Here Are Eight Awesome Insider Tips to Make it Less Painful and Cheaper

From How to Get Out of Debt

Jim Buttonnow from easyIRS.com sent me over the following article to post in an attempt to warn consumers of the looming tax problems to come as a result of living through tough times. He raises some very important points and issues that will undoubtably catch consumers and land them in trouble with the IRS. This [...]

Read the full article at GetOutOfDebt.org, click here: If You Thought the Recession Was Bad, Wait Till You See The Tax Problems Many Will Have as a Result

From How to Get Out of Debt

“Dear Steve, 4-1/2 years ago I decided to go back to school for Dental Hygiene. My wife would not let me work during the four years of school and her income did not quite meet all our expenses. I took out private loans to pay for school and living expenses plus rolled an old HELOC [...]

Read the full article at GetOutOfDebt.org, click here: Will Banks Negotiate My Student Loans? – Russell

From How to Get Out of Debt

Patricia wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free. Income from the GetOutOfDebt.org site advertising is used to help alleviate poverty. If you would like to [...]

Read the full article at GetOutOfDebt.org, click here: American Express is the Least Helpful and Scariest Creditor I Have. – Patricia

From How to Get Out of Debt

With so little time before the next presidential election it is a good time to take a quick look at some important issues that are impacting the wallets and purses of the American consumer. Under the Bush administration consumers were significantly harmed by unreasonable and unfair bankruptcy reforms that clearly helped big business, hurt consumers [...]

Read the full article at GetOutOfDebt.org, click here: The American Consumers Nuclear Winter

From How to Get Out of Debt

“Dear Steve, Several years ago (6-8 years) I accumulated approximately $25,000 of debt and no reasonable way to pay it back after a divorce. I dodged the creditors and collection agencies-but never had the means to pay anything to any of them. (I lived in subsidized housing,received food stamp benefits and was qualified for rehab [...]

Read the full article at GetOutOfDebt.org, click here: Some Old Debts Just Resurfaced on My Credit Report. – Carrie

From How to Get Out of Debt

“Dear Steve, I recently bought a business that isn’t doing well. I’m just making enough to pay the business expenses with zero left over. I’ve accumulated $68000 in debt plus an additional $81,000 in a Home Equity loan due to a gambling problem I have. I’ve since gotten help for the habit and haven’t gambled [...]

Read the full article at GetOutOfDebt.org, click here: I Recently Bought a Business That Isn’t Doing Well and Owes the IRS. – Susan