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June 26, 2023 ¡ª U.S. District Judge Theodore D. Chuang today sentenced Jerry Phillips, a/k/a ¡°Tian Juzo,¡± of Capitol Heights, Maryland, to seven years in federal prison, followed by three years of supervised release, for a wire fraud conspiracy, aggravated identity theft, and illegal possession of a machine gun, related to a scheme to fraudulently obtain more than $1 million in COVID-19 CARES Act Paycheck Protection Program loan applications (¡°PPP¡±), Economic Injury Disaster loan applications (¡°EIDL¡±), and unemployment insurance claims. Judge Chuang also ordered Phillips to pay restitution of $1,235,213.

The Tax Cuts and Jobs Act of 2017 (P.L.115-97) added new section 59A (Tax on Base Erosion Payments of Taxpayers with Substantial Gross Receipts), which applies to large corporations that have the ability to reduce U.S. tax liabilities by making deductible payments to foreign related parties. This page contains statistics on the filings of Forms 8991, 8992, and 8993.

IR-2023-148, Aug. 16, 2023 ¡ª One year into its modernization efforts under the Inflation Reduction Act, the IRS has made significant progress toward its goals of delivering world-class service, upgrading its technology and ensuring high-income taxpayers, large corporations and complex partnerships pay taxes owed.

1094-B, 1095-B, 1094-C, and 1095-C Affordable Care Act Information Returns (AIR) Schemas, Business Rules and Release Memo for (TY2016v3.3)

1094-B, 1094-C, 1095-B, and 1095-C Affordable Care Act Information Returns (AIR) Schemas, Business Rules and Release Memo for (TY2015v3.0)

Release memo for Forms 1094-B, 1094-C, 1095-B and 1095- C Affordable Care Act Information Returns (AIR) for tax year 2015v8.0

Affordable Care Act of 2010: Number of Returns, Tax Collections, Tax Credits, Grants, and Fees for Selected Non-Exchange Provisions

August 9, 2023 ¡ª A federal grand jury returned an indictment charging Reginald Davis, of Baltimore, Maryland, for wire fraud and money laundering relating to the submission of fraudulent COVID-19 CARES Act loan applications. Davis is the former Chief Executive Officer of Strong City Baltimore (¡°SCB¡±), established in Maryland in 2015 as a non-profit organization serving individuals, community associations, institutions, and businesses in Baltimore. The indictment was returned on August 3, 2023, and unsealed today upon the arrest of the defendant.

Release memo for Forms 1094-B, 1094-C, 1095-B and 1095-C Affordable Care Act Information Returns (AIR) for tax year 2015v3.0

January 27, 2023 ¡ª U.S. District Judge Deborah J. Boardman sentenced Sherrie Lynne Bryant, of Bowie, Maryland, yesterday to 18 months in federal prison, followed by three years of supervised release, for wire fraud, relating to the submission of fraudulent Coronavirus Aid, Relief, and Economic Security ("CARES") Act loan applications, and for violating her probation from a previous federal conviction for obstruction of an audit.