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May 13, 2022 ¡ª Carl Delano Torjagbo, aka Karl Lucius Delano, has been arrested on federal bank fraud and money laundering charges arising from a scheme to defraud a bank by obtaining a $9.5 million Paycheck Protection Program ("PPP") loan in the name of a fictitious company and then allegedly using the loan proceeds to upgrade his personal lifestyle. The PPP is a federal loan program intended to help small businesses survive the COVID-19 pandemic by providing them with funds to cover certain payroll costs, including benefits, interest on mortgages, rent, and utilities.

April 30, 2025 ¡ª A Charlotte man was sentenced to prison today for his role in a multimillion-dollar bank fraud scheme, announced Russ Ferguson, U.S. Attorney for the Western District of North Carolina.

Topic No. 505, Interest Expense

Topic No. 901 Is a Person with Income from Puerto Rico Required to File a U.S. Federal Income Tax Return?

Form 1120-PC is used to report the income, gains, losses, deductions, credits, and to figure the income tax liability of insurance companies, other than life insurance companies. Use this form to report the income, gains, losses, deductions, credits, and to figure the income tax liability of insurance companies, other than life insurance companies.

The amount of credits (federal tax deposits or estimated tax payments) you claimed on your tax return for the tax period shown on your notice and the amount of credits that were applied to that year are different. This created an overpayment on your account. If we don¡¯t hear from you, we¡¯ll refund the overpayment unless you owe other tax or debts we're required to collect.

Non-credentialed return preparers learn the benefits of earning an Annual Filing Season Program (AFSP) - Record of Completion from the IRS.?

January 23, 2023 ¡ª Tax season takes place January 23 through April 18, and IRS Criminal Investigation (IRS-CI) reminds U.S. citizens and green card holders living abroad to follow the same rules for paying taxes as if they were residing in the U.S.

Tax Tip 2022-133, August 30, 2022 ¡ª Bankruptcy is a last resort for taxpayers to get out of debts. For individuals, the most common type of bankruptcy is a Chapter 13. This section of the bankruptcy law allows individuals and small business owners in financial difficulty to repay their creditors.

IR-2024-219, Aug. 21, 2024 ¡ª As educators gear up for the new school year, the IRS reminds schoolteachers that the maximum deduction for classroom expenses in 2024 remains at $300.