Articles Posted in IRS

Puerto RicoIn 2011, the U.S. issued $877.9 million in bonds in an effort to build and renovate 100 schools in Puerto Rico. Now the IRS is auditing for four Series 2011 R taxable of school construction bonds that totaled $756.4 million and $121.5 million in Series 2011 T direct-pay qualified zone academy bonds.

In a letter dated February 7th, the IRS notified the Puerto Rico Fiscal Agency and Financial Advisory Authority that it will be examining certain forms related to these Series R and Series T bonds. This information was filed on the Municipal Securities Rulemaking Board’s EMMA website on behalf of the Public Buildings Authority.

The bonds granted for the construction and renovation of these schools were issued in accordance with a provision set by the 2009 American Recovery and Reinvestment Act, which was enacted during the Obama administration.

MASSACHUSETTS WHISTLEBLOWER LAW

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A self-described psychic and spiritual leader Sally Ann Johnson, 41, of Martha’s Vineyard, ran businesses including Psychic Match Inc and Flatiron Psychic, admitted in Boston federal court that she tried to impede the administration of tax laws. Johnson was paid to purportedly perform spiritual cleansing and healing services and repeated exorcisms. Johnson, who told the court she never passed the second grade, called herself a Romani “spiritual consultant.” She said  she had not paid taxes in connection with the money she received as income as well as a gift.“I honestly did not do the right thing,” she said. Sentencing is scheduled for January 17, 2018 and she could face upto three years in prison. In addition, she could also face a fine from $250,000 or double the gain or loss the offense caused.

Johnson, who has resided in New York, Florida, Illinois and at times Massachusetts, faces up to three years in prison. She is scheduled to be sentenced on January 17. Her lawyers declined to comment. According to court papers, Johnson at various times lived with the unnamed woman on Martha’s Vineyard, a favorite vacation spot for the rich and famous.