Tuesday, June 15, 2021
JAY TALKS CRYPTO
No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
    • Non Gamstop Casino
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos
JAY TALKS CRYPTO
No Result
View All Result
Home Coin Bureau

Attorney General James Secures $4.25 Million After Provider of Air Inflation Services and Owner Admit to Tired Scheme Evading Taxes

admin by admin
April 5, 2021
in Coin Bureau
0
Attorney General James Secures $4.25 Million After Provider of Air Inflation Services and Owner Admit to Tired Scheme Evading Taxes
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Company and Owner Failed to Pay Over $2.4 Million in Sales Tax

SSVE and Owner Also Underpaid Income Tax and Employee Withholding Tax

NEW YORK – New York Attorney General Letitia James today announced she has secured $4.25 million from a provider of air inflation services operating throughout New York, as well as its owner, after they were caught evading taxes. The agreement resolves claims that the Nassau County-based company Service Station Vending Equipment, Inc. (SSVE) — a provider of self-service, coin-operated air machines used to inflate automobile tires — and its owner, William McCabe, knowingly failed to pay sales tax due on sales of air inflation services, as well as engaged in fraudulent tax avoidance schemes by underreporting sales and paying workers off the books.

“As New York continues to suffer budget shortfalls, we won’t allow any company to further deflate our state’s finances and avoid millions in tax payments,” said Attorney General James. “While a few quarters may not seem like a lot at once, over nearly a decade, SSVE and its owner pocketed $2.4 million through their tired scheme. If New Yorkers need to pay for their air, we’re going to ensure those selling it pay their taxes. Those who aim to cheat the system should know that their fraud will blow up in their faces because my office will continue to aggressively pursue those who defraud taxpayers and the state.”

In 1997, SSVE requested an advisory opinion from the New York state Department of Taxation and Finance (DTF) on whether sales from its coin-operated air machines were exempt from sales tax. In response, the DTF issued an advisory opinion that explicitly stated that receipts from sales of services rendered by air inflation machines are subject to sales tax.

Two decades later, in January 2016, SSVE’s newly-hired accounting firm discussed several tax and accounting issues with McCabe, including SSVE’s failure to collect the appropriate amount of sales tax. Despite that discussion, McCabe continued his behavior and refused to change his sales tax collection practices with respect to air inflation services.

In an effort to further avoid the payment of sales tax, in 2016 and 2017, SSVE and McCabe hired a lobbying firm to lobby state legislators on two pieces of proposed legislation that would have provided an exemption for sales tax on sales from coin-operated air inflation machines. Neither bill was ever enacted.

Despite their actual knowledge that sales from SSVE’s air inflation machines were subject to sales tax, an investigation by the Office of the Attorney General (OAG) found that SSVE and McCabe evaded more than $2.4 million in sales taxes for services for the period from 2010 through 2018. SSVE and McCabe also evaded income taxes, employee withholding taxes, and workers’ compensation payments to the New York state Insurance Fund by underreporting sales and paying workers off the books.

The OAG investigation commenced when whistleblowers filed a lawsuit under the qui tam provisions of the New York False Claims Act, which allows people to file civil actions on behalf of the government and share in any recovery.

In connection with this agreement, SSVE and McCabe admitted and accepted responsibility for their failure to collect and remit the full amount of sales tax for air inflation services and admitted that such conduct violated both the New York False Claims Act and the New York Tax Law. They will pay more than $4.25 million in damages and penalties.

New Yorkers can learn more about filing a claim under the New York False Claims Act on the OAG’s website.

The investigation was led by Assistant Attorney General David Farber, with the assistance of legal support analyst Bianca LaVeglia — both of the Taxpayer Protection Bureau. The Taxpayer Protection Bureau is led by Bureau Chief Thomas Teige Carroll and Deputy Bureau Chief Scott Spiegelman. The Taxpayer Protection Bureau is a part of the Division for Economic Justice, which is overseen by Chief Deputy Attorney General Chris D’Angelo and First Deputy Attorney General Jennifer Levy.





Source link

Related articles

What Makes the 1933 Double Eagle so Special?

What Makes the 1933 Double Eagle so Special?

June 15, 2021
Another Chinese province bans Bitcoin mining—sort of – Fortune

Another Chinese province bans Bitcoin mining—sort of - Fortune

June 15, 2021
Tags: AdmitAirAttorneyEvadingGeneralInflationJamesMillionOwnerProviderschemeSecuresservicesTaxesTired
Share76Tweet47

Related Posts

What Makes the 1933 Double Eagle so Special?

What Makes the 1933 Double Eagle so Special?

by admin
June 15, 2021
0

1933 Double Eagle Breaks the Highest Value on Record In coin news recently, a gold coin sold at an...

Another Chinese province bans Bitcoin mining—sort of – Fortune

Another Chinese province bans Bitcoin mining—sort of - Fortune

by admin
June 15, 2021
0

Another Chinese province bans Bitcoin mining—sort of  Fortune Source link

China’s Xiong’an New Area Begins Using Digital Yuan for Salary Payments

China’s Xiong’an New Area Begins Using Digital Yuan for Salary Payments

by admin
June 15, 2021
0

China’s Xiong’an New Area, a district that is located about 60 miles southwest of Beijing and that serves as...

Youth Development Coach Martin Murff, Who Worked With Kids To Stop Violence In Chicago At UCAN, Is Now Charged As Violent Gang Leader – CBS Chicago

Youth Development Coach Martin Murff, Who Worked With Kids To Stop Violence In Chicago At UCAN, Is Now Charged As Violent Gang Leader – CBS Chicago

by admin
June 15, 2021
0

CHICAGO (CBS) — Martin Murff spent years working with kids to stop violence in Chicago, and was thought to...

Bitcoin Rises on Elon Musk’s Tweets; Housing’s Rural Surge Pre-Dates COVID-19

Bitcoin Rises on Elon Musk’s Tweets; Housing’s Rural Surge Pre-Dates COVID-19

by admin
June 15, 2021
0

CryptoCornerBitcoin's rally got a boost Monday when Elon Musk said Tesla would again accept the crypto as payment for...

Load More
  • Trending
  • Comments
  • Latest
2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

2021 Coinbase Debit Card Review • Pros, Cons & More • Benzinga

April 14, 2021
MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

MASSIVE NEWS Hokkaido inu Exchange news+ More! 1000x gem! If you missed shiba inu dont miss this!

May 12, 2021
Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

Kishu Inu Mega pump! We called it first! Kishu inu Pump update+ Discord updates!

May 15, 2021
Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

Shiba Inu coin 1000x Exchange+massive news+ Shib Price Prediction!

May 11, 2021
Aggregated open interest of Ethereum options reaches all time high 

Ethereum gas fees have plunged to a six-month low. Here’s why

0
Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

Want to be rich? Bitcoin’s limited supply cap means you only need 0.01 BTC

0
Risky business

Risky business

0
Cardano Price Analysis: 07 March

Cardano Price Analysis: 07 March

0
Aggregated open interest of Ethereum options reaches all time high 

Ethereum gas fees have plunged to a six-month low. Here’s why

June 15, 2021
Litecoin Likely to Resume the Bullish Trend if the 100 SMA Holds. If Not, We’re Buying Lower

Litecoin Likely to Resume the Bullish Trend if the 100 SMA Holds. If Not, We’re Buying Lower

June 15, 2021
Stellar Lumens Needs Institutional Audience To Become Top Altcoin

Emirates joins airlines’ high-loss club

June 15, 2021
As Yearn.Finance’s yield vaults grow, ‘crop’ projects define boundaries

As Yearn.Finance’s yield vaults grow, ‘crop’ projects define boundaries

June 15, 2021

Recent News

Aggregated open interest of Ethereum options reaches all time high 

Ethereum gas fees have plunged to a six-month low. Here’s why

June 15, 2021
Litecoin Likely to Resume the Bullish Trend if the 100 SMA Holds. If Not, We’re Buying Lower

Litecoin Likely to Resume the Bullish Trend if the 100 SMA Holds. If Not, We’re Buying Lower

June 15, 2021

Categories

  • Altcoins
  • Altcoins Daily
  • Bitcoin
  • Bitcoin Live
  • Cardano
  • Cardano Price Prediction
  • Coin Bureau
  • Coingecko
  • Cryptocurrency
  • Cryptocurrency live
  • Dogecoin
  • Ethereum
  • Litecoins
  • Videos
  • XLM
  • XLM Live
  • XRP

Follow Us

Calculator

 
  • Privacy & Policy
  • About Us
  • Contact Us

© 2021 Jay Talks Crypto  

No Result
View All Result
  • Home
  • Bitcoin
    • Bitcoin Live
  • Ethereum
  • Cryptocurrency
    • Cryptocurrency live
  • Altcoins
    • Altcoins Daily
  • Cardano
    • Cardano Price Prediction
  • XLM Live
    • XLM
  • XRP
  • Litecoins
  • Dogecoin
  • More
    • Coingecko
    • Coin Bureau
  • Videos

© 2021 Jay Talks Crypto