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A man who claimed in a lawsuit that an IRS agent seduced him and then failed to help him on his audit is appealing the dismissal of his case, as he felt the court made an error, according to ABC News. The lawsuit alleged that the plaintiff, Vincent Burroughs, was about $20,000 in debt to the federal government after his contracting business dried up in the global economic crash.
Wealthy taxpayers have been caught off guard by a number of increases that went into effect this year, leading to lots of confused calls to tax professionals, according to Reuters. They didn't know about things like the new Affordable Healthcare Act imposed 3.8 percent tax on investment income for individuals earning $200,000 and households making $250,000, as well as the 0.9 percent tax on ordinary income for the same high earners.
CPAs who work with Canadian clients may wish to be aware: the Canada Revenue Agency has announced that, due to a vulnerability caused by what's known as the Heartbleed bug, data on over 900 taxpayers has been stolen from their servers, according to Bloomberg.
Social networking site Facebook is seeking approval from regulators in Ireland to begin offering money transferring services, allowing people to store money in their accounts and send it to other users, according to Fox Business News.