Tax news August 2013

Tax

IRS Seeks to Ease Rules for Innocent Spouses

The IRS is moving forward in its efforts to provide more leeway under the "innocent spouse" rules. On August 12, the IRS proposed a permanent extension of the rule allowing taxpayers up to ten years to apply for equitable relief.
Tax

Jesse and Sandi Jackson Prison Bound on Fraud Convictions

Former US Representative Jesse Jackson Jr. and his wife were back in court August 14 to be sentenced on charges of campaign fraud and tax fraud. Both Jacksons entered guilty pleas last February.
Tax

New IRS Letter to Small Businesses Draws Flak from Congress

The IRS is facing more pressure from Congress this week. Some lawmakers are criticizing a slew of letters sent by the agency to thousands of small business owners.
Tax

Crime Watch: August 14, 2013

Mark Goldberg, a Bronx-based tax preparer, pled guilty to charges related to his participation in a scheme to file fraudulent tax returns on behalf of numerous clients, falsely claiming more than $7 million in bogus deductions, including school tuition credits and expenses.
Tax

S-Corporations Pay Highest Effective Tax Rates

A study released by the National Federation of Independent Business (NFIB) and the S-Corporation Association on August 7 shows that S-corporations pay the highest effective tax rates of any type of business.
Tax

IRS Will Keep Its Doors Open on August 30

On August 7, the IRS issued a press release saying it will remain open for business on August 30, the last of five furlough days previously announced by the nation's tax collection agency.
Tax

Crime Watch: August 9, 2013

A former Washington State real estate developer and his long-time girlfriend were convicted August 4 on twenty-five counts of tax evasion and false statements related to their scheme to avoid paying taxes on more than $23 million in income.
Tax

New York State Tax Collection Plan: No Pay-No Drive

If you're a resident of New York State and you've fallen behind in your state personal tax payments and owe more than $10,000, you might need to hire a driver or take a cab.
Tax

IRS Told More Needs To Be Done to Fight Identity Theft "Epidemic"

A subcommittee of the House Oversight and Government Reform – the same committee that's investigating alleged wrongdoings regarding tax-exempt applications of Tea Party and other conservative groups – warned that the IRS has to improve its efforts to thwart identity theft issues.
Tax

House Passes Bill to Keep IRS from Enforcing Obamacare

Before leaving for its August recess, the US House of Representatives on August 2 passed a bill that would prohibit the IRS from implementing or enforcing the Affordable Care Act, also known as Obamacare.
Tax

Employers in Seventeen States May Face Higher FUTA Tax Rates

Because seventeen states and the Virgin Islands have had an outstanding federal unemployment insurance loan for at least two years, employers in those jurisdictions may not be able to claim the maximum amount of state unemployment tax credits on their 2013 FUTA tax return.
Tax

NTEU Urges IRS Workers to Fight Obamacare Switch

The IRS is tasked with enforcing certain onerous provisions in the Patient Protection and Affordable Care Act of 2010, but the union representing IRS staffers is dead set against it.
Tax

Tea Party Scandal: Oversight Committee and IRS Spar Over Documents

The congressional committee investigating the "Tea Party scandal" – the House Oversight and Government Reform Committee – and the IRS continue to snipe back and forth at each other.
Tax

Crime Watch: August 2, 2013

The Justice Department and IRS announced that John T. Hoang of Virginia pleaded guilty in federal district court in Washington, DC, to willfully aiding and assisting in the preparation of false income tax returns for tax year 2004.
Tax

Obama Nominates John Koskinen as Next IRS Commissioner

President Obama on August 1 nominated John Koskinen as the next commissioner of the embattled IRS. The president tapped the retired Koskinen because of his ability to lead an organization out of a crisis.
Tax

Is the IRS Stonewalling Congress?

Does it seem that the IRS scandal targeting conservative groups for extra scrutiny has been going for . . . well, forever? Certain Republican leaders in Congress think the IRS is prolonging the agony by holding back information.
Tax

Worker Classification Conundrum: Employee or Independent Contractor?

If your clients have workers they consider to be independent contractors, you may want to drill down to ensure they are classifying them correctly and they're not actually employees in the eyes of the government.
Tax

House Committee Report Stirs Up Tea Party Scandal

The Republican-dominated committee claims that fifty-six applications filed by conservative groups were still pending as of May 31, while no groups with "progressive" in their names had a pending application.

Pages


Already a member? log in here.