Farmers and ranchers who previously were forced to sell livestock due to drought have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the IRS announced October 18.
Randolph Scott of Doylestown, Pennsylvania, an attorney whose practice included estate and probate matters, was charged by Indictment on October 3, 2013, with defrauding a client's estate of more than $1.7 million.
The IRS has been embroiled in plenty of turmoil lately, but presumably it has nothing to do with a witch's cauldron or a satanic spell. Nevertheless, an IRS official sitting on the hot seat in Congress was asked to defend herself against mock charges she was demonic.
As if there wasn't enough controversy already swirling around the Affordable Care Act, now the TIGTA reports that the IRS can't account for $67 million stashed in a slush fund intended to help enforce the law.
Would you vote for a rapper for president? How about Congress? Don't answer too quickly. Whatever your politics, as the government shutdown wanes on, the rapper who calls himself Nelly is making more sense than any of our elected representatives.
It must be a pain to be wealthy and famous. Most people who enter a state on business can slip in, do a deal, and go on home without drawing the unwanted attention of the IRS. But for Tom Hanks, it's not so easy.
The National Organization for Marriage filed a lawsuit against the IRS on October 3, claiming it has "irrefutable proof" the agency illegally released the pro-traditional marriage organization's 2008 confidential tax return to the Human Rights Campaign.
Due to the federal government shutdown that began last Tuesday, the US Tax Court in Washington, DC, canceled trial sessions scheduled to begin on October 7 and 8 in several cities throughout the country.
A massive case of organized tax and bank fraud culminated September 26 with the unsealing of four federal grand jury indictments accusing fifty-five people of participating in one or more illicit schemes, including the theft of more than 2,000 identities that were used to claim more than $20 million in bogus IRS tax refunds.
The IRS says it's improving procedures for reviewing tax-exempt applications. On September 24, the nation's tax collection agency released a new table showing the progress it has made in following recommendations outlined by the TIGTA.
Because of the federal government shutdown, the IRS will be unable to issue tax refunds until the stalemate in Congress is over, but the agency reiterated that all taxpayers should continue to meet their normal tax obligations.
The American Institute of CPAs (AICPA) has created a questions-and-answers page on the tax section portion of its website to help practitioners working to complete tax returns during the federal government shutdown.
Following up on the success of his popular High Impact Excel session, this time around David H. Ringstrom, CPA turns his attention to pivot tables. In one hour you'll learn how to whip unwieldy data into shape, and then quickly build meaningful reports by dragging and dropping with your mouse. David will also discuss techniques for improving pivot table data integrity. Detailed handouts with numbered steps will be provided for a variety of Excel versions.