The IRS can hold back tax refunds of taxpayers for up to six months while it examines their tax returns from other years. It can then use the refund to offset the tax liability. And the program may expand further.
The menu for June 6 features specials on Senate tax writers slate summer hearings on tax reform, more larger companies turning to smaller audit firms, Tax Foundation refutes report on corporate taxes, and more.
The menu for June 5 features specials on the SEC extending settlement schedule with Big Four firms in China, a health insurance strategy the IRS may not approve of, Fortune 500 companies’ tax shelters, and more.
The menu for June 4 features specials on Senate tax extenders bill stalled until November, tax-evasion probe targets another Swiss bank, tactic Walmart uses to slash its tax bill, PwC resigns as Annie’s auditor, and more.
In a letter last week, a bipartisan group of more than 110 House legislators urged Ways and Means Committee Chairman Dave Camp not to repeal the last in, first out inventory accounting measure in his tax reform plan.
The menu for June 2 features specials on how taxes could curb consumption of sugary drinks, tax question looms over Illinois governor’s race, roads – not gas – should be taxed, Donald Sterling’s huge tax bill, and more.
Recent court rulings that now prevent the IRS from regulating paid preparers have resulted in some suspended or disbarred tax practitioners being able to obtain or renew PTINs and prepare federal tax returns again for compensation.
The menu for May 28 features specials on House Ways and Means Committee to consider six tax breaks on Thursday, why a carbon tax is needed, harnessing the US tax code to promote college affordability, and more.