Because of the widespread devastation to housing caused by storms and flooding in Colorado, the IRS will temporarily suspend certain limitations for qualified low-income housing projects that house people displaced by the storms and flooding.
A New York man admitted his role in one of the largest credit card fraud schemes ever charged by the Justice Department. He and a coconspirator caused more than $200 million in confirmed losses to businesses and financial institutions.
More than four years after Michael Jackson's death, the tug of war between his estate and the IRS seems to be heating up rather than nearing agreement. Some estate specialists wonder if the IRS is looking to tax assets they haven't generally taxed before.
Bloomberg BNA last week released its projected US inflation-adjusted tax rates for 2014, which include many new amounts pertaining to the American Taxpayer Relief Act of 2012 and the Affordable Care Act.
Who would've ever thought Beanie Babies would emerge as part of a tax evasion scheme? Only in America. But on September 19, the billionaire creator of Beanie Babies, Ty Warner, was hit with charges of tax evasion.
The "Tea Party scandal," which has been quietly simmering for several weeks, may boil over once again. A leading Republican lawmaker says the IRS continued to target conservative groups after they'd been granted tax-exempt status.
Beth Ann Pettyjohn of Englewood, Colorado, was sentenced to serve twenty-eight months in federal prison for failure to pay over employment tax. The judge also ordered her to pay $4,669,532.05 in restitution to the IRS as well as a $25,000 fine.
Although slow rises in prices have been paired with only modest wage increases in many sectors of the current economy, taxpayers will at least receive some relief in 2014, thanks to the mandatory annual inflation adjustments provided under the Tax Code, according to CCH, part of Wolters Kluwer.
The IRS announced it is providing tax relief to individual and business taxpayers in four Colorado counties impacted by the recent severe storms that have caused flooding, landslides, and mudslides in that state.
A couple from Iowa and a Las Vegas accountant were charged September 11 with conspiring to defraud the IRS of more than $700,000 by allegedly using nominee corporations and bank accounts to hide their income and other assets.
On September 5, the US Department of the Treasury and the IRS issued proposed regulations to implement the information reporting requirements for insurers and certain employers under the Affordable Care Act.
You've seen game shows where contestants hop around the stage excited beyond belief at the possibility of winning cash and prizes. What you don't see, according to some of the winners, is when the other shoe drops. That is, the tax shoe – and it drops fast.
A video the IRS released to the House Ways and Means Committee on September 6 that parodied Donald Trump and his show "The Apprentice" was made using taxpayer dollars at a total cost of approximately $10,000.
Spanish soccer star Lionel Messi and his father, Jorge Horacio Messi, protested their innocence when authorities accused them of filing false tax returns last June. Still, they agreed to pay additional taxes to settle the government's claims against them.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.