IRS

Tax

IRS Fine-Tunes e-File System to Prevent Processing Delays

After performance issues to its electronic filing system caused delays in processing tax returns during the 2012 filing season, the IRS has made several enhancements to the system over the past year that are expected to improve the tax-filing process.
Tax

IRS Offers Four Steps for Hurricane Protection

Now that hurricane season is arriving, the IRS is encouraging both individuals and businesses to take the appropriate steps to safeguard themselves against a potential catastrophe.
Tax

Mary J. Blige Is Singing the Taxman Blues

She's a nine-time Grammy winner and a phenomenally successful R&B singer. But for reasons that aren't apparent, Mary J. Blige and her husband, Martin Isaacs, are buried in tax and financial troubles.
Tax

Sergio Garcia and Retief Goosen Tax Cases: Double Bogey for IRS

Athletic stars with big personalities and untarnished images can make far more by lending those images to major companies than they can by performing well at their chosen sports. But how is endorsement income taxed?
Tax

Lois Lerner, EO Director, Takes the Fall in IRS Scandal

The "Tea Party scandal" at the IRS has claimed another victim: Lois Lerner, director of the IRS Exempt Organizations (EO) division, has been placed on administrative leave after refusing to resign. Ken Corbin was promptly named the EO acting director.
Tax

Controversy Swirls Around Hearings on IRS Scandal

After the initial round of hearings held by three congressional committees this week, at least we know the IRS wrongfully targeted conservative "tea party" groups applying for tax-exempt status. But precious little else has been revealed.
Tax

IRS Official Lois Lerner Pleads the Fifth before House Oversight Committee

Lois Lerner, director of the IRS Exempt Organizations division, chose to invoke her Fifth Amendment right against self-incrimination before the House Oversight and Government Reform Committee on May 22.
Tax

IRS Extends Tax Deadlines for Oklahoma Tornado Victims

Following Monday's disaster declaration for individual assistance issued by FEMA, the IRS announced May 21, 2013, that affected taxpayers in Cleveland, Lincoln, McClain, Oklahoma, and Pottawatomie counties will receive special tax relief.
Tax

IRS Is Sued for Seizing Medical Records

The IRS has come under fire recently for reportedly authorizing intrusions into e-mails and online postings without obtaining a search warrant. Now it appears medical records might not be safe from the prying eyes of the nation's tax collection agency.
Tax

IRS to Refund Tax Preparers for Canceled Certification Tests

The IRS announced on May 16 that it's issuing refunds to tax return preparers who registered for certification tests that were canceled due to a court-ordered injunction in late March. Fees collected from tax preparers who tested on or after January 18, the date the tests were enjoined, are also being refunded.
Tax

Obama Names Daniel Werfel Acting IRS Commissioner

The current controller of the US Office of Management and Budget has been appointed by President Obama as the new acting commissioner of the IRS, effective May 22. Daniel Werfel will take over the position vacated by Steven Miller, who resigned on May 15.
Tax

Crime Watch: May 16, 2013

A man who perpetrated a million-dollar investment fraud from California that defrauded New Jersey victims was sentenced May 14 to forty-six months in prison for crimes related to the scheme, US Attorney Paul J. Fishman announced.
Tax

IRS Acting Commissioner Steven Miller Resigns Over Scandal

Steven Miller, a twenty-five-year veteran of the IRS who has been the agency's acting commissioner since November 2012, resigned from his post on May 15, less than a week after the IRS admitted to and apologized for improperly scrutinizing the federal tax-exempt status of conservative groups.
Tax

IRS Grant Helps Organizations Provide Free Tax Help to Seniors

The IRS TCE program offers free tax help to individuals who are sixty or older. The IRS provides grants to eligible organizations, which use the funding to purchase equipment and to reimburse volunteers for out-of-pocket expenses.
Tax

Justice Department Investigating IRS' Targeting of Conservative Groups

Attorney General Eric Holder is scheduled to testify before the House Judiciary Committee, one day after he announced the Justice Department has opened a criminal investigation of the IRS for improperly scrutinizing the tax-exempt status of groups with conservative titles, such as "tea party" or "patriot," in their applications.
Tax

GAO Identifies Weak Links in IRS' Internal Controls

It hasn't been a very good week for the IRS. First, a firestorm has erupted over its efforts to target conservative "tea party" groups applying for tax-exempt status. Now the Government Accountability Office (GAO) has released a new report saying that the IRS has to improve its internal controls.
Tax

Obama: IRS' Targeting of Conservative Groups 'Outrageous'

President Barack Obama says he will not tolerate political bias at the IRS and promised to get to the bottom of the agency's admitted targeting of conservative groups. The IRS apologized on May 10 for scrutinizing the tax-exempt status of groups with conservative titles, such as "tea party" or "patriot," in their names.
Tax

IRS Announces Plan to Share Tax Data with Brits and Aussies

The United States, Australia, and the United Kingdom have announced a collaborative effort to share tax information from a multitude of trusts and companies holding assets on behalf of residents from far-flung places.
Tax

Limits of Health Savings Accounts to Increase in 2014

For calendar year 2014, the annual limitation on deductions under §223(b)(2)(A) of the Internal Revenue Code for an individual with self-only coverage under a high-deductible health plan is $3,300, up from $3,250 in 2013.
Tax

Crime Watch: May 2, 2013

A federal court in Los Angeles has entered an order permanently barring John Trunzo from preparing federal income tax returns and other tax-related documents for others, the Justice Department announced April 30.

Pages


Already a member? log in here.