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.
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.
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.
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.
When a truly wealthy person dies - like Minnesota Twins owner Carl Pohlad - the IRS doesn't give up easily on the possibility of collecting more taxes. Pohlad's heirs are now fending off the IRS, which wants more than the taxes already paid.
Anyone wealthy enough to own a major sports franchise is probably steeped deep in serious estate planning. William Davidson was no exception. In 2008, the year before he died, his net worth was $5.5 billion.
Maybe IRS agents checked their pockets and discovered some money they didn't know they had. At any rate, the IRS has announced it is canceling the furlough day initially scheduled for July 22. The offices will be open and fully staffed after all.
The IRS confirms it inadvertently posted Social Security numbers of tens of thousands of Americans on a government website. The identifying numbers relate to transactions by nonprofit political groups known as 527s.
The will left by "The Sopranos'" lead actor James Gandolfini is causing attorneys to scratch their heads. Some can't help but wonder - did the man who accumulated an estate worth about $70 million seek any legal advice at all before making his will?
A California man admitted that for tax years 2007 and 2008, he failed to report approximately $1,843,847 of income, resulting in an additional tax due and owing to the government of approximately $516,277. He faces a five-year prison sentence.
UPDATE: Terrell Owens Clears Massive Tax Debt. Owens had joined a long line of top-earning sports figures who blew through their wealth quickly and ended up broke. According to "Sports Illustrated," this is part of a "financial pandemic" that plagues a lot of top-earning athletes, especially in the NFL.
The common perception is that most of the key provisions included in the Patient Protection and Affordable Care Act take effect in 2014. But employers should be advised that other responsibilities and rights kick in before then.
Work for the IRS and you might be able to get all kinds of free perks, including pornography and electronics, expensive meals, and more - all on the taxpayer's dime. But these items aren't supposed to be free.
With a Democrat in the Oval Office, the screams heard around the country were that the targeting of conservative groups was politically motivated, maybe even ordered by the Obama administration. Now the focus has shifted.
IRS Principal Deputy Commissioner Danny Werfel issued a report June 24 outlining new actions and next steps to fix problems uncovered with the IRS' review of tax-exempt applications and to improve the wider processes and operations in place at the IRS.
A Washington man who advised and assisted others in a common tax fraud scheme, was sentenced June 14 in US District Court in Tacoma to ninety-seven months in prison and three years of supervised release.
Ohio Senator Rob Portman and Louisiana Congressman Charles Boustany Jr. introduced legislation on June 11 that would allow enrolled agents to be able to identify themselves with their Treasury Department-granted credential in any state in the country.