IRS

Tax

IRS Offers Six Tax Tips for the Self-Employed

With less than two weeks left in the current tax filing season, the IRS has issued six tax tips for the self-employed, a category that includes independent contractors and those who own their own businesses.
Tax

IRS Posts Nine Tips for Deducting Charitable Gifts

The IRS often puts charitable deductions under the microscope. This area has been ripe for abuse in the past, but the rules for establishing and documenting gifts to charity were recently tightened.
Tax

Linebacker Romanowski Loses $13 Million Tax Deduction

As a former defensive player, Bill Romanowski should've seen this latest round of trouble coming, but he didn't. Having been a linebacker for several teams over his career, he's seen his share of controversy.
Tax

IRS Expands Law Enforcement Assistance Program on Identity Theft Nationwide

As part of its growing efforts to stanch identity theft crime, the IRS announced the nationwide expansion of its program designed to help state and local law enforcement agencies obtain tax return data needed for their local efforts in investigating and prosecuting thieves.
Tax

Dionne Warwick: "Say a Little Prayer" for Singer's Tax Woes

Singer Dionne Warwick's back taxes are paid up now, said her publicist. The taxes are paid, but because some of those taxes went unpaid for almost two decades, she still owes $10.2 million in penalties and interest. Ouch!
Tax

Former IRS Commissioner Everson to Practitioners: Buckle Up!

Mark W. Everson, the former Commissioner of the IRS, sees a bumpy road ahead in tax circles due to pending sequester cuts, growing taxpayer identification theft, and looming health care reforms. But Everson has complete faith in the nation's tax collector's ability to rise to the challenges it will be facing.
Tax

TIGTA Says IRS CAP Program Works But Needs Additional Assessment

The TIGTA said in a report publicly issued March 26, that the CAP program, a new cooperative effort between the IRS and business taxpayers to conduct real-time audits, is receiving positive feedback, but it may not be cost-efficient.
Tax

Court Denies IRS Appeal to Lift Injunction on Tax Preparer Licensing

On March 27, a federal appeals court refused to lift an injunction issued January 18 by a lower court against the IRS' effort to license tax preparers. The ruling means the IRS' requirements for mandatory testing and continuing education of all tax preparers remain suspended.
Tax

NFL's Freddie Mitchell Pleads Guilty in Tax Fraud Case

Former Philadelphia Eagles wide receiver Freddie Mitchell was back in the spotlight in early March, but he probably wishes he wasn't. This appearance wasn't on the field and not on an ESPN special, but in an Orlando federal court to enter a guilty plea for his role in a tax fraud case.
Tax

Tax Refunds Delayed Due to Problem with Form 8863 Issued Sooner than Expected

On March 27, the IRS announced the expedited processing of some 600,000 tax returns filing Form 8863, Education Credits, that were delayed due to "a problem with a limited number of software company products."
Tax

US Supreme Court to Hear Case on IRS Penalties on Tax Shelters

The US Supreme Court announced it will review a suit involving the IRS' practice of imposing 40 percent penalties on allegedly abusive tax shelters.
Tax

IRS Announces "Dirty Dozen" Tax Scams – Identity Theft Is Top Threat

The IRS has issued its annual "Dirty Dozen" list of tax scams for 2013 to remind taxpayers to use caution during tax season to protect themselves against a wide range of schemes, ranging from identity theft to impersonation of charitable organizations.
Tax

IRS 2011 Audit Rates Show Estate Tax Returns under the Microscope

The IRS scrutinized estate tax returns more than any category of individual tax returns in tax year 2011, at close to a 30 percent rate of examination, while individual income tax returns with $1 million or more in income saw a slight decline in audit coverage.
Tax

IRS Spoof on Star Trek: The Sequel

Responding to criticism by a high-ranking member of the House's tax-writing committee, the IRS now admits it should have scuttled a quirky video based on the iconic "Star Trek" TV show. But the agency continues to maintain that another video parody, this one based on "Gilligan's Island," should not be cast away.
Tax

IRS Releases 2012 Data Book; Examined 1 Percent of Individual Returns

On March 25, the IRS announced the release of its "2012 Internal Revenue Service Data Book," which provides a snapshot of agency activities.The report includes information about returns filed, taxes collected, enforcement actions, taxpayer assistance, and the IRS budget and workforce, along with other data.
Tax

Ex-Chicago Bear Zorich Up Tax Creek without an Excuse

No excuses for former Chicago Bear Christopher Zorich. He simply told the judge in March that he didn't file his taxes for 2006 to 2009 "in a timely fashion." He pled guilty on four misdemeanor counts of not filing federal income tax on more than $1 million.
Tax

IRS Star Trek Video: Going Where No Agency Has Gone Before

A high-ranking member of the tax-writing committee in Congress is demanding the IRS release copies of two video parodies produced with taxpayer money. The videos, which spoof "Star Trek" and "Gilligan's Island," were shot at the IRS' television studio in Maryland.
Tax

Relief Available to Many Extension Requesters Claiming Tax Benefits

On March 20, 2013, the IRS provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they're attaching to their returns any of the forms that couldn’t be filed until after January.
Tax

Mike Tyson Has Heavyweight Tax Problems

When Mike Tyson was named heavyweight champion back in 1986, he was the youngest man ever to win that title. They called him "the baddest man on the planet." Over the course of his career, he made more than $300 million. But in 2003, he declared bankruptcy.
Tax

GAO Takes IRS to Task on Information Security Control Lapses

Although the IRS has continued to make progress in addressing information security control weaknesses, the Government Accountability Office (GAO) said in a March 2013 report that "serious weaknesses remain."

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