While the IRS is telling congressional leaders that it won't enforce the requirement under the new health care law that Americans buy insurance, accountants are considering how to advise their clients.
Not only is recording artist Prince in deep with the IRS, but his tax troubles now extend overseas as well. Prince was summoned by the IRS at the request of French authorities to appear before the French tax agency.
A former US Airways pilot, Charles A. Davis, was sentenced to 120 months in prison for committing tax fraud. He was also ordered to serve twelve months of supervised release after his prison term and pay the IRS $538,569.
The Justice Department's Tax Division has issued Directive 144 to further the efforts of the Tax Division and the US Attorneys' offices to respond quickly to the challenges in stolen identity refund fraud cases.
William Scott Dion was sentenced to eighty-four months in prison for conspiring to defraud the United States and for obstructing the IRS. He was also ordered to pay restitution in the amount of $3 million.
Some tax preparers are circumventing standard IRS procedures by using an electronic power of attorney form to obtain tax transcripts, increasing the risk that taxpayer information is being disclosed without proper authorization.
In the wake of the Supreme Court upholding the PPACA, it's time for employers to get down to work. In particular, business clients must soon establish which employees will be covered under the "play-or-pay" rules.
IRS Commissioner Shulman has been gearing up the computers to accommodate the "real-time tax system" he has been envisioning for years. Now he needs Congress to pull the trigger on legislation that would authorize this approach.
Two tax return preparers are being sued by the Department of Justice for filing false deductions and credits, including federal fuel tax credits and education tax credits, on customers' federal tax returns.
The IRS, which has been turning to online services and "facilitated self-assistance" methods to inform taxpayers, needs better information to determine if those efforts are successful, according to a new audit report.
Chances are, even greatly higher taxes won't tarnish the halo that comes with a ten-year, $254 million contract to play for the Angels. No matter where he plays, with a salary like that, Albert Pujols will pay the highest rate.
Two months after the Supreme Court decision that found the Affordable Care Act constitutional, compliance deadlines for the complex tax provisions that support the individual mandate are approaching rapidly.