Recent legislation aimed at easing foreclosure proceedings, along with a rise in loan modification activity, has not done enough to address the need for intervention, according to the Treasury Inspector General for Tax Administration (TIGTA).
Speaking at this week's National Tax Conference in Washington, D.C., IRS Commissioner Mark Schulman addressed concerns about the new tax preparer identification guidelines that are about to take effect. Managing Editor Gail Perry reports.
Starting today, for-profit companies marketing debt-relief services over the telephone are prohibited from charging a fee before they settle or reduce a customer’s debt to the Internal Revenue Service, credit card company, or other unsecured debt.
This month, the Information Reporting Program Advisory Committee (IRPAC) released its report for 2010 outlining recommendations to the IRS regarding several key issues that have recently become law, or are soon to take effect.
Paid tax return preparers, including attorneys, CPAs, and enrolled agents, must apply for a Preparer Tax Identification Number (PTIN) from the IRS before signing and filing any federal tax returns in 2011. Paid preparers who already have a PTIN must renew it.
You’ve probably seen the ads for American Tax Relief. They claim to provide help to beleaguered taxpayers by dramatically reducing tax debt, including penalties and interest. But chances are good you will not be seeing those ads again anytime soon.
Even nice guys end up in tax trouble sometimes. Former Detroit Lions quarterback Rodney Peete and his actress wife, Holly Robinson Peete, did not see it coming…the Internal Revenue Service lien for more than $156,000 that hit them last summer.
Troubles continue to mount for the Reverend Al Sharpton, both personally and for his civil rights organization. The Internal Revenue Service has filed a tax lien against Sharpton in the amount of $538, 652.
The Internal Revenue Service has issued final regulations requiring paid tax return preparers to register with the IRS to obtain a Preparer Tax Identification Number (PTIN). A new online application system to obtain a PTIN is now available.
The Internal Revenue Service recently has released its final version of Schedule UTP, Uncertain Tax Positions Statement. Missing are major reporting requirements contained in the agency's original proposal.
After learning that a Florida man is accused of getting $2.7 million in bogus tax refunds, you might think stealing from the IRS is like taking candy from a baby. Actually, many of the identities that Bryan A. Copeland allegedly used to file fake tax returns did belong to children.
In June of 2009, the IRS began a review of tax preparers to investigate whether greater oversight was needed for those who collect compensation for preparing tax returns. The IRS released a report in December of 2009 giving recommendations on further oversight for tax preparers. How will the new regulations affect you?
The federal homebuyer tax credit can be considered a great boon to the housing market and the economy, or as a phenomenal waste of tax dollars. The watchdogs over at the Internal Revenue Service have taken another look at the credits.