The Internal Revenue Service has released the 2011 Percentage Method Tables for Income Tax that were developed as a result of the recently passed Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010.
The IRS has warned that although the agency's computers have been programmed to assume that Congress will pass a fix to the AMT, the computers do not assume that any other tax breaks that have already expired will be extended.
Consumers with a bone to pick with the IRS have the opportunity to share their experiences. Originally designed as an IRS profile database, IRSDoghouse.com has evolved into a free and anonymous Web site where anyone can rate agency employees.
Affluent individuals may be less inclined to establish or continue a private foundation. Private foundations can involve substantial start-up costs and annual administrative fees. Some clients may consider another option that is growing in popularity.
H&R Block clients accustomed to receiving Refund Anticipation Loans (RALs) might be disappointed this tax season because the only bank that underwrites these loans for the company, HSBC Bank USA, might pull out of the program.
The American Institute of Certified Public Accountants (AICPA) called on Congress this week to repeal what it considers burdensome information reporting requirements placed on businesses and rental property owners by the Patient Protection and Affordable Care Act and the Small Business Jobs Act of 2010.
Los Angeles Lakers forward Lamar Odom is accustomed to facing formidable opponents on the basketball court. But these days, he’s taking on the Internal Revenue Service in a different court setting over what he sees as a personal foul.
The Internal Revenue Service is reminding consumers that they can weatherize their homes and be rewarded for their efforts. Homeowners making energy-saving improvements this fall can cut winter heating bills and lower their 2010 tax bill, too, according to the IRS.
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).