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.
The Internal Revenue Service has released a draft version of the form that small businesses and tax-exempt organizations will use to calculate the small business health care tax credit when they file income tax returns next year.
The Internal Revenue Service has issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements (FSAs), to pay for over-the-counter medicines and drugs.
Officials with the Internal Revenue Service last week said that the agency would drop its civil lawsuit against UBS following assurances from the Swiss government that it was in the process of delivering information on thousands of American clients suspected of using UBS accounts to evade U.S. taxes.
When Marcos Esparza Bofill got a tax bill from the Internal Revenue Service for more than $172 million, he asked a friend, “Who’s the IRS?” He’d spent more than a year working as a day trader in New York. Yet, he never heard about a little ritual we call: paying income tax.
California lawmakers earlier this month got one step closer to what Assemblyman Mike Feuer (D-Los Angeles) calls tax equity for same-sex married couples. Assembly Joint Resolution 29 (AJR 29) passed both houses in a vote of 52-9.
The Internal Revenue Service recently released Form 720 for the excise tax on indoor tanning services imposed by the Patient Protection and Affordable Care Act. The 10 percent excise tax became effective July 1.
In a letter addressed to Treasury Secretary Timothy Geithner, 31 members of Congress from both parties expressed their concern with two aspects of the Internal Revenue Service's proposal to regulate paid tax preparers.
Khloe Kardashian is a star in Hollywood, but with tax authorities…not so much. On July 28th the California Franchise Tax Board filed a tax lien against Kardashian in the amount of nearly $18,500 relating to income from 2007.
A female Internal Revenue Service special agent shot and wounded one of two suspects who attempted to rob her while she was on duty in the Bayview District of San Francisco during the early morning August 5.
Right about now, 'Rush Hour' star Chris Tucker might be feeling a bit of a squeeze in the form of a federal tax bill for nearly $12 million. And, chances are, he’s still reeling from last year’s pinch from Arnold Schwarzenegger, which seems small in comparison.
AccountingWEB appears to be developing a rogues gallery of taxation ne'er-do-wells as the same celebrities continue to make headlines. Wesley Snipes, Conrad Black, Lil Wayne, and Suge Knight are, once again, in the news.