IRS

Tax

Federal income tax: Who's paying and who isn't?

About half of the households in the United States pay no federal income tax, thanks in part to tax credits, deductions, and exemptions.
Tax

IRS continues audit trend away from large corporations and toward smaller businesses

The IRS has reduced the hours spent auditing large corporations by one-third since 2005 and at the same time has increased the hours spent on audits of small companies by 30 percent
Tax

Court case could create an upside to severance payments

Severance pay has become an unfortunate fact of life for many companies and employees. But based on a recent court case, there may be some good news for both.
Tax

HIRE Act affidavit form now available

Employers who hope to take advantage of a tax break signed into law last month must fill out a new form by the Internal Revenue Service to claim the payroll tax exemption.
Tax

IRS delays causing increased taxpayer penalties

The Internal Revenue Service should improve the way it deals with balance-due payments from delinquent taxpayers, according to a recent TIGTA report. Unnecessary delays are resulting in extra penalties and interest costs to taxpayers.
Tax

From country to rhythm and blues to rap: tax trouble has no favorite genre

Grammy winning country singer Dwight Yoakam might have new material for a sad, sad song now that the Internal Revenue Service has filed a lien against him for nearly half a million dollars.
Tax

Reasons behind bigger tax refunds depend on who you ask

Just when America needs a financial boost, income tax refunds are up an average of nearly 10 percent, according to the Internal Revenue Service.
Tax

IRS knocks out two boxing legends

Thomas “Hitman” Hearns, who earned more than $40 million in his legendary boxing career, may find himself homeless soon, proving that it’s not just ordinary folks who are dealing with the threat of foreclosure.
Tax

Comment period open on IRS proposal to require ID numbers for tax preparers

The Internal Revenue Service recently issued proposed regulations allowing the IRS to require that tax return preparers use Preparer Tax Identification Numbers as the preparer’s identifying number on all tax returns and tax refund claims that they prepare.
Tax

Threats to IRS increase after fatal plane crash

Internal Revenue Service watchdogs are looking into more than 70 reports of threats or inappropriate comments made to agency workers following a private plane crash into an IRS building in Austin, Texas, that killed the pilot and an agency employee last month.
Tax

Two IRS employees indicted for theft of government money

Two IRS employees in Covington, KY, were charged in a 29-count indictment for stealing thousands of dollars in money orders.
Tax

IRS issues list of Dirty Dozen tax scams

The Internal Revenue Service has issued its 2010 “dirty dozen” list of tax scams, including schemes involving return preparer fraud, hiding income offshore, and phishing.“Taxpayers should be wary of anyone peddling scams that seem too good to be true,” IRS Commissioner Doug Shulman said. “The IRS fights fraud by pursuing taxpayers who hide income abroad and by ensuring taxpayers get competent, ethical service from qualified professionals at home in the U.S.”
Tax

IRS wants new, controversial issues to dissect

The IRS wants business taxpayers, associations, and other interested parties to submit to the Industry Issue Resolution (IIR) Program tax issues for resolution involving a controversy, a dispute or an unnecessary burden on business taxpayers.
Tax

Update: Bad guys plead guilty in two separate cases

Sherry Lynn Vertoch was arrested for posing as an agent of the Internal Revenue Service in order to gain free housing at a California hotel. If convicted, Vertoch could spend up to three years in prison.
Tax

IRS announces qualified disaster treatment for Chile

The Internal Revenue Service this week issued guidance designating the February earthquake in Chile as a qualified disaster for federal tax purposes.
Tax

Massachusetts tax attorney suspended for failing to meet tax filing obligations

Massachusetts Tax Attorney Kevin Kilduff has been barred from practicing before the Internal Revenue Service for 48 months for failing to file a federal tax return, and for filing another five returns late.
Tax

Florida mayor owes IRS more than $200,000 in back taxes

Florida’s North Bay Village mayor allegedly hasn’t made a mortgage payment in nearly two years, lives in a house on which he had built an illegal second story, and owes the Internal Revenue Service more than $200,000 in back taxes.
Tax

Battle with IRS and bank leads man to raze his house

A few weeks ago Terry Hoskins had a 3,088-square-foot brick house that he and his wife had occupied since 1991. It was valued at more than $350,000 and he owed the bank about $160,000. Now the house is a pile of rubble.
Tax

Snoop Dogg, Spears: Potpourri of celebrities and their dealings with the tax man

Rapper Snoop Dogg, nee Calvin Broadus, is in trouble with the Internal Revenue Service again. On January 19, the IRS filed a lien with the Los Angeles County Recorder of Deeds against Snoop Dogg and his wife, Shante.
Tax

IRS addresses issues regarding disclosure of uncertain tax positions

Heather Maloy, IRS commissioner, large and mid-size business division, joined Ernst & Young LLP professionals this week for a discussion of the IRS proposal to require disclosure of uncertain tax positions on a schedule that will be attached to corporate income tax returns.

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