IRS

Tax

Report: Taxpayer data might be at risk

Taxpayers’ personal data is vulnerable to disclosure because the Internal Revenue Service is failing to track all the contractors that store and process the information, and the agency is not fixing previously identified security weaknesses fast enough.
Tax

Game, set, match to the IRS

Just before the start of this year’s French Open Tournament, news spread that Murphy Jensen, a doubles champion from the 1993 French Open, was neck deep in hot water with the Internal Revenue Service and two state tax agencies.
Tax

Fraud continues to plague homebuyer program

Iron bars might keep prisoners from physically picking our pockets. But that’s not enough to keep them – and others – from stealing millions in taxpayer money through fraudulent first-time homebuyer tax credits.
Tax

Push toward electronic filing continues

With a job as big as the Internal Revenue Service's, there has to be a pack of watchdogs – maybe several packs – to help the agency stay on track. That’s where Electronic Tax Administration Advisory Committee (ETAAC) comes in.
Tax

Collecting unpaid taxes four pennies at a time

Aaron Zeff is the owner of Harv’s Metro Car Wash in Sacramento, California. Imagine his surprise when, one day last March, federal agents showed up at his business demanding payment of an amount owed from tax year 2006. Just how much did Zeff need to cough up? Four pennies.
Tax

Four rap stars make the IRS hit list

The list of famous, well-paid people who owe back taxes is long and getting longer. Lately, it seems the names dominating the list are those of rappers.
Tax

IRS accepting applications for qualifying therapeutic discovery project

The Internal Revenue Service recently announced that small firms may begin applying for certification for tax credits or grants available under the Qualifying Therapeutic Discovery Project Program, created by the Affordable Care Act.
Tax

IRS deals professional poker player a bad hand

Poker has been good to Michael “The Grinder” Mizrachi. But his financial fortunes have hit the skids in recent months. Earlier this year, both his home and a rental property were lost to foreclosure. Then the Internal Revenue Service hit him with a tax lien for nearly $340,000.
Tax

Twin Cities IRS agent nabbed in alleged bribe attempt

A Twin Cities agent of the Internal Revenue Service, who had filed for bankruptcy approximately two weeks earlier, allegedly offered two businessmen a deal: I’ll cut your tax liability by more than 80 percent if you pay me $9,700.
Tax

IRS lien brings back an old scandal for Clinton friends

They are not movie stars, but the names of Harry Thomason and his wife, Linda Bloodworth-Thomason, are well known in Hollywood, in Washington, D.C., and now on the rolls of delinquent taxpayers.
Tax

Nicolas Cage: Poster boy for delinquent taxes

Just when you thought he’d learned his lesson, Nicolas Cage is wrestling with more tax issues. Since late last year he had become the poster boy for celebrities who don’t pay their fair share, making headlines time after time.
Tax

Three artists sing the tax-trouble blues

The Queen of Soul and the taxman are doing battle again – and Judy Collins and Toni Braxton are singing a similar tune.
Tax

Former Detroit Lion in trouble as “Farr” as eye can see

Mike Farr once rode high as a member of the Detroit Lions. These days, he’s in hot water. Not only does he owe nearly $83,000 in state and federal taxes but, a few weeks ago, federal regulators put a lock on his assets after he was named in a government lawsuit.
Tax

Another round of actors in trouble with the tax man

What do Mary Ann, the Big Lebowski, Arnie Becker, and Cal Hockley have in common? The actors who played them are in tax-related trouble.
Tax

IRS sending compliance questionnaires to 401(k) plan sponsors

The Internal Revenue Service has launched a compliance initiative aimed at 401(k) plans. Plan sponsors have 90 days to complete and return the lengthy questionnaire.
Tax

IRS gives details on small business health care tax credit

The Internal Revenue Service recently issued guidance intended to make it easier for small businesses to determine whether they are eligible for the new health care tax credit under the Affordable Care Act and how large a credit they will receive.
Tax

Statement from IRS commissioner regarding small charity filing deadline

Now that the May 17 filing deadline has passed, it appears many small tax-exempt organizations have not filed the required information return in time.
Tax

HIRE Act: Payroll tax exemption claim form for hiring new workers available

The Internal Revenue Service this week has issued the newly revised payroll tax form that most eligible employers can use to claim the special payroll tax exemption that applies to many new workers hired during 2010.
Tax

Taxman to seller of luxury watches: Time’s up!

Christopher Wardle sells luxury timepieces costing more than $8,000 at his Bozeman Watch Company. But as far as the Internal Revenue Service is concerned…he’s run out of time.
Tax

Average Joe or star athlete: The housing slump played no favorites

Rick Mahorn, former Detroit Piston and member of the 1989 NBA championship team, has hit hard times. In the last year Mahorn, 51, and his wife lost their home in Rochester Hills, Michigan, and filed Chapter 7 bankruptcy.

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