IRS

Tax

Tax attorney, businessman receive prison sentences for tax fraud

The U.S. Department of Justice has announced that two men were sentenced to prison last week for their involvement in a complex tax fraud scheme devised to avoid paying federal income taxes.
Tax

Tax preparer shut down for falsely claiming first-time homebuyer credits

A federal court has permanently barred David Santiago and his business, Santiago Investment & Consulting Inc., from preparing federal tax returns for others, the Justice Department announced.
Tax

National Association of Enrolled Agents responds to proposed PTIN regulation

The National Association of Enrolled Agents has submitted to IRS leadership comments on the proposed regulations with respect to Preparer Tax Identification Numbers (PTINs).
Tax

Child stars learn that growing up can be taxing

It’s been a bad year for at least three child stars, even if they are still active in the entertainment industry. It seems fame might not be all it’s cracked up to be.
Tax

Case of the cavalier Internal Revenue Service agent

Shouldn’t an Internal Revenue Service agent know a business when she sees one – especially if she is the owner and operator?
Tax

What comes first, tax woes or competing on Dancing with the Stars?

Pamela Anderson shares something in common with a few of her fellow celebrity contestants on Dancing with the Stars. At least three others also have made headlines for being in hot water with the tax authorities.
Tax

Operation Brass Tax: Sting nets 26 tax preparers

Some tax preparers will not be celebrating the end of tax season with tropical drinks on sandy beaches. Instead, they might be viewing life from behind bars because of a recent sting operation.
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.

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