IRS

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.

Deadly tax protest in Texas

After decades of frustration with the tax system and accountants he called “incompetent,” a Texas man turned his torment into a suicidal attack. On February 18th at 9:56 am, Joseph Stack took a page from the 9/11 terrorists and crashed a light plane into an IRS office in Austin, TX, as a final protest.
Tax

California woman racks up hotel bills posing as IRS agent

A woman who amassed more than $55,000 in debt to a Marin County, CA, hotel by posing as an Internal Revenue Service agent has been charged with impersonating a federal employee.
Tax

Former IRS employee pleads guilty to accepting bribe

A former Dallas IRS employee has pleaded guilty to taking a $2,000 bribe from a taxpayer in return for a promise that the IRS would not audit the taxpayer's return.
Tax

IRS outlines ambitious plan to regulate paid tax preparers

The Internal Revenue Service in a report published on Monday announced that it will require all paid tax return preparers to register with the Service using a Preparer Tax Identification Number (PTIN). Preparers will be subject to ethical standards and disciplinary action and monetary penalties of Treasury Department Circular 230.
Tax

Make an offer that the IRS can't refuse

It is essential to do the math before deciding to pursue an Offer in Compromise, else you will not only waste valuable time but may incur thousands of dollars in costs.
Tax

Treasury inspector says Hope Credit gave away hundreds of millions improperly

The federal Hope Credit is intended to make the first two years of college universally available. However, it appears that the regulations are not effective to ensure the credit is claimed properly.
Tax

IRS will try to sell e-filing to tax professionals

Tax professionals can hear first hand from their colleagues and e-mail questions to the Internal Revenue Service about the benefits of IRS e-file during a free Webinar.
Tax

7,500 accept IRS amnesty, speculation program might be extended

The IRS is proudly announcing that it was able to gather up 7,500 volunteers in its international tax evasion net.
Tax

Amnesty deadline looms for offshore account holders

There is still time for taxpayers who have failed over the years to report income in foreign bank accounts to participate in the IRS Voluntary Disclosure program.
Tax

Former IRS agent convicted of filing false tax returns

A former revenue officer at the IRS and owner of a tax preparation business in Inglewood, CA, was convicted last week of conspiracy to defraud the United States by filing false tax returns.
Tax

TIGTA reviews IRS Tax Exempt/Government Entities anti-fraud program

The Treasury Inspector General for Tax Administration has released its review of the Internal Revenue Service's (IRS) efforts to increase the effectiveness of the Tax Exempt/Government Entities (TE/GE) Division's anti-fraud program.

Pages


Already a member? log in here.