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IRS Headlines
What happens at the IRS affects all of us. To stay up-to-speed with the biggest news coming from the IRS, you’re in the right spot. In this section, you can expect to find major updates on IRS changes, new IRS policies, major IRS press releases, and more. We’ve collected it all in one place to make sure you never miss a beat. For other tax-specific questions, we’re always available—so get in touch with one of our tax specialists today through our free live chat, located to the bottom right of your screen – or by clicking here.
Category: IRS Headlines
Mar
27
Feds Crack Down on Massive Tax Evader
Nobody likes paying taxes, but an organization president who preached noncompliance with federal tax laws is now set to avoid taxes for a while as he sits in a federal penitentiary. Here is the story of this tax evader. Attempted to Pay Tax Burden wi...
Jan
18
Tax Code Stretches 4 Million Words
If you’re intimidated by the length and complexity of the U.S. Tax Code, you’re not alone. It has more than 4 million words! Length of Tax Code Criticized for Burdensome Requirements The complicated tax code was recently the target of a c...
Oct
29
Whistleblowers Reporting More Tax Cheats
Whistleblowers get a lot of goodwill. They typically report crimes that go unreported because no one knows about them, or report a massive waste of taxpayer money. But they’re also reporting more and more tax cheats. Dollars Spur Deals You can than...
Sep
04
IRS Agents Using More Legal Summons
As the IRS intensifies its efforts to investigate more of the nation’s wealthy and businesses suspected of paying too little in taxes, its agents are now flexing their legal muscles earlier in the investigative process. They are turning to legal su...
Aug
11
IRS Goes After Unsellable Artwork for $40 Million
Next time you buy a piece of artwork, make sure it’s sellable. That’s the lesson two descendants of a New York art collector are learning after inheriting a masterpiece that’s pegged with a $40 million IRS tax bill. Back Taxes Take the Vision O...
Jul
12
New Reporting Prevents Underreporting of Income
If you make your living through your client’s payments, you may have been tempted to decline a few. Then, you might underreport your income to the Internal Revenue Service. But successful underreporting of income is getting more difficult. IRS ...
May
30
Supreme Court Cuts Investigations for Tax Schemes
If you’ve ever had to work for a living chances are you probably hated one of your bosses over the years. But you’d probably think differently if that boss was a complicated tax shelter saving you millions of dollars. Enter: the Supreme Court. Wh...
Jan
31
Federal Workers Owe IRS Billions
Did you enjoy paying your income taxes last year? Looks like thousands of federal employees decided that last year’s April 15 wasn’t for them. A recent IRS report announced that 279,000 federal workers and retirees owe Uncle Sam more than $3.4 bi...
Jan
28
Taxpayers Stiff Uncle Sam Out of Millions
Taxpayers stiffed Uncle Sam $450 billion just 6 years ago, and the IRS is aiming to stop it. Taxpayers: Nearly $450 Billion Unpaid in 2006 The IRS announced that Americans underpaid their taxes by that massive figure in 2006, with the nation’s nonc...
Jan
20
Income Tax Changes on the Horizon
The IRS announced new income tax changes affecting taxpayers for 2012, and you’re more likely to notice them compared to recent years. Personal exemptions and deductions will rise, and tax brackets will expand, all because of inflation. Income Tax ...
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