News / IRS

IRS paid more than $110 billion in improper tax credits: Investigator

Source: cnbc.com - Oct 24, 2013

The Internal Revenue Service paid out more than $110 billion in tax credits over the past decade to people who didn't qualify for them, according to a Treasury report released Tuesday. The Earned... Read more >

Category: IRS

IRS Advised To Identify Timeframe For 'Real Time Tax'

Source: tax-news.com - Jun 7, 2013

by Mike Godfrey, Tax-News.com, Washington 06 June 2013 The United States Government Accountability Office (GAO) has reviewed the Internal Revenue Service's (IRS) strategy for exploring "Real Time... Read more >

Category: IRS

Republicans raise pressure on Obama over IRS targeting

Source: cnn.com - May 15, 2013

By Dana Bash and Tom Cohen, CNN updated 12:46 PM EDT, Wed May 15, 2013 Washington (CNN) -- A Republican campaign to vilify President Barack Obama's administration over Internal Revenue Service... Read more >

Category: IRS

Florida and Texas bankers sue Treasury and IRS

Source: miamiherald.com - Apr 23, 2013

By David Hendricks San Antonio Express-News The Florida and Texas Bankers Associations have filed a lawsuit against the federal government aimed at striking down a new regulation requiring... Read more >

Category: IRS

Tax revenue to hit record this year. So is spending 'the problem'?

Source: csmonitor.com - Mar 5, 2013

Tax revenue could hit $2.7 trillion, according to the Congressional Budget Office. Conservatives say this means spending cuts are the solution, but the budget numbers tell a more complicated... Read more >

Category: IRS

Tax Relief for Victims of Severe Storms, Tornadoes and Flooding in Mississippi

Source: irs.gov - Feb 18, 2013

NEW ORLEANS — Victims of the severe storms, tornadoes and flooding that took place on Feb. 10, 2013 in parts of Mississippi may qualify for tax relief from the Internal Revenue Service. The... Read more >

Category: IRS

Florida hit by

Source: news.yahoo.com - Feb 18, 2013

By David Adams | Reuters – Sun, Feb 17, 2013 MIAMI (Reuters) - Bruce Parton was only a few weeks from retirement after 30 years as a mail carrier in sunny Florida. He never lived to fulfill his... Read more >

Category: IRS

IRS To Accept Returns Claiming Education Credits by Mid-February

Source: irs.gov - Jan 30, 2013

R-2013-10, Jan. 28, 2013 WASHINGTON — As preparations continue for the Jan. 30 opening of the 2013 filing season for most taxpayers, the Internal Revenue Service announced today that processing... Read more >

Category: IRS

Tax-Free Transfers to Charity Renewed For IRA Owners 70½ or Older; Rollovers This Month Can Still Count For 2012

Source: irs.gov - Jan 23, 2013

IR-2013-6, Jan. 16, 2013 WASHINGTON — Certain owners of individual retirement arrangements (IRAs) have a limited time to make tax-free transfers to eligible charities and have them count for... Read more >

Category: IRS

IRS Announces Simplified Option for Claiming Home Office Deduction Starting This Year; Eligible Home-Based Businesses May Deduct up to $1,500; Saves Taxpayers 1.6 Million Hours A Year

Source: irs.gov - Jan 15, 2013

IR-2013-5, Jan. 15, 2013 WASHINGTON — The Internal Revenue Service today announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure... Read more >

Category: IRS

IRS Plans Jan. 30 Tax Season Opening For 1040 Filers

Source: irs.gov - Jan 8, 2013

IR-2013-2, Jan. 8, 2013 WASHINGTON — Following the January tax law changes made by Congress under the American Taxpayer Relief Act (ATRA), the Internal Revenue Service announced today it plans... Read more >

Category: IRS

IRS Announces Delayed Tax Filing Season

Source: forbes.com - Jan 8, 2013

Good things come to those who wait, right? It turns out that tax season won’t begin on January 22, 2013, after all – not that we expected as much. The Internal Revenue Service has announced... Read more >

Category: IRS

IRS aims to clarify investment income tax under healthcare law

Source: reuters.com - Dec 5, 2012

WASHINGTON | Mon Dec 3, 2012 6:14pm EST WASHINGTON (Reuters) - The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income... Read more >

Category: IRS

IRS Seeks To Return Undelivered Tax Refunds

Source: tax-news.com - Dec 3, 2012

by Mike Godfrey, Tax-News.com, Washington 03 December 2012 The United States Internal Revenue Service (IRS) is looking to return tax refunds that were not delivered earlier this year because of... Read more >

Category: IRS

Tax Reform Proposed For US Expats

Source: tax-news.com - Nov 9, 2012

by Mike Godfrey, Tax-News.com, Washington 08 November 2012 In a new tax reform proposal issued in November 2012, American Citizens Abroad (ACA) has proposed a ‘win-win solution’ that... Read more >

Category: IRS