Posts tagged as:

IRS

Hey Congress, Why Don’t You…? Audit Every Year

3 September 2009

Sheila Billingsley writes:
I have a controversial suggestion for Congress: audit tax returns every year.
I prepare tax returns for a large tax company. One of the biggest sources of stress for taxpayers is whether or not they will get audited. Many of them do everything right but are still very scared of an [...]

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Now THAT’S A Refund!

26 August 2009

Laura Schultz was expecting to hear from the IRS. After all, the Denver-area house cleaner owed the IRS about $80. But when she opened up a letter from the IRS, it wasn’t quite was she was expecting: a refund check for $122,783.51.
Schultz felt that it was a mistake – and it [...]

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USCIS, meet IRS. IRS, meet USCIS.

24 August 2009

In 2008, United States Attorney Laurie Magid announced that indictments had been filed against three defendants: Habeeb Malik, Ira Weiner, and Thongchai Vorasingha. The three were charged with, among other things, conspiracy to make false statements in applications to become United States citizens.
The three, Malik, Weiner and Varasingha, went before a federal [...]

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Fix the Tax Code Friday: Foreign Accounts

21 August 2009

The IRS crackdown on foreign accounts has been generating a lot of discussion in the blogosphere. Some folks argue that it’s a waste of resources, others argue that it’s been a long time coming.
Today’s Fix the Tax Code Friday question is:
Is the targeting of offshore accounts a fair use of IRS resources? Or [...]

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IRS Crackdown on UBS Continues With Indictments

21 August 2009

The IRS is making serious noise about its attempts to combat offshore tax evasion. What could be a better pulpit than its high profile UBS matter?
Just a short while after details on the UBS settlement were released, the IRS announced the indictments of a former UBS bank executive and a Swiss attorney. [...]

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IRS Plays Chicken with Taxpayers

19 August 2009

Remember that great scene in the movie Footloose when Kevin Bacon is challenged to a game of chicken on the tractor?

It seems that the IRS is playing a little chicken of its own with taxpayers…
The IRS has entered into a settlement with UBS to divulge the names of about 4,450 account holders at the Swiss [...]

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Avoid Census/Tax Scams

19 August 2009

It’s time for the Census!
According to best estimates, there are 307,216,361 people in the US as of the publishing of this blog entry. The ticker on the US Census web site was plugging along quite nicely as I was writing, so chances are, there will be a few hundred more by the [...]

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UBS Settles with IRS

12 August 2009

Um, that’s all we know. Really. I’ve been sent a trillion links on this today and despite pages and pages of content, nobody has any real details.
The IRS has requested the names of more than 50,000 US taxpayers with accounts at UBS. The Swiss bank handed over about 300 names so far. [...]

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Looking for Some Extra Cash This Summer?

9 August 2009

Are you looking for a little extra cash this summer! The IRS recently issued a reminder about unclaimed refunds… does one belong to you? Earlier this year, the IRS announced that unclaimed refunds for 2005 (the last year for which you could claim a refund as of tax day, 2009) totaled approximately $1.3 billion [...]

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IRS Offers Guidance on “Cash for Clunkers”

6 August 2009

The IRS has issued some guidance on the “Consumer Assistance to Recycle and Save” (Cash for Clunkers program).
President Obama signed the bill into law on June 24, 2009 (you can download the bill here as a pdf). It’s basically a vehicle trade-in and purchase program (leases for more than 5 years work, [...]

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