Get Ready To Shop: State Sales Tax Holidays Are Back!
State sales tax holidays are back just in time for back to school shopping.
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Dead Men Tell No Tales: Deceased Russian Lawyer Found Guilty Of Tax Evasion
A Moscow court has ruled Hermitage Capital Management founder William Browder and his tax advisor and lawyer, Sergei Magnitsky, guilty of tax fraud. Magnitsky was found guilty posthumously; he died in prison nearly four years ago. Browder was found guilty in absentia after being forced from the country in 2006.
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As Debate Into Tax Exempt Scandal Continues, Here’s A Timeline Of Who Knew What And When
It is with regret that I will be departing from the IRS as my acting assignment ends in early June. This has been an incredibly difficult time for the IRS given the events of the past few days, and there is a strong and immediate need to restore public trust in the nation’s tax agency….
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Ending Tax Breaks On Municipal Bonds Shifts Burden To The Rest Of Us
Better check that portfolio: the Obama administration is continuing to push for limits on the tax exemption of municipal bonds. The plan was tucked away in the President’s budget introduced in April but hasn’t attracted much public attention – until now, when it appears that the cap may actually happen. Traditionally, municipal bonds have attracted…
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IRS To Remain Open For Business As Furlough Day Is Canceled
The Internal Revenue Service will remain open for business next Monday, July 22, 2013, despite a previously scheduled furlough day. The furlough was to be the fourth in a series of five furlough days this season. The first three of those days went on as planned on May 24, June 14 and July 5. On…
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Another Town Hit With Property Tax Snafu
Residents of Bel Air, Maryland, may be checking their mailboxes quite a bit this time of year looking for property tax bills. Officials have advised that all of the 4,300 property tax account bills for the town were subject to delays this month due to problems processing and mailing the bills. The bills typically show…
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Congress Threatens IRS With ‘Right-Sized’ Budget Cuts
Things just keep getting worse for the Internal Revenue Service. Last week, a House Appropriations subcommittee proposed to slash the tax agency’s budget by nearly 25% for the next fiscal year. The cuts would bring the agency’s budget to the lowest level in more than ten years. The budget, which Chairman Hal Rogers (R-KY) has…
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IRS Issues Tax Relief Reminder For Taxpayers Affected By The Boston Marathon Bombings
The Internal Revenue Service has issued a reminder that Boston area taxpayers and others affected by the Boston Marathon bombings have until Monday, July 15, 2013, to file their individual 2012 federal income tax returns and make any payments due. The relief, which was announced just days after the tragedy, applies to all individual taxpayers…
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Parents Sue School For Art Auction Gone Bad
Every parent believes that their little darling is an artistic genius – but most of us settle for putting up a couple of paintings and drawings on the fridge door. That isn’t the case for Michelle and Jon Heinemann who felt that they could put a price on their child’s artwork. The exact price of…
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IRS May Cancel Controversial Employee Bonuses – For A Price
Remember those pesky IRS bonuses? Last month, despite a directive from the Obama administration for agencies to cancel discretionary bonuses because of automatic spending cuts, the Internal Revenue Service appeared to be moving ahead with plans to distribute $70 million in employee bonuses. Now, that’s changing. Danny Werfel, who is now serving as the Acting…