A California judge dealt a blow to Facebook this week in its ongoing battle with the Internal Revenue Service (IRS), ruling that the social media giant does not have a right to move the matter to appeals.
The IRS has alleged that Facebook has failed to comply with a 7th summons isn’t the only tax issue for the social media giant. On the same day that Facebook announced second-quarter profits of $2.06 billion, the company indicated that could be subject to additional federal income taxes of $3 billion to $5 billion.
It’s #GivingTuesday which means you might have been inspired to make a donation to a charitable organization. I’m betting, however, that your donations didn’t come anywhere close to the impressive $45 billion (give or take a few million) pledged to charitable causes today by Mark Zuckerberg, co-founder and chief executive officer (CEO) of Facebook. Zuckerberg and his…
Some Facebook users in the United Kingdom (UK) may be getting ready to put that rumored “dislike” Facebook button to use: the social media site paid just £4,327 ($6,643 US) in UK corporate tax in 2014. No, that’s not missing a few zeros. It’s really £4,327 ($6,643 US). To be clear: I paid more in…
Apple and Facebook have fired the latest round in the “perk wars” – efforts to woo and keep talent in the tech sector. Not content with fancy meals, tech companies are offering female employees the opportunity to freeze their eggs. As perks keep expanding, what are the tax consequences to those employees?
This week, Rashia Wilson received a record sentence for her role in a massive identity theft scam used to defraud the Treasury. Wilson, together with her boyfriend and colleague, used stolen identities to bilk the IRS out of nearly $20 million.
With so much happening with the Internal Revenue Service these days, you might be wondering how to keep up with it all. Clearly, keep reading taxgirl.com and Forbes.com – we’ve got you covered! But you can also follow the IRS on social media these days for the agency’s take on current issues. Here’s a quick…
When the Internal Revenue Service finally announced that it was accepting federal form 8863, Education Credits (American Opportunity and Lifetime Learning Credits (downloads as a pdf), taxpayers heaved a sigh of relief. With a delayed tax season already in play, the additional two weeks pushed filing dates out more than three weeks for up to…
(Update: We have our winners!) Our second tax trivia question is: In honor of President’s Day, this question focuses on presidential tax returns. Since Richard Nixon, almost all of our U.S. Presidents (and most presidential candidates) have reported this specific kind of additional income on their tax returns. Since it’s occasional income for our Presidents,…
Nothing to see here, folks. Despite some whisperings about a surprise meeting over the weekend between House Speaker John Boehner (R-OH) and President Obama – that did happen – there has not been an announcement that a compromise has been reached on the economy. I’m not sure where the confusion came from but folks have…