“All we can do is try to maximize our services as well as we can; as well as we can is still going to be miserable. You really do get what you pay for.” That was the word from Internal Revenue Service (IRS) Commissioner John Koskinen last year as he described the challenges the agency…
The Coca-Cola Company announced today that it may owe $3.3 billion in additional federal income taxes. In a form 8-K filed with the U.S. Securities and Exchange Commission, the company revealed that following a five year audit for the tax years 2007 – 2009, the Internal Revenue Service (IRS) issued a Notice of Deficiency claiming…
Nobody, it seems, is a fan of the current Internal Revenue Code. Yesterday, however, presidential hopeful Sen. Rand Paul (R-KY) took to a California gun range to literally blow away our current tax system. Sen. Paul shot about 10 shots into boxes holding the approximately 80,000-page long Tax Code using a modified AR-15. Calling it…
Owe $100 million or more to the Internal Revenue Service (IRS)? Better write that check now. The latest edition of the Internal Revenue Bulletin, Bulletin No. 2015–36, dated, September 7, 2015, has this to say about the Federal Revenue’s new check policy. The Federal Reserve will not accept checks that are larger than $99,999,999.00 and…
If you were planning to get a little bit of tax work done over the weekend, you might be out of luck. The Internal Revenue Service (IRS) is conducting its annual Labor Day maintenance this weekend. As a result, there will be an outage for certain IRS systems and services, including e-services (Transcript Delivery System,…
Just a few weeks remain until Pope Francis’ historic visit to Philadelphia. It’s not only Pope Francis’ first time in Philadelphia but his first official visit to the U.S. While the Pope will also be making stops in Washington, D.C. and New York City, the focus of his visit is the City of Brotherly Love…
“What should have been a trustworthy digital service had been compromised and is yet the latest sign that the U.S. Government cannot be relied upon to keep the personal data of its citizens safe.” That’s the allegation made this week in a lawsuit filed by plaintiffs Beck Welborn and Wendy Windrich, individually and on behalf…
The Internal Revenue Service has issued a statement regarding additional reports of unauthorized access of taxpayer information using the “Get Transcript” application. Follows is the statement in full: Following an incident involving the IRS’s “Get Transcript” web application discovered in May, the IRS conducted an extensive review covering the 2015 filing season to assess whether…
There’s no question that identity theft is a problem in the United States. A 2015 study released by Javelin Strategy & Research found that there were 12.7 million victims of identity theft in the U.S. 2014. That works out to a new identity fraud victim every two seconds. Identity theft has topped the list of…
Internal Revenue Service (IRS) Commissioner John Koskinen, leading tax partners and state tax administrators have announced new steps to protect taxpayers from identity theft tax fraud, including a new collaborative effort between public and private sectors to protect taxpayers and their tax returns. The announcement was made at a press conference held earlier today, just…
