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document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints A former Internal Revenue Service agent has been convicted in a federal court in Seattle for receiving a bribe from a marijuana dispensary owner. Paul G. Hurley, 43, of Seattle, was convicted on two felony counts last Friday following a two-day trial (see Former IRS Agent to Be Tried for […]
(Bloomberg) The New York hedge-fund manager Robert Mercer, one of the biggest conservative donors in the country, has been funding a group that’s paying for a Tea Party lawsuit against the Internal Revenue Service and seeking to sharply limit the role of the federal government. Mercer’s family foundation gave $500,000 in 2014 to a group […]
The Internal Revenue Service has filed a tax lien for $4,628,928.55 against Martin Shkreli, the former CEO of Turing Pharmaceuticals who hiked the price of a lifesaving medication produced by the company by 5,000 percent. Martin Shkreli (Photo: Pete Marovich/Bloomberg) The IRS prepared the tax lien against Shkreli on December 18, a day after the […]
Many major tax changes go into effect this year for individual taxpayers. Many of the changes were ushered in by the Protecting Americans from Tax Hikes (PATH) Act of 2015, although legislation enacted earlier in 2015 and in 2014 also contributed a fair share. Still other changes are the result of various administrative pronouncements by […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints An influential senator is asking the Internal Revenue Service to put a system in place to track the specific sources of unpaid corporate taxes. Ron Wyden Senate Finance Committee ranking member Ron Wyden, D-Ore., wrote to IRS Commissioner John Koskinen urging the IRS to establish such a system in advance […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has again delayed the deadline for reporting the basis of property distributed from the estate of a decedent until March 31. Notice 2016-19 provides that statements required under section 6035 of the tax code, regarding the basis of property distributed from the estate of a decedent, […]
The Internal Revenue Service nearly doubled the amount of money it paid to tax whistleblowers last year and is taking steps to make the process move faster. Lee Martin A new report from the IRS Whistleblower Office indicated the total amount of awards paid in fiscal year 2015 increased to $103,486,677 from over $52,281,628 in […]
An Internal Revenue Service employee who worked for the Taxpayer Advocate Service, where her job was to help taxpayers resolve their identity theft problems, pleaded guilty to stealing identities and orchestrating a tax-fraud scheme involving up to $1.5 million in fraudulent income tax returns. Nakeisha Hall, 39, entered her guilty pleas Monday before U.S. District […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Two little words Mauled Again: Just two words for the IRS in the wake of its processing systems recently (and maybe a little mysteriously) becoming “unavailable.” One of the words is “back.” The other is “ups.” Backtaxeshelp: People […]
The Treasury Department’s inspector general is pressing the Internal Revenue Service in a new report to improve its procedures for direct debt installment agreements to avoid taxpayer defaults. The report, from the Treasury Inspector General for Tax Administration, noted that direct debit installment agreements give taxpayers a convenient way to make payments on their installments […]
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