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A Democratic super PAC has come up with a new way to try to get Donald Trump’s tax information: by filing a Freedom of Information Act request with the Internal Revenue Service. Donald Trump The political action group, the Democratic Coalition Against Trump, filed the FOIA request Monday, seeking all correspondence between Trump and the […]
The Internal Revenue Service is giving victims of the recent catastrophic storms and flooding in Louisiana until Jan. 17, 2017 to file some of their individual and business tax returns and make certain tax payments. The IRS said Monday that they, along with workers who are helping with relief activities and are affiliated with a […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Wolters Kluwer Tax and Accounting said Monday the Internal Revenue Service has selected it for the 12th year in a row to provide sales tax rate and taxability tables for taxpayers. This is the first time the company has been awarded a five-year contract, though. The Chicago-area company, formerly known […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Truckers and other owners of heavy highway vehicles must, in most cases, file their next federal highway use tax return on August 31. The deadline generally applies to Form 2290 and the accompanying tax payment for the tax year that began July 1 and ends June 30, 2017. Returns must be […]
A former Internal Revenue Service employee was sentenced Wednesday to nine years and two months in jail for leading a $1 million identity theft scheme that ensnared hundreds of taxpayers. Nakeisha Hall, 40, a former employee at the Taxpayer Advocate Service, pleaded guilty in February to charges of theft of government funds, aggravated identity theft, […]
The Internal Revenue Service is unable to prevent contractors with unpaid taxes from receiving payments, according to a new report, despite legislation authorizing it to do so. The report, from the Treasury Inspector General for Tax Administration, noted that ever since fiscal year 2012, annual appropriation bills for the federal government have prohibited the IRS […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service is sounding the alarm about a new scheme in which scammers send emails purporting to come from tax software companies, instead fooling tax preparers into clicking on a link that will load malware on their computers. The email urges recipients to click on a link to […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints (Bloomberg) The Internal Revenue Service has closed an eight-year exam of about $300 million of tax-exempt bonds issued for The Villages, one of the world’s largest retirement communities, without imposing a penalty, according to a filing by the development districts that issued the debt. The Village Center Community Development District […]
For several decades, estate planners have been using entities such as family limited partnerships or family limited liability companies as an estate planning tool. The FLP or FLLC is used as a “wrapper” to hold marketable assets, which are transferred to trusts for the taxpayer’s children, while taking discounts for lack of marketability, effectively discounting […]
The Internal Revenue Service is recommending tax professionals monitor their Preparer Tax Identification Numbers for signs of suspicious activity. The IRS has been stepping up its efforts to curb identity theft and tax fraud, in part by focusing on ways to make tax preparers more aware of cybersecurity threats. At a meeting in June of […]
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