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(Bloomberg) Facebook Inc. officials failed to show up after getting seven summonses from the Internal Revenue Service demanding internal corporate records on one of its offshore tax strategies, according to an IRS court filing. U.S. authorities are examining Facebook’s federal income tax liability for the period ending Dec. 31, 2010 and are looking at whether […]
The Internal Revenue Service spent $10.71 million on guns, ammunition and other military-style equipment from fiscal year 2006 to FY 2014, according to a new report. The report, from an advocacy group known as American Transparency, describes the spending by various non-military federal agencies, including the IRS, the Environmental Protection Agency, and the Animal and […]
The summer has started and summer camp bills have been paid. Summer camp is a great way to keep our children busy and looked after while we are working. But it comes at a steep price. Summer camp costs are, on average, about $300 per week. And for our children who are graduating from high […]
Internal Revenue Service employees file more than 800 new injury claims each year, according to a new report. The report, from the Treasury Inspector General for Tax Administration, found the majority of IRS employee injuries can be attributed to accidents such as slips, trips and falls. For most of the accidents, the IRS can do […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. Mother lodes Mauled Again: Life holds few moments more exciting than moving in together, except maybe actually buying the home together. Life holds other exciting moments, too, such as the recent case Jackson v. Comr., which demonstrated why couples […]
The Internal Revenue Service has released new guidance on how foreign financial institutions can enter into a Qualified Intermediary agreement with the U.S. under the Foreign Account Tax Compliance Agreement, or FATCA. Denise Hintzke Notice 2016-42, released earlier this month, outlines the proposed QI agreement, which revises and updates the current agreement in Rev. Proc. […]
The Internal Revenue Service sent notices of federal tax liens to old addresses of some taxpayers even when it had a more current address, according to a new report. The report, from the Treasury Inspector General for Tax Administration, is an annual report on the IRS’s compliance with due process procedures for federal tax liens. […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The Internal Revenue Service has restored the online “Get an IP PIN” service after fixing security vulnerabilities in the tool for giving identity theft victims an Identity Protection Personal Identification Number. The IRS suspended the service in the midst of tax season this year after discovering that several identity theft […]
National Taxpayer Advocate Nina Olson’s Objectives Report to Congress, delivered in early July, continued her examination of the Internal Revenue Service Future State plan, which she initially cited in her 2015 Annual report to Congress as the “No. 1 Most Serious Problem” for taxpayers. NTA Nina Olson The Future State plan of the IRS envisions […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. At your Service Taxable Talk: A lucky guy from a country that has no tax treaty with the U.S. won $100,000 in a recent World Series of Poker. The hosting casino withheld 30 percent of that for the […]
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