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An employee who worked in the IRS’s Taxpayer Advocate Service at a job assisting identity theft victims has instead been charged with running a $1 million identity theft tax fraud scheme. Federal officials announced arrests and charges last month against four people accused of participating in the scheme, including Nakeisha Hall, 39, an IRS employee […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints Highlights of some of our favorite tax-related blogs from the past week. In with the new Taxable Talk: Soon it’ll be time for noisemakers, champagne, confetti and the announcement of the 2015 Tax Offender of the Year. The latter isn’t easy to earn and takes, beyond fudging a 1040, “Bozo-like […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints The IRS has extended the exclusion from gross income for identity-protection services provided by employers. In Announcement 2016-02, the IRS extended the guidance provided in Announcement 2015-22 to include ID-protection services provided to employees or other individuals before a data breach occurs. In August, the IRS announced that the value of […]
(Bloomberg) Julius Baer Group Ltd., Switzerland’s third- largest wealth manager, said it expects to pay about $547 million to settle a U.S. investigation into how it helped Americans evade taxes, clearing the way for other Swiss banks to resolve similar criminal probes. The bank reached an agreement in principle with the U.S. Justice Department, the […]
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The Affordable Care Act’s employer shared responsibility (“play or pay”) penalty tax rules took effect for applicable large employers on Jan. 1, 2015. Under these rules, an applicable large employer—one with 50 or more full-time employees, including full-time equivalent employees—is subject to penalties if they offer health coverage to fewer than 70 percent of full-time […]
Receiving a tax notice from the IRS or a state department of revenue may not be what you were hoping for in the day’s mail. But in many cases the notice can be resolved both quickly and painlessly. A taxing authority such as the IRS or the Illinois Department of Revenue will issue a written […]
(Bloomberg) Five more Swiss banks, including one owned by Brazilian billionaire Joseph Safra, agreed to pay penalties to avoid prosecution for helping U.S. clients evade taxes, pushing the number of accords to 73 and total payments to more than $1 billion. Bank J. Safra Sarasin AG agreed to pay $85.8 million, Coutts Co. $78.5 million […]
document.createElement(‘aside’); http://www.accountingtoday.com Print Email Reprints (Bloomberg) The U.S. Treasury and Internal Revenue Service said they are extending some Affordable Care Act reporting deadlines to help companies meet the requirements. Employers will have two more months past February 1 to give individuals forms for reporting on offers of health coverage and the coverage provided. The deadlines […]
Highlights of some of our favorite tax-related blogs from the past week.
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