IRS to help homeowners refinance or sell homes
WASHINGTON – The Internal Revenue Service said Tuesday it will try to make it easier for homeowners in financial straits to refinance or sell their homes. More ...
IRS Announces Two New Appeals Programs
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January, 17 2008, Internal Revenue Service
Fiscal Year 2007 Enforcement and Services Results
The IRS continues to make strong progress in a number of key enforcement areas. The IRS is showing consistent improvements in areas critical to maintaining a fair, efficient tax system while bringing billions of additional dollars into the Treasury. At the same time, the agency continues to improve service to taxpayers. More ...
January, 12 2008, Internal Revenue Service
Tax Return Preparer Fraud
Return preparer fraud generally involves the preparation and filing of false income tax returns by preparers who claim inflated personal or business expenses, false deductions, unallowable credits or excessive exemptions on returns prepared for their clients. This includes inflated requests for the special one-time refund of the long-distance telephone tax. Preparers may also manipulate income figures to obtain tax credits, such as the Earned Income Tax Credit, fraudulently. More ...
October, 26 2007, Internal Revenue Service
IRS to Hold Workshops for Small and Mid-Sized 501(c)(3) Exempt Organizations
The Internal Revenue Service today announced that it is offering one-day workshops for small and mid-sized section 501(c)(3) exempt organizations during fall and winter 2007 and spring 2008. More ...
October, 19 2007, Internal Revenue Service
Poker Tournament Winnings Must be Reported to the IRS
Starting next year, casinos and other sponsors of poker tournaments will be required to report most winnings to winners and the Internal Revenue Service, according to the IRS. More ...
Septemer, 17 2007, Internal Revenue Service
Special Web Section Unveiled for Homeowners Who Lose Homes; Foreclosure Tax Relief Available to Many
The Internal Revenue Service unveiled a special new section today on IRS.gov for people who have lost their homes due to foreclosure. The IRS also reassured homeowners that, although mortgage workouts and foreclosures can have tax consequences, special relief provisions can often reduce or eliminate the tax bite for financially strapped borrowers who lose their homes. More ...
Septemer, 11 2007, Internal Revenue Service
Back-to-School Tax Breaks Help Teachers Pay Classroom Costs; Aid Parents, Students With College Tuition
With the new school year now under way, the Internal Revenue Service today reminded teachers, parents and students that saving receipts and keeping good records can help them take advantage of various education-related deductions and credits on their 2007 federal income tax return. More ...
August, 29 2007, Internal Revenue Service
GM Hybrids Still Qualify for Tax Credit
The Internal Revenue Service announced that purchasers of qualified General Motors Corp. hybrid vehicles may continue to claim the Alternative Motor Vehicle Credit. More ...
August, 28 2007, Internal Revenue Service
Honda Hybrids Still Qualify for Tax Credit
The Internal Revenue Service announced that purchasers of American Honda Motor Company, Inc., qualified vehicles may continue to claim the Alternative Motor Vehicle Credit. More ...
August, 23 2007, Internal Revenue Service
Nissan Hybrid Still Qualifies for Tax Credit
The Internal Revenue Service announced that purchasers of qualified Nissan North America Inc. vehicles may continue to claim the Alternative Motor Vehicle Credit. More ...
August, 21 2007, Internal Revenue Service
Phone Customers Can Still Request Excise Tax Refund, IRS Says
Telephone customers can still request this year’s one-time excise tax refund, according to the Internal Revenue Service. More ...
August, 6 2007, Internal Revenue Service
Purchasers of Ford Hybrids Still Qualify for Tax Credit
The Internal Revenue Service announced that purchasers of qualified Ford Motor Company vehicles may continue to claim the Alternative Motor Vehicle Credit. More ...
July, 19 2007, Internal Revenue Service
IRS Releases Interim Report on Tax-Exempt Hospitals and Community Benefit Project
The Internal Revenue Service released an interim report summarizing responses from almost 500 tax-exempt hospitals to a May 2006 questionnaire about how they provide and report benefits to the community. Providing community benefit is required for hospitals seeking and retaining tax-exempt status as charities. More ...
July, 12 2007, Internal Revenue Service
IRS to Notify Small Tax-Exempt Organizations of New Information Reporting Requirement
The Internal Revenue Service today announced that it began mailing educational letters this month to more than 650,000 small tax-exempt organizations that may be required to submit a new annual notice, Form 990-N, "Electronic Notice (e-Postcard) for Tax-Exempt Organizations Not Required to File Form 990 or 990-EZ." More ...
Federal Workers Owe Billions in Back Taxes
More than 450,000 federal workers and retirees owe a total of $3 billion in back taxes, prompting the top Democrat and Republican on the Senate Finance Committee to urge President Bush to put more effort into collecting from delinquent government employees. More ...
National Taxpayer Advocate Releases 2006 Report to Congress: Stresses Need for Action on AMT and Tax Gap; Focuses on IRS Collection and Transparency
WASHINGTON, Jan. 9, 2007 — National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, designating the alternative minimum tax for individuals (AMT) and the federal tax gap as the most serious problems facing taxpayers. The report also focuses extensively on concerns about IRS collection policies and the transparency of IRS information to the taxpaying public. More ...
IRS Reminds Businesses to Classify Workers Correctly
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IRS Updates Tax Gap Estimates
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IRS and States Join Forces to Combat Money Laundering
WASHINGTON, April 27, 2006 — The Internal Revenue Service announced today agreements with 33 states and Puerto Rico to begin sharing Bank Secrecy Act (BSA) information. The agreements will allow the IRS and the participating states to share information and leverage their resources to ensure that money services businesses (MSBs) are complying with their federal and state responsibilities to register with the government and report cash transactions and suspicious activities. More ...