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Internal Revenue Service

IRS Will Audit 6,000 Businesses and Some May Owe Lots of Money

Jerry Chautin | Posted 05.25.2011 | Business
Jerry Chautin

.before you decide to convert all of your employees to independent contractors, you need to know the difference as defined by federal and state law. The IRS is gunning for businesses that mischaracterize employee.

Tattling For Dollars: The Ranks Of IRS Tax Informants Grows

DailyFinance | JONATHAN BERR | Posted 05.25.2011 | Business

The numbers of people who are informing the IRS about delinquent taxpayers is growing. The agency gets about 40 to 50 tips a month from ex-spouses,...

Whistleblower Birkenfeld Asks Obama For Pardon | David Voreacos | Posted 05.25.2011 | Business

Birkenfeld, 45, has asked President Barack Obama to commute a 40-month term he began in January at Schuylkill Federal Correctional Institution for his...

Is Income Inequality Increasing? | Nancy Folbre | Posted 05.25.2011 | Business

Most economists seem to agree that income inequality has increased significantly in the United States over the last 30 years. But they don't agree on ...

Americans On The MOVE | Jon Bruner | Posted 05.25.2011 | Business

More than 10 million Americans moved from one county to another during 2008. The map below visualizes those moves. Click on any county to see coming...

Money, Money, Money

Tabby Biddle | Posted 11.17.2011 | Healthy Living
Tabby Biddle

I felt so happy and responsible -- like a big lady out in the world making money, saving, investing, and putting away for my retirement. The perfect money manager.

IRS Launches Unit Aimed At Catchy Wealthy Tax Cheats

Reuters | Kim Dixon | Posted 05.25.2011 | Business

WASHINGTON (Reuters) -- Audits are underway at a new Internal Revenue Service unit set up to catch rich tax cheats hiding funds in tax shelters, but ...

Republican IRS Expansion Claims 'Wildly Inaccurate'

Jeff Muskus | Posted 05.25.2011 | Politics

With April 15 approaching, conservative hysteria about an alleged hidden cost of health care reform -- a small army of new IRS agents -- is gaining tr...

One in Three Businesses at Risk in Independent Contractor Crackdown

Jim Thomas | Posted 05.25.2011 | Business
Jim Thomas

An effort by the Treasury and Labor Departments to reclassify independent contractors as employees is projected to add $7 billion to the government's bottom line over the next ten years.

FBI Found Kenneth Starr Hiding In His Closet

Nate C. Hindman | Posted 05.25.2011 | Business
Nate C. Hindman

Kenneth I. Starr played a game of hide-and-go-seek with prosecutors Thursday morning. Accused of stealing $30 million from clients like Wesley Snipes...

Gov 2.0: Government Likes to Draw Lines and It Is Now Time to Cross Them

Christina Gagnier | Posted 05.25.2011 | Technology
Christina Gagnier

Kicking off the Gov 2.0 Expo in Washington, D.C., Bill Eggers, who coined "Government 2.0," provided context for his term: Government 2.0 is a revolution and "revolutions need heroes."

Misclassification of Workers Puts Courts, Due Process in Jeopardy for Limited English Speakers Here Legally

Louis Provenzano | Posted 05.25.2011 | Politics
Louis Provenzano

The federal Civil Rights Act requires state courts that receive federal funds (virtually all of them) to provide properly-credentialed interpreters in...

Quit Fuming at the I.R.S.

Davis Sweet | Posted 05.25.2011 | Politics
Davis Sweet

Here's the deal: The I.R.S. is not the guy pricing the menu, it's just the waitress collecting the tab. The I.R.S. has not, will not, and cannot tax you. It carries out the charge of Congress and the president

Threats Against IRS Employees On The Rise, Increased 21 Percent From 2008 To 2009

Huffington Post | Marcus Baram | Posted 05.25.2011 | Politics

This afternoon's incident at an Internal Revenue Service facility in Utah, in which several people were removed on stretchers after an "unknown substa...

Hazmat Crews Descend On IRS Building In Ogden, Utah: FBI Investigating

Posted 05.25.2011 | Home

Hazmat crews have been called to an IRS building in Ogden, Utah, according to a report by The Standard-Examiner. The newspaper reports that the build...

UBS Bank Accounts: More Than 7,500 Americans Come Forward About Secret Foreign Accounts

Anna Schecter and Brian Ross | Posted 05.25.2011 | Business

Faced with a Thursday midnight deadline to avoid possible prosecution, more than 7,500 Americans have come clean about secret foreign bank accounts, a...

Global High Wealth Industry Group Created: New IRS Brings Unit Will Target The Very Wealthy

Wall Street Journal | MARTIN VAUGHAN | Posted 05.25.2011 | Business

WASHINGTON -- A new Internal Revenue Service enforcement unit targeting the very wealthy will help the tax agency decode partnerships, offshore trusts...

Tax Deadline Nears For Americans With Offshore Bank Accounts

New York Times | LYNNLEY BROWNING | Posted 05.25.2011 | Business

Thursday is the deadline for Americans to come clean about the money they have hidden offshore, in places like Swiss bank accounts. No one can say wit...

Excessive Compensation: Your Tax Dollars at Work

Aaron Zelinsky | Posted 05.25.2011 | Business
Aaron Zelinsky

The Obama Administration recently announced pay limits for bailed-out CEOs. But unless the IRS changes its policies, taxpayers will continue to subsidize unreasonable compensation paid by publicly held corporations.

Rachel Porcaro: Mother Making $10 An Hour Told She Was Too Poor For Seattle In IRS Audit

Danny Westneat | Danny Westneat | Posted 05.25.2011 | Business

Rachel Porcaro knows she's hardly rich. When you're a single mom making 10 bucks an hour, you don't need government experts to tell you how broke you ...

Federal Reserve Has Lowest Job Approval Rating; CDC, NASA Top List: Poll

Gallup | Posted 05.25.2011 | Politics

At a time when Americans are discouraged about the direction of the country and hesitant about the scope of President Barack Obama's federal budget pl...

The Urinator and the Judge

Christopher Brauchli | Posted 05.25.2011 | Politics
Christopher Brauchli

Two federal employees have been in the news recently for criminal conduct. One is a federal judge, the other an IRS employee. Both did what they did because they thought they could get away with it.

An Open Letter to Magic Johnson

Don McNay | Posted 05.25.2011 | Business
Don McNay

Who is the real Magic Johnson? The friendly guy who raises money for charities or the guy who encourages people to get high interest loans they don't need?

IRS Seeking Credit Card Processor's Offshore Data

New York Times | LYNNLEY BROWNING | Posted 05.25.2011 | Business

The federal government is widening its investigation of offshore tax evasion to include services sold by the First Data Corporation, a large processor...

5 Reasons to Love the IRS

Dr. Susan Corso | Posted 11.17.2011 | Healthy Living
Dr. Susan Corso

It never fails to amuse me that tax time is scheduled near crucifixion time in the Christian calendar. Instead of viewing tax time as crucifixion itself, why not consider it the prelude to Resurrection?