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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,...

IRS: BP Payments For Lost Wages Should Be Taxable

AP | STEPHEN OHLEMACHER | Posted 05.25.2011 | Business

WASHINGTON — The Internal Revenue Service says oil spill victims who receive BP payments for lost wages will have to pay up come tax time. Unde...

Whistleblower Birkenfeld Asks Obama For Pardon

bloomberg.com | 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?

nytimes.com | 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

forbes.com | 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.

Tax Bills Are LOWER This Year For Most Americans, Despite Rhetoric

AP | STEPHEN OHLEMACHER | Posted 05.25.2011 | Business

WASHINGTON — You wouldn't know it by the Tax Day rhetoric, but Americans are paying lower taxes this year, even with increases passed by many st...

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...

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 ...

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...

Ogden IRS Building Evacuated: 'Suspicious Substance' Found, Hazmat Called To IRS Building In Utah

AP | MIKE STARK | Posted 05.25.2011 | Home

OGDEN, Utah — A suspicious substance found at an IRS building in Ogden, Utah, on Monday is not hazardous, an official with the U.S. Postal Inspe...

Sex Change Surgery, Expenses Are Tax Deductible, Tax Court Rules

AP | DENISE LAVOIE | Posted 05.25.2011 | Home

BOSTON — The U.S. Tax Court ruled Tuesday that a Massachusetts woman should be allowed to deduct the costs of her sex-change operation, a decisi...

New Tax Deductions: The Best New Credits For 2009 Taxes

AP | By CAROLE FELDMAN | Posted 05.25.2011 | Business

...

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 ...

IRS Too Busy To Help! Agency Will Offer Busy Signal To 30% Of Callers

AP | STEPHEN OHLEMACHER | Posted 05.25.2011 | Business

WASHINGTON — Need help with your taxes? Good luck reaching the IRS. Three out of 10 people who call the toll-free help line this tax season won'...

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...

IRS Auditors Stay Away If You Earn Less Than $200,000

AP | LARRY MARGASAK | Posted 05.25.2011 | Business

WASHINGTON — Want to keep IRS auditors away? Keep your earnings under $200,000 and they won't bother you 99 percent of the time. IRS enforcemen...