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TAX LAW NEWS - TAX LITIGATION
From the category archives:
The Internal Revenue Service estimates that U.S. companies and individuals failed to pay $385 billion in taxes they owed in 2006, an increase from $290 billion five years earlier.
The agency said the rate of compliance remained almost unchanged at 85.5 percent, down slightly from 86.3 percent in 2001. The IRS announcement today is the first [...]
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Big donors like David H. Koch and George Soros may owe taxes on their millions of dollars in contributions to nonprofit advocacy groups that are playing an increasing role in American politics.
The Internal Revenue Service confirmed on Thursday that it had sent letters to five donors, who were not identified, informing them that their contributions [...]
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Taxpayers who have not accurately reported and paid taxes on international business structures, foreign financial accounts, holdings and properties are at greater risk than ever of fines and prosecution. For U.S. taxpayers living or doing business abroad, Uncle Sam can be the shadowy figure of nightmares, lurking behind doors, ready to pounce, potentially subjecting them [...]
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The IRS has needed to deal with several challenges this tax filing season, including late tax law changes and an increase in the volume of telephone calls, according to a new report by the Government Accountability Office, but to ensure that IRS can adequately enforce certain tax provisions, Congress should provide the IRS with math [...]
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The Internal Revenue Service started processing itemized tax returns Monday. This comes after last year’s tax law changes. The IRS needed the extra time to update it’s systems to make changes without getting in the way of other operations tied to filing season.
The IRS began processing both paper and e-filed returns on Monday. People using [...]
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WASHINGTON — The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit to the Industry Issue Resolution (IIR) program tax issues for resolution involving a controversy, a dispute or an unnecessary burden on business taxpayers.
The objective of the IIR program is to resolve business tax issues [...]
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The Supreme Court’s decision this year in Citizens United, which lifted campaign spending restrictions for companies and interest groups, has indirectly thrust the Internal Revenue Service into the more prominent role of overseeing those expenditures.
The ruling largely tied the hands of the Federal Election Commission to force companies or groups that are funding political or [...]
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More than 150 local nonprofits, including popular charities, volunteer fire departments, Knights of Columbus and American Legion groups, will have their tax-exempt status revoked in October if they don’t file a tax form with the Internal Revenue Service.
That’s because the Pension Protection Act of 2006 requires even the smallest nonprofit groups to have filed a [...]
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WASHINGTON — The Internal Revenue Service today announced that starting with next year’s tax filing season it will no longer provide tax preparers and associated financial institutions with the “debt indicator,” which is used to facilitate refund anticipation loans (RALs).
“As we prepare for tax season every year, we look at past practices and consider whether [...]
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WASHINGTON — The Internal Revenue Service today released proposed regulations that would establish a fee for individuals who apply for a preparer tax identification number (PTIN). Proposed regulations that were issued in March would require certain tax return preparers to obtain a PTIN. The IRS is working to finalize those proposed regulations, which are the [...]
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