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IRS

tax

What to Do If You Forgot to Pay Taxes

08/05/2014(0)
The IRS got more than 131 million tax returns last month. Was yours one of them? If you forgot, or didn’t file for some other reason, it’s a mistake ... Read More
PoundCoins-tax

Tax owed on full sale price where taxpayer won’t provide cost basis information

06/05/2014(0)
The Eleventh Circuit Court of Appeals upheld a deficiency notice of more than $5 million against a taxpayer who reported adjusted gross income of $22,921 and taxable income of ... Read More
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“Killer B” anti-abuse regulations are on the way

29/04/2014(0)
Recognizing that taxpayers are exploiting the rules in ways it had not intended, the IRS on Friday announced that it will amend the existing regulations on cross-border reverse triangular ... Read More
A man doing his taxes using a calculator and pencil on a white background

IRS Expects Millions of Amended Tax Returns

28/04/2014(0)
The Internal Revenue Service anticipates that nearly 5 million taxpayers will amend their returns by filing Form 1040X this year. Nearly 46 million returns were electronically filed from home ... Read More
accounting

Delinquent IRS employees paid bonuses by the agency

23/04/2014(0)
The IRS was in damage control mode Tuesday after an audit revealed that it paid bonuses to employees who were in trouble over tax issues themselves. More than $2.8 ... Read More
irs_accounting

IRS Says Bitcoin Counts as Property for Tax Purposes

26/03/2014(0)
The Internal Revenue Service issued a notice saying that Bitcoin and other virtual currencies should be treated as property for federal tax purposes and the general rules for property ... Read More
esignature

IRS clarifies: Electronic signatures permitted for Form 8879

24/03/2014(0)
Correcting an oversight, the IRS on Thursday updated the online version of Publication 1345, Handbook for Authorized IRS e-File Providers of Individual Income Tax Returns (rev. 3/20/14), to clarify ... Read More
tax_legal

Take Cover Against Tax Season Violence

21/03/2014(0)
The threat of violence against professional tax return preparers is real. According to an item in the Minneapolis StarTribune on February 28, a man accompanying a female client to ... Read More
IRS

IRS Already Received Over Half of Expected Tax Returns

21/03/2014(0)
The Internal Revenue Service said Thursday it has already received more than half of the tax returns it expects to receive during 2014, even though the filing deadline is ... Read More
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