The IRS had pledged to be more flexible with taxpayers this year by easing standards or rules on various tax settlements including an Offer In Compromise. The IRS will be offering guidance online, and through IRS office on Saturdays as well to help cash-strapped taxpayers and the unemployed.
Filed under: Tax News | Comment (0)
The Crow Creek Sioux Tribe which had land seized and auctioned by the IRS last December has settled and obtained a loan to pay back the IRS.
Filed under: Tax News | Comment (0)
Joe Stack in Austin, TX set his house on fire then flew a single-engine plane into a building in Austin that houses Federal offices including an IRS office. The motive of the crash seems to be attacking the IRS due to the fact that he set his house on fire and left a suicide note [...]
Filed under: Tax News | Comment (0)
Have you ever wondered how much power the IRS actually has? The fact that the IRS is requesting quotes to buy sixty 12 gauge pump action shot guns for their Criminal Investigation Division should tell you how much power they have. Do they really need shotguns to enforce taxes? I can understand police using guns [...]
Filed under: Tax News, Tax Opinion | Comment (0)
The IRS has announced a new way for taxpayers to receive their refunds. Instead of receiving cash taxpayers will be able to receive up to $5,000 in US Series I Savings bonds. Does this sound like a way for government to keep funding its massive stimulus?
Filed under: Tax News | Comment (0)
New York State, in an effort to recoup state back taxes and increase revenues in this tough economy has implemented a program called “PAID” which stands for the “Penalty and Interest Discount” Program. Basically, NY taxpayers have until 3/15/10 to make tax payments on NY back taxes owed in order to reduce penalties and interest that have accrued. Here are some of the details in terms of savings:
Filed under: Tax News | Comment (0)
Last summer the North Carolina tax office put into effect a plan to collect money that was overdue. Fortunately, the effort went much better than planned and the state now has enough money to make up for a revenue shortfall. By going after corporate entities that owed back taxes and tax penalties, Revenue Secretary Kenneth Lay said that more than $427 million was collected from 236 entities.
Filed under: Tax News | Comment (0)
There are thousands of Philadelphians with unpaid taxes. Among them are roughly 400 city employees and this is not uncommon as we reported in December how 276,000 federal employees owed back taxes.
Filed under: Tax News | Comment (0)
Sinbad (David Adkins), known for being a stand up comedian and actor, is having some serious financial problems. On December 11th Sinbad filed for chapter 7 bankruptcy and reported that he had between $11 million and $49 million in liabilities. Of those liabilities it is reported that he owed $8.2 Million in Federal back taxes.
Sinbad [...]
Filed under: Celebrities, Entertainment, Tax News | Comment (0)
Federal employees this year owe around
Filed under: Tax News | Comment (0)