Tax News

Income Tax Settlement More Likely This Year, According to IRS

March 10, 2010

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… Read More

Crow Creek Sioux Tribe Buys Back Land IRS Seized & Auctioned

March 1, 2010

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. Read More

IRS Wants Quotes for Remington Model 870 Shotguns

February 3, 2010

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… Read More

Sinbad Owes Over $8 Million in Back Taxes

December 19, 2009

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… Read More

Federal Employees Owe Over $3 Billion in IRS Back Taxes

December 14, 2009

Federal employees this year owe around Read More

IRS Creates Global High Wealth Unit & Adds More Offices Worldwide

December 14, 2009

The IRS received a budget increase from President Obama and congress to help with tax compliance earlier this year. The IRS is using those funds wisely. Doug Shulman,… Read More

Symantec Wins Tax Case – Not Responsible for IRS Back Taxes

December 11, 2009

Symantec, the major computer security firm, won a case in US Tax Court against the IRS saving it around $545 million. The IRS stated that Symantec should be… Read More

Making Work Pay Credit Will Most Likely Cause IRS Back Taxes

November 19, 2009

At the beginning of this month, the Treasury Inspector General released a report describing the negative effect that reduced withholding associated with the Making Work Pay Credit (MWPC)… Read More

UBS vs. IRS Update – Client Selection for UBS Case

November 17, 2009

As many know, the IRS released today the criteria or characteristics being used by UBS to report American clients evading taxes. In August, UBS agreed to hand over… Read More

Wu-Tang Clan’s Method Man Arrested for Owing $33K in Back Taxes

October 5, 2009

Clifford Smith (aka Method Man) of the Wu-Tang Clan has been avoiding paying his taxes as far back as 2004. Today at 8 a.m., Method Man went to… Read More