The IRS will formally issue furlough notices to its employees during the week of May 27. The furlough will take place this summer, consisting of five days of unpaid leave during the summer.
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One or more individuals are likely still reeling this morning at having purchased the winning lottery ticket in the Powerball jackpot this past Saturday night. They can also expect to reel when they receive the tax bill from the IRS.
New details were released this week on the IRS programs involved in requiring conservative groups to undergo additional levels of scrutiny to obtain tax-exempt status, which made it clear the extent of the treatment was far more extreme than first reported. (more…)
A spokesperson for the IRS has admitted that the agency took inappropriate measures during the Presidential election in November 2012 to review the tax-exempt status of certain conservative political groups. (more…)
On Monday, the Senate voted to pass a bill that would give each state the power to enforce its sales tax laws against online retailers. (more…)
While the United States Supreme Court has ruled that ObamaCare is legal from a constitutional standpoint, implementation of ObamaCare may not be so easy at the state level. (more…)
A recent poll conducted by the Kaiser Family Foundation indicated that 4 out of 10 individuals believe ObamaCare has not been signed into law. In addition, of those who do understand that ObamaCare is a law that takes effect in 2014, 5 out of 10 indicated they did not understand what ObamaCare will mean for their family. (more…)
An amnesty program enacted by the IRS for tax filers who were not reporting foreign income has netted the IRS over $5.5 billion in unpaid tax revenue. (more…)
It is nearing the end of April, almost two weeks after federal and state income tax returns were due on April 15. Hopefully, that means you have filed your income tax and paid any taxes you owed, or perhaps you are now waiting on a refund
But what if you have not filed your income tax for 2012 and you did not bother to file an extension? Should you just sit back and wait for the IRS to contact you? Read on to learn more. (more…)
With a vote by the United State Senate on Monday, lawmakers are a step closing to putting legislation in place that would allow every state to impose sales tax on most online retailers.
