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IRS Furlough of Five Days Scheduled for Summer

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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Powerball Lottery Winner to Pay over $150 Million in Taxes

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.

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IRS Delays for Conservative Groups Greater Than Reported Initially

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…)

IRS Targeted Conservative Groups for Inappropriate Reviews

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…)

Senate Vote Passes Online Sales Tax Bill

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…)

South Carolina House Passes Bill Nullifying ObamaCare

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…)

ObamaCare Unveils Simplified Forms, as Poll Shows Many Americans Still Confused

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…)

Amnesty Program for Tax Cheaters Allows IRS to Net $5.5 Billion

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…)

Now Better Than Later When It Comes to Late Tax Filing

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…)

Senate Takes Step Closer to Imposing Sales Tax on All Online Vendors

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.

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