It’s been a few months now since Congress passed a bill to require the IRS to use private debt collectors in certain cases. The National Taxpayer Advocate and other critics contended that the bill was not a good idea because two previous efforts to use private industry to collect tax […]
Category: IRS
Are you a resident of Houston? Because of historic flooding that started on April 17, the IRS is giving you until September 1, 2016 to file your tax return and pay your taxes. This announcement followed a Federal Emergency Management Agency disaster declaration. Affected taxpayers in Fayette, Grimes, Harris and […]
Let’s conclude our two-part post on taxes and the Affordable Care Act (ACA or Obamacare). In the first part of this post, we outlined the ways in which you can show the IRS that you are in compliance with the new requirement to have at least “minimal essential” health insurance […]
The IRS didn’t ask for the role of compliance monitor for the Affordable Care Act (ACA or Obamacare). In practice, however, that is what Congress has asked the IRS to do. It’s a role that comes with many responsibilities. In this two-part post, we will explore some of them. Let’s […]
Filing season for federal taxes began this week. The IRS expects to receive more than 150 million returns by the April 18 filing deadline. Some early birds have already filed. But if you are still waiting for your W-2 or a 1099 (or multiple 1099s), you are not alone. In […]
Following budget cuts in the recent spending bill approved by Congress, the Department of Justice has suspended its controversial asset forfeiture “equitable sharing” program. The program has made headlines in recent years due to accusations that law enforcement is motivated more by profit than by an actual desire to impede […]
The Internal Revenue Service has released a draft version of the form that will be used by foreign financial institutions (FFIs) to report information about U.S. accounts under the terms of the Foreign Account Tax Compliance Act (FATCA). Passed into law in 2010, FATCA requires foreign financial institutions to report […]
The IRS has added four more foreign financial institutions to its list of “Foreign Financial Institutions or Facilitators.” Those who had accounts at one or more of these institutions are required to pay an increased penalty of 50% if they wish to participate in the Offshore Voluntary Disclosure Program (OVDP). […]
A great deal can be at stake for a person when they are the subject of a tax investigation by the Internal Revenue Service. Thus, an under-investigation taxpayer may feel a great deal of fear and worry about the whole investigative process. One of the actions the IRS will sometimes […]
California’s Division of Labor Standards Enforcement (DLSE) recently held that an Uber driver is an employee, rather than an independent contractor, in a decision that could have far-reaching ramifications for the popular and quickly expanding app-based car service. Uber has appealed the ruling. There are many advantages to a business […]