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IRS Wins $62M GE Tax Shelter Case
You would expect a tax shelter designed to save $62 million in taxes to be complicated.?? You would be right. The Second Circuit upheld a ruling against General Electric?s financing arm that charged the conglomerate with understating its income. See??TIFD III-E Inc. v. United States. The court said the IRS was right and IRS penalties ... irs tax 08 Feb 2012
IRS Warns of Tax Identity Theft
Internal Revenue Service agents and Justice Department investigators went undercover at south Georgia tax preparation and check cashing businesses to make sure they're not stealing taxpayers' information. irs tax 08 Feb 2012
Top ten IRS tips to choose a tax preparer
Top ten tips to choose your tax preparer wisely from the Internal Revenue Service: 1. Check the preparer?s qualifications. New regulations require all paid tax return preparers to have a Preparer Tax Identification Number. In addition to making sure they have a PTIN, ask if the preparer is affiliated with a professional organization and attends continuing education classes. irs tax 08 Feb 2012
IRS Online Tool Finds Free Tax Help
The new tool, available 24 hours a day on IRS.gov, makes it easier than ever for qualified individuals to find free help through the IRS Volunteer Income Tax Assistance (VITA) program. irs tax 08 Feb 2012
TAX TIPS FROM THE IRS: How to get a copy of your tax return from a previous year
Sometimes taxpayers need a copy of an old tax return, but can't find or don't have their own records. There are three easy and convenient options for getting tax return transcripts and tax account transcripts from the IRS ? on the Web, by phone, or by mail. irs tax 08 Feb 2012
FairTax group says IRS, federal income tax must go
Imagine the month of April coming and going without filling out tax forms, logging on to TurboTax or visiting H&R Block, Jackson Hewitt or another one of the multitudes of tax preparation companies jammed with customers between January and April each year. Imagine having no IRS and no federal income tax. irs tax 08 Feb 2012
How The IRS Is Catching Taxpayers Who Underreport Retirement Income
A Treasury report highlights ways the IRS can identify more taxpayers who underreport retirement income. irs tax 08 Feb 2012