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Aug 1, 2013

Obama picks restructuring expert to take over IRS

WASHINGTON — President Barack Obama has chosen a retired corporate and government official with experience managing numerous organizations in crisis to take over an Internal Revenue Service under fire for targeting political groups. Obama said his nominee for commissioner of the tax agency, John Koskinen, “is an expert at turning around institutions in need of […]

Jun 28, 2013

Investigator: No sign progressives mistreated

WASHINGTON — The Treasury Department watchdog who detailed Internal Revenue Service mistreatment of tea party groups seeking tax-exempt status says he has no evidence the IRS also mishandled progressive groups’ applications. In a letter obtained Thursday by The Associated Press, the inspector general for tax administration, J. Russell George, acknowledged that the term “Progressives” appea[...]

May 16, 2013

House committee concerned over subpoenas to AP

WASHINGTON — The leaders of a House panel told Attorney General Eric Holder on Wednesday that they had serious concerns about the Justice Department’s gathering of phone records at The Associated Press. Rep. Bob Goodlatte, R-Va., chairman of the House Judiciary Committee, said he worries about any infringement on freedom of the press in light […]

Apr 9, 2013

IRS takes steps to combat identity theft

WASHINGTON — The 2014 budget proposal to be released by the White House on Wednesday will include new steps to combat what the Internal Revenue Service says is an exponential growth in tax refund-related identity theft. A preview of the measures provided by administration officials Tuesday includes increasing criminal sentences for those convicted of tax-related […]

Feb 7, 2013

IRS cracking down on ID theft, tax fraud

MIAMI — With tax filing season heating up, an aggressive Internal Revenue Service crackdown is targeting the growing problem of criminals who use stolen identities to seek tens of thousands of dollars in fraudulent tax refunds. Acting IRS Commissioner Steven T. Miller said Thursday that a January sweep in 32 states and Puerto Rico identified […]

Oct 31, 2012

IRS extends deadline for storm-hit taxpayers

WASHINGTON — The IRS is giving taxpayers and tax preparers hit by Hurricane Sandy an extra week to file returns and make payments. The tax agency says the relief will apply mainly to businesses in the storm-impacted Northeast and Mid-Atlantic states whose payroll and excise tax returns and payments are normally due on Wednesday. The […]

Oct 2, 2012

IRS eases access to resources online

NEW YORK — The Internal Revenue Service has been revamping its website and has created pages to help small business owners quickly find information and forms they need.   One page, called Recommended Reading for Small Businesses, is a compilation of links to IRS publications on complex topics like starting a business, retirement plans, business […]

Aug 2, 2012

IRS missing billions in ID theft

WASHINGTON — The Internal Revenue Service may have delivered more than $5 billion in refund checks to identity thieves who filed fraudulent tax returns for 2011, Treasury Department investigators said Thursday. They estimate another $21 billion could make its way to ID thieves’ pockets over the next five years. The IRS is detecting far fewer […]

May 27, 2012

IRS makes changes to OIC program

For the past few years, many tax professionals have been asking the Internal Revenue Service to revise and modernize programs, such as the Offer-in-Compromise, to reflect a depressed economy and help taxpayers with an ever increasing tax burden. Last week, the IRS announced it has changed the OIC program and the installment agreement procedure to […]

Apr 9, 2012

New tax requirement is cost basis of stock sales

It’s crunch time for certified public accountants, tax preparers and do-it-yourselfers who have some unique challenges to deal with.  A new IRS requirement for the 2011 tax season requires brokerage firms and financial institutions to determine the cost basis of stock sales. Previously, investment custodians only reported the gross proceeds of a sale to the […]

Mar 21, 2012

IRS offers info on small business health care credit

With business tax-filing deadlines fast approaching, the Internal Revenue Service is encouraging small employers that provide health insurance coverage to their employees to check out the small business health care tax credit and then claim it if they qualify. The recently-revamped Small Business Health Care Tax Credit page on is packed with information and […]

Feb 9, 2012

IRS unveils new version of smart phone tax help app

The Internal Revenue Service has released IRS2Go 2.0, an expanded version of its smart phone application to provide taxpayers easier access to practical tools and information. The new app, available on the Apple and Android platforms, adds a new YouTube feature, news feed and tax transcript service in addition to existing tools, such as checking […]

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