Tuesday, May 14, 2013
Officials say the head of the government office knew his agency was targeting tea party groups in May 2012. Tell us what you think of the agency’s recent admissions.
It’s bound to be no party for Internal Revenue Officials in the coming days. The Associated Press reported Monday that IRS officials revealed that acting IRS Commissioner Steven T. Miller knew back in May 2012 that the agency had targeted tea party groups by unfairly investigating them to see if they were violating their tax-exempt status. Monday’s revelation came on the heels of last week’s acknowledgment by the agency that the groups had been targeted during the 2012 election season. Organizations that faced IRS scrutiny included those that had “Tea Party” or “Patriot” in their names. According to the AP’s report, about 300 groups were singled out for additional review; while about half of those cases had been closed and no group had …
Sunday, February 17, 2013
The Internal Revenue Service reports experiencing high traffic on its online “Where's My Refund?” tool.
The deadline to file tax returns isn't until April but taxpayers appear to be filing early and are already asking, Where's my refund?" “Due to the large number of inquiries and to avoid service disruptions, the IRS strongly urges taxpayers to only check on their refunds once a day,” the IRS said, according to a report by Accounting Today. “IRS systems are only updated once a day, usually overnight, and the same information is available whether on the Internet, IRS2go smartphone app or on IRS toll-free lines. While 'Where's My Refund?' is updated nightly, your account will not change that frequently.” According to the report, nine out of 10 taxpayers typically receive refunds in less than 21 days when they use e-file with direct deposit. …
Sunday, February 10, 2013
Read tips on how to protect yourself.
DailyFinance.com calls tax identity fraud a "specialized and sophisticated form of theft." According to a post on the site, thieves are stealing year-end statements, W-2s and other income information to file returns on victims' behalf. The report says that during the 2011 tax processing year, roughly 940,000 tax returns were filed fraudulently, and this year, that number will likely increase to 1 million. How do you protect yourself? First, shred any paperwork you don't need for tax preparation. Second, be wary of a slow-running computer or out-of-place pop-ups when filing taxes online. Also, be suspicious of any phone calls or e-mails claiming to be from the IRS, even with the appropriate logos. According to the IRS website: "The IRS …
Saturday, February 9, 2013
According to new rules released last week by the IRS, by 2016 you might have to.
Saturday, February 9
Some conservative news organizations have taken a close look at new rules released by the IRS on Jan. 30 on the new health care regulations and found them wanting … wanting much more, in fact, by 2016. According to Breitbart.com, the IRS estimates that by 2016 the cheapest Obamacare plan will cost $20,000 for a family of five. That would be for a bronze plan. Other plans offered go up from there to silver, gold and platinum. The IRS used as an example a family of five earning $120,000 a year. If no family members had insurance, they would be subject to a “shared responsibility” penalty putting them into the Bronze plan. The tax penalty for that is $2,400 a month or $20,000 a year. Read the IRS regulations here. Alert, there is a lot of …
Wednesday, January 16, 2013
Authorities say the man sought to defraud the IRS out of more than $3.4 million.
Wednesday, January 16
Arnold Tobias Gervais, 34, of Marietta, pleaded guilty Wednesday in federal court to charges arising out of a scheme to defraud the IRS out of more than $3.4 million in federal income tax refunds while he was in state custody. “Those who cheat the IRS take money away from everyone who pays his or her fair share of taxes,” said United States Attorney Sally Quillian Yates in a news release Wednesday. “The United States Attorney’s Office and the IRS are on the lookout for tax cheats and will aggressively pursue those individuals who try to beat the system.” “One of the many ways that IRS Criminal Investigation protects taxpayer money involves identifying, investigating and prosecuting those who file fraudulent refund claims,” Special Agent in…
Friday, January 11, 2013
The agency is retooling after the massive 'fiscal cliff' legislation.