The Internal Revenue Service has increased the number of audits it conducts annually on the returns of taxpayers earning more than $1 million a year. According to the IRS' own numbers, 12 percent of millionaires were audited in fiscal year 2011. That's double the 6 percent from 2009 and an … [Read more...] about IRS audited more returns from the wealthy in 2011
Same-sex couples face higher tax bill
Even though more states than ever now recognize gay marriage, the federal government and the state of Texas still do not -- and it could cost same-sex couples some serious cash. That's because the power of the IRS, when it comes to joint tax returns, is tied to the Defense of Marriage Act, a 1996 … [Read more...] about Same-sex couples face higher tax bill
IRS declines comment on BPA’s missing funds
The power of the Internal Revenue Service could be brought to bear against the Black Police Association of Dallas, after a 40-year-old member of the organization made allegations of financial wrongdoing by the organization before he became president. The man previously served in the Dallas Police … [Read more...] about IRS declines comment on BPA’s missing funds
Must be the holidays: The IRS is in a giving mood
The Internal Revenue Service is having trouble locating people in Texas who overpaid taxes. The power of the IRS to send out refunds diminishes when taxpayers move without letting the government know where they have gone. The government tax agency, which regularly makes headlines for imposing … [Read more...] about Must be the holidays: The IRS is in a giving mood
Audit says transitional IRS e-file system under-tested
A new report criticizes the Internal Revenue Service for less than effective tax administration by under utilizing and under testing the Modernized e-file system. Electronic filing is no longer new to individual and business taxpayers. The IRS gradually, but cautiously, expanded the use of the … [Read more...] about Audit says transitional IRS e-file system under-tested
Taxpayer advocates say IRS should spend more on customer service
As federal budget cuts loom, the Internal Revenue Service is preparing to do more with less. The power of the IRS was strong enough to prevent more than $4 billion in refunds to potential tax cheaters last year, an enormous increase of more than 170 percent from tax, penalties and … [Read more...] about Taxpayer advocates say IRS should spend more on customer service