Business owners and residents of Dallas, Texas, are usually careful to follow all relevant tax laws. Failure to do so can result in steep penalties and interest, which can lead to businesses closing or individuals drowning in debt. For one man, a meeting with the Internal Revenue Service to discuss … [Read more...] about Man awarded $862,000 in injury lawsuit against IRS
Texas man subject to penalties and interests on $45 million
A Texas billionaire will be required to pay major tax penalties to the Internal Revenue Service, according to a ruling from the nation's highest court. U.S. Supreme Court justices decided that the man, who allegedly tried to hide more than $45 million from the IRS, must pay enormous penalties and … [Read more...] about Texas man subject to penalties and interests on $45 million
IRS withdraws legal action against family business
The Internal Revenue Service has recently been wracked with scandals, inefficiency and claims of incompetence, with the agency recently coming under fire for seizing assets from a small grocery store operated by the same family for over three decades. However, the IRS recently filed to voluntarily … [Read more...] about IRS withdraws legal action against family business
Tax filing season delayed due to government shutdown
Although the recent government shutdown negatively impacted many businesses and individuals, Texas taxpayers and everyone else will still have to file on time, or face the usual penalties and interest. For the second time in as many years, the Internal Revenue Service (IRS) will begin accepting … [Read more...] about Tax filing season delayed due to government shutdown
IRS shutdown causes problems for some taxpayers
The government shutdown may have caused some Texas taxpayers to rejoice at the news that the Internal Revenue Service would be temporarily halting the generation of new liens and levies due to large scale employee furloughs, effectively protecting thousands of individuals accused of being delinquent … [Read more...] about IRS shutdown causes problems for some taxpayers
IRS warns budget cuts will affect collections
A new report from the Internal Revenue Service suggests that budget cuts have drastically reduced the amount of delinquent taxes the agency is able to collect, with enforcement efforts collecting a total of $50.2 billion in the 2012 fiscal year, a 9 percent drop from the previous year. However, … [Read more...] about IRS warns budget cuts will affect collections