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 to stop seizing assets from delinquents during shutdown
The recent government shutdown prompted in part by junior Texas Senator Ted Cruz could have unexpectedly positive effects for individuals with delinquent income taxes. This comes after the Internal Revenue Service announced that it would suspend all new asset seizures and will only enforce existing … [Read more...] about IRS to stop seizing assets from delinquents during shutdown
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
Tips for dealing with an IRS audit
The threat of an audit from the Internal Revenue Service can be frightening and stressful, even for those who file accurate tax returns. The IRS can enforce harsh penalties against individuals who are found to have purposefully misreported their earnings. The power of the IRS includes placing liens … [Read more...] about Tips for dealing with an IRS audit
IRS ruling could eliminate automatic gratuities
Hundreds of Texas restaurants could be forced to tweak the way they calculate tips for large groups when the Internal Revenue Service starts enforcing a new rule in 2014. Eateries around the country have long added automatic gratuities to the bills of large groups of diners, but the IRS's move to … [Read more...] about IRS ruling could eliminate automatic gratuities
IRS unveils new tax regulations for same-sex couples
Married same-sex couples who were legally married in a state that recognizes such unions will now be able to file joint federal tax returns, even if they live in Texas or other states that have not legalized same-sex marriage. The IRS teamed with the Department of the Treasury to develop clear and … [Read more...] about IRS unveils new tax regulations for same-sex couples