The surviving family of billionaire businessman Carl Pohlad is arguing that the Internal Revenue Service's valuation of a Major League Baseball team he owned is inaccurate and has subjected his son to wrongfully inflated estate tax payments. The late magnate's heir, Jim Pohlad, argues that the IRS … [Read more...] about Magnate’s estate disputes IRS assessment of baseball team value
Dealing with the IRS and unaffordable taxes
Millions of people across Texas and the rest of the United States face a serious problem every year; they are ordered to pay income taxes that they cannot afford. It is common for a citizen to owe more than they can afford or even more than they possess, particularly given the lingering effects of … [Read more...] about Dealing with the IRS and unaffordable taxes
Significant portion of IRS seizures illegal, report finds
A recent report from the Treasury Inspector General for Tax Administration reveals that approximately 30 percent of all IRS-conducted seizures of taxpayer property are effectively illegal, claiming the federal tax agency regularly ignores or circumvents legal protections designed to prevent such … [Read more...] about Significant portion of IRS seizures illegal, report finds
Texas congressional representative sponsors estate tax repeal
A Republican representative from Texas and another senior GOP senator have introduced bills that would permanently repeal the federal estate tax, legislation that closely mirrors measures the pair raised when Congress was last in session. The effort to eliminate the estate tax has drawn support from … [Read more...] about Texas congressional representative sponsors estate tax repeal
Republicans blast IRS over targeting scandal
A number of prominent Republican leaders continue to criticize the Internal Revenue Service for an alleged bias against conservative groups that applied for tax-exempt status, with some arguing the tax agency intentionally colluded with the Obama administration in order to suppress the Tea Party … [Read more...] about Republicans blast IRS over targeting scandal
Dealing with an letter from the IRS
Texas residents who have received notices from the Internal Revenue Service in the past know how stressful such correspondences can be. In some cases, a letter from the IRS might be notifying you that the federal tax agency found your return to contain inaccurate or misleading information and has … [Read more...] about Dealing with an letter from the IRS