The recent passage of Obamacare and the 2012 tax law changes have drastically altered the estate plans for thousands of taxpayers. Many Texas residents now find it necessary to revisit their estate plans with a qualified tax law attorney to ensure the best possible outcome. While the new changes put … [Read more...] about Tax law changes necessitate new estate planning tactics
IRS may be probing more than just conservative groups
The Internal Revenue Service has recently come under fire following accusations the federal tax agency wrongfully targeted the Tea Party and other prominent conservative groups for tax audits. Now, other reports are suggesting the IRS is actually scrutinizing the tax returns of a wide variety of … [Read more...] about IRS may be probing more than just conservative groups
IRS audited over 70 percent of adoption claims
Texas residents who have adopted children in the last year may find themselves targeted by IRS audits if the tax agency treats such filers as it did in 2012. According to the Taxpayer Advocate Service, a branch of the Internal Revenue Service, the IRS flagged approximately 90 percent of taxpayers … [Read more...] about IRS audited over 70 percent of adoption claims
Over 100,000 federal employees delinquent on taxes
Recent IRS data shows that 107,658 federal employees were behind on their taxes in September 2011, a substantial 10 percent increase compared to the 98,291 federal workers listed as delinquent in 2010. Tax delinquency has risen for government employees as well. Roughly 3.6 percent of the federal … [Read more...] about Over 100,000 federal employees delinquent on taxes
How the IRS might be tracking you online
Legal experts and taxpayer advocates have raised concerns over the Internal Revenue Service's plan to begin using "robo-audits" to identify citizens who have failed to properly pay their federal income tax, saying the agency reached the decision to roll out the new practice without properly … [Read more...] about How the IRS might be tracking you online
IRS says mogul owes $1.1M in taxes for 1972 gift
A billionaire and media tycoon Sumner Redstone may be forced to pay over $1 million in back taxes over a gift he made to his children in 1972. According to the Internal Revenue Service, Redstone gave stock in his family's company, National Amusement, to his son and daughter without ever filing an … [Read more...] about IRS says mogul owes $1.1M in taxes for 1972 gift