IRS News

IRS offers advice to those who missed tax deadline
The IRS has some advice for taxpayers who missed the tax filing deadline this week.
KRAFT FOODS RECEIVES FAVORABLE IRS RULING ON TAX-FREE NATURE OF PLANNED SPIN-OFF
NORTHFIELD, Ill., May 18, 2012 /PRNewswire/ -- Kraft Foods Inc. (NYSE:KFT) announced today that the U.S. Internal Revenue Service (IRS) has provided a favorable private letter ruling confirming the tax-free ...
Cornell Joins Harvard as IRS Probe Looks at Ivy League Schools
Joanne DeStefano, Cornell’s chief financial officer, told a congressional committee yesterday in Washington that the IRS completed its probe in March, according to a copy of her testimony.
IRS Told To Improve FATCA Plans
The United States Government Accountability Office (GAO) has disclosed that, as the implementation of the Foreign Account Tax Compliance Act (FATCA) should provide the Internal Revenue Service (IRS) with a substantial amount of new information, Congress has asked for a review of how it plans to manage that information.
Start Over With The IRS
If youre struggling to pay back taxes, try a fresh start with the IRS. They really can help.
Sen. Grassley To IRS: Whistleblower Office Is A Disgrace
You've probably read about IRS whistleblowers cashing in for reporting suspected tax fraud. It may seem to be a new development, but IRS whistleblowing incentives started in 1867! Still, big changes in 2006 raised the stakes materially, adding new Section 7623(b). Under it, awards to whistleblowers are no longer discretionary. Now, the whistleblower "shall" receive ...
Beware Longer IRS Statute Of Limitations On Foreign Accounts
If you thought the huge flap over the 6 year IRS statute was over when the Supreme Court decided Home Concrete, think again. See HUGE Taxpayer Win: Supreme Court Tells IRS 3 Years To Audit Is PLENTY! First, remember that omissions of 25% or more of your gross income still trigger the 6 years statute. ...
BNY Mellon, IRS spar over $900 million tax benefit
WASHINGTON (Reuters) - Bank of New York Mellon Corp faced off against the U.S. government on Thursday in closing arguments over a $900 million tax benefit that the Internal Revenue Service called "tax abuse." The case is the first to go to trial since the IRS accused some banks of generating artificial foreign tax credits through loans with London-based Barclays Plc . The tax benefit stems from ...
Can The IRS Restrict Your Travels?
The U.S. Senate recently allowed a measure for the IRS to revoke your passport. Heres what you need to know.
IRS Seeks Advisory Council Members
The Internal Revenue Service (IRS) wants you ? and not in that scary, sending you Notices of Deficiency kind of way nor in a smarmy personals ad kind of way (yes, I did just get back from so that darn Meg Ryan movie is on my mind). The IRS is currently accepting applications for the ...