Tax-News.com: Time For Tax Transparency, Says UK Lawmaker
FridayJan 27,2012
Tax-News.com: UK taxpayers could receive yearly statements detailing how their money is spent, under new legislation put forward by a member of parliament.
IRS Tax Problem Solver Blog – IRS Help
- Importance of Good Record keeping in Taxes February 21, 2012Everyone knows you have to keep accurate records when it comes to reporting your taxes. But it is also a pain in the neck to have to keep accumulating receipts, check buds, invoices etc. for years “just in case”. It is not uncommon to fund taxpayers going to see their accountants with a boxful of receipts, bills and other documents. After all, few people wil […]
- IRS Unable to Adequately Help Tax Fraud Victims February 20, 2012The IRS has admitted that it is overwhelmed by the number of tax fraud cases it has to resolve. An IRS spokesman in Florida said its employees are receiving additional training to better equip them to handle tax fraud. At the same time, the IRS is working to catch fraudulent tax returns at source. But this is easier said than done. More on IRS Unable to Adeq […]
- Return of the Adoption Tax Credit February 15, 2012Last year, the adoption tax credit was one of the most welcome credit to taxpayers because through it many taxpayers received huge refunds. Although the credit has been around since 1997, it had been a non-refundable credit i.e. it was to offset any taxes owed and any remainder is to be carried forward to offset the following year’s taxes. However, last year […]
- What is an Unreal Tax Audit and How it Affects You February 14, 2012What is an Unreal Tax Audit and How it Affects You Have you heard of an “unreal tax audit”? This term was coined by Nina Olson, the National Taxpayer Advocate who is the primary person given the watchdog responsibility by the government over the IRS. “Unreal audits” are usually letters informing you of errors or omissions in your tax returns. These audits […]
- 5 Most Widely Used Tax Software February 13, 2012Using tax software is an extremely popular way to prepare and submit tax returns. With the tax season in full swing, the IRS website has partnered with some top tax preparation and filing software developers to provide solutions for filing of federal tax returns. All these services provide free web-based applications with basic features like calculating th […]
- IRS Intensifies Crackdown on Tax Fraud February 10, 2012As tax season gets into full swing, the IRS has been spreading its dragnet to catch tax fraudsters. This has been doing on since late January and involved the potential theft of thousands of identities and taxpayer refunds. The IRS intends to come down hard on identity theft and tax refund fraud this year and this action is clearly aimed at warning cheats an […]
- Tax Scam Tactics February 9, 2012With the ongoing recession, it is not uncommon to find tax scams getting more widespread. Most tax scams are aimed at either stealing your identity online or claiming your tax refund. If you have not been a victim of any form of tax fraud, prevention is better than cure. And a huge part of prevention has to do with knowing the wiles of the scammers and their […]
- US Government Indicts Wegelin for Tax Fraud February 8, 2012About a month ago, three officials from Wegelin, Switzerland’s oldest bank, were indicted for abetting tax evasion. Now the bank itself has gone down the same path as the Justice Department indicts Wegelin on charges of assisting wealthy American taxpayers hide their taxable income in offshore accounts with the bank. It is estimated that at least $1.2 billio […]
- Details of Newest IRS Voluntary Offshore Disclosure Program February 7, 2012After collecting more than $4.4 billion in tax revenue from the first two voluntary offshore disclosure programs (VODP) in 2009 and 2011, the IRS has launched its third and latest disclosure program aimed at getting more taxpayers with offshore accounts to declare their assets therein. One prominent difference between the current VODP is that this newest one […]
- Identity Theft a Grave Problem in Tampa February 6, 2012Tampa, Florida has been identified as one of the cities of high identity theft in the country, the others being Miami, Atlanta, Birmingham, AL, Washington D.C., Chicago, New York, Phoenix, and Los Angeles, according to the IRS. Tampa is one of the areas covered in a 23-state federal sweep targeting check-cashing operations and other businesses. The IRS says […]