All Posts Tagged Tag: ‘IRS’

Melissa Gilbert Owes IRS $360,000, Which She Blames On Career, Recession and Divorce

Melissa Gilbert is in trouble with the IRS. According to CBS News, the Internal Revenue Service says former Little House on the Prairie star Melissa Gilbert failed to pay more than $360,000 in federal income taxes from 2011-2013. The Detroit News reports the IRS filed a tax lien against the actress in February because of her failure to pay taxes. …

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Tax Advice: 5 Dirty Tax Scams to Watch Out for This Year

Some tax advice is not worth the hot air that pushes it out of a crooks mouth. The IRS has put together a list of a dozen tax season pitfalls that Americans need to be on the lookout for. Some items on the list are about things that tax filers should refrain from doing, such as falsifying documents or trying …

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Microsoft Sues IRS For Not Delivering On FOIA Request

Microsoft has sued the IRS in relation to a Freedom of Information Act request. The company wants information related to an IRS investigation into its tax records as it conducts an audit. The audit focuses on a fee charged between Microsoft’s subsidiaries, or transfer pricing, used between 2004 and 2009. Specifically, the company wants details on a contract and proposals …

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Toby Keith’s Bar Owes $250,000 In Back Taxes

The tax debt of Toby Keith’s I Love this Bar & Grill at Destiny USA has continued to grow, now totaling over $250,000. Earlier this month, New York filed a new tax warrant against the restaurant for $107,000, related to the 2013 fourth quarter taxes that the business owes. The new debt accompanies the previous debt from the 2013 second …

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ER Star Mekhi Phifer Files For Bankruptcy

Former ER star Mekhi Phifer is the latest celebrity to find themselves in a hole when it comes to their finances, TMZ reports. On April 22, 2014, Phifer reportedly filed for bankruptcy. He claims that he only has $67,701 in assets that includes a leather bed, a 12-year-old Segway (worth only $1,500), and a collection of firearms:1 shotgun and 2 …

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Gisele Audited by IRS After Listed as Forbes’ Highest-Paid Model

Brazilian supermodel, Gisele Bundchen, was recently reviewed by the IRS after making “The World’s Highest-Paid Models of 2013” list on Forbes. According to Forbes, the 33-year-old earned $42 million last year and “replaced Beyoncé as the face of H&M, reportedly beat out Rihanna for Chanel and took over David Yurman from Kate Moss.” This assessment obviously comes at a time when taxes …

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IRS Tax Filing Deadline Pain Lessened With Yummy Deals

April 15, also known as Tax Day, is upon us again. While some people like to file their taxes with the IRS early on–especially if they’re getting a refund–others wait until the last minute. Whether you were the early bird as far as tax filing goes or are one of the procrastinators waiting until the last minute to do your …

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IRS: Bitcoins Are Property And Absolutely Taxable

Good news and bad news has just come down the pipe courtesy of the IRS. The good news? Bitcoins have received a huge boost in terms of U.S. government recognition. The bad news? If you were hoping to invest in Bitcoins for the purpose of evading taxation…it’s a no-go. The IRS announced on Tuesday that they will treat the virtual …

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IRS: Bitcoin is Property, Not Legal Tender

Despite the wild swings in the virtual currency markets and the recent scandal involving the Mt. Gox exchange’s loss of $400M, Bitcoin continues to hold some value online. As the most popular virtual currency, Bitcoin is becoming increasingly popular with investors looking for risky, (though potentially lucrative) investments and tech aficionados who want to be in on the ground floor …

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IRS Selfies on Instagram Help Man Avoid Audit

Time Magazine reports that a Pennsylvania architect is using social media tech to stay a step ahead of the tax man. Andrew Jarvis probably never thought that his Instagram selfies would land him in the news, but his idea was a brilliant one, and we hope he gets plenty of recognition for his business as a result. You see, Jarvis …

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Online Tax Filing: Send It Straight To The IRS Free

You might have noticed the many e-file websites that offer “free” tax-filing options, but somehow seem to add fees or consistently try to trick you into clicking the upgrade button while you plow through your taxes. IRS takes matters into their own hands with its Free File program that provides free federal tax preparation and e-file through brand-name software or …

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Identity Theft on the Rise this Tax Season, IRS Warns

Identity theft is on the rise this tax season as millions of Americans file tax returns and claim their refunds. In February, the Internal Revenue Service placed identity theft at the top of their “Dirty Dozen” tax scams list. Criminals simply use their victims’ names and social security numbers to receive the corresponding tax return. The IRS isn’t the only …

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TurboTax 2014: Compare Cost to Other Online Tax Services

Tax filing season is finally underway, so now it’s time to decide how you want to file your taxes. If you don’t much care for using an accountant or tax preparation chain such as H&R Block to file your taxes and prefer to prepare your return yourself, you’ve no doubt heard of TurboTax. TurboTax is one of the most popular …

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IRS in Hot Water Over New Treasury Inspector Report

The IRS is facing new scrutiny over taxes that should have been paid for out-of-town travel made by its agents. These accusations have arisen from a Treasury Inspector General report, and have caused new fury amongst those who feel that the IRS already has too much power and shady behavior amongst its top executives. Those like Rep. Jim Jordan of …

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Michael Jackson Estate Charged With $702M Tax Bill

Michael Jackson’s estate is being heavily pursued by the IRS for “undervaluing assets” and now faces a $702 million charge. In U.S. Tax Court documents, executors estimate that Michael’s net worth at his time of death in 2009 was around $7 million; the IRS is now arguing that his worth was actually $1.125 billion. The tax collectors are reporting that …

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IRS e-file Season Begins This Weekend

The IRS officially began processing 2013 tax returns this Friday, starting this year’s tax season. The IRS hopes that their e-filing process, along with their direct deposit system, will encourage users to process their return early, instead of waiting until April 15th. The IRS’ e-file is free for anyone who earned less than $58,000 in 2013. Using e-file and direct …

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Tax Forms: Where To Go To Obtain Them

It’s the time of year that everybody dreads…tax time. While it something that we all try to avoid doing, it simply has to be done. So, where do you start? First, you need to decide how you plan to file them. Are you going to use software and do it yourself? Are you going to do it manually? Are you …

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Jodie Sweetin Starts 2014 On a Good Note

Jodie Sweetin, best known for her role as Stephanie Tanner on ABC’s Full House, has had her fair share of bad news and downfalls over the years. Not only was she essentially a one-hit-wonder with her 90’s sitcom, but Sweetin has also spent years battling drug addictions – an issue which has affected both her acting career and her three …

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Government Shutdown Delays Tax Filing Season

The IRS announced today that the government shutdown that lasted from October 1 to October 16 will cause the start of the 2014 tax filing season to be delayed. Unfortunately, the deadline to file taxes (unless you file for an extension) is still April 15, so this does nothing to help taxpayers who like to wait until later to file …

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Lois Lerner, IRS Agent Targeting Tea Party, Retires

Lois Lerner, the woman who has been the center of attention concerning an IRS scandal involving improperly targeting Tea Party and other conservative groups, has decided to retire. At an American Bar Association conference on May 10th, Lerner hinted at the illegal actions in response to a planted audience question. In her response, Lerner stated that targeting by the IRS …

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Google Is Suing The IRS For $83.5 Million

Google is suing the IRS for an $83.5 million refund, the company claims it is owed, related to stock warrants granted to AOL back in 2004. The news comes from Bloomberg, which reports: The IRS erred in disallowing a $238.6 million deduction claimed for the difference between the price AOL paid to exercise a warrant for Google stock and the …

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IRS Star Trek Parody Video Is Hilariously Awful

An IRS Star Trek parody video has prompted a formal apology from everybody’s favorite government agency. Faris Fink, an IRS executive who appears in the video as Mr. Spock, apologized for the video and for some of the IRS’s other excessive spending habits in a hearing on Capitol Hill today. The video was produced for an IRS training conference in …

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IRS Tells Congress That It Obtains Warrants Before Searching Emails

Late last week, the ACLU reported that the IRS probably obtained emails without a warrant. The group came to this conclusion after an agency handbook from 2009 said that Internet users “do not have a reasonable expectation of privacy.” Now the agency is firing back saying it does no such thing. The Hill reports that IRS Commissioner Steven Miller was …

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Congressman Wants The IRS To Explain Itself

It was revealed earlier this week that the IRS probably digs through your email without a warrant during its investigations. It’s able to do this thanks to the outdated ECPA which allows government agencies to obtain emails that are more than 180 days old. Now one lawmaker wants the IRS to explain itself. The Hill reports that Rep. Charles Boustany, …

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The IRS Doesn’t Think The Fourth Amendment Applies To Your Email

The IRS runs a number of tax audits each year, and as such, has to obtain information on private citizens. If the information is in a physical format, the agency must obtain a warrant to access it. If it’s stored online via email or other electronic information, there is no such protection. In a Freedom of Information Act request, the …

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Tax Returns: Jan. 30 is When Processing Begins

The U.S. Internal Revenue Service (IRS) announced this week that the 2013 tax filing season won’t open until January 30. The IRS will not begin processing individual income tax returns until then. The IRS had originally planned to open electronic tax filing on January 22. The delay is due to changes in tax law passed by congress on New Year’s …

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New Phishing Scam Targeting Veterans In New Jersey

There are as many scams out there as there are stars in the sky. Just this morning I received an email about filling out an Apple survey to get free money for the app store. It even had an apple.com email address. The problem with most scammers is that they prey on the easy victims. That is what makes this …

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Senator Responds to Saverin’s Tax Scheme

We’ve been following Facebook co-founder Eduardo Saverin and his exit from the United States involving him renouncing his US citizenship. According to representatives speaking on Saverin’s behalf, his decision to leave the US has nothing to do with avoiding taxes, but rather to do with freedom to live and invest where he sees fit. Apparently we were not the only …

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Facebook Co-Founder Resigns Citizenship to Escape High U.S. Taxes

If you haven’t been living under a rock you know Facebook is about to go public and that current estimates value the company in the $90 billion+ range. Essentially, everyone with stock in the company is about to have a big payday. At some point going public became an inevitability and for those who saw it coming, they have been …

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Paying Taxes Kills People: Death & Taxes [Study]

Bad news for drivers on tax day. The Journal of the American Medial Association has just published finding that confirm there are more traffic related fatalities on April 15th than any other day in April. Utilizing data from the National Highway Traffic Safety Administration for the past 3 decades (1980-2009), they were able to establish a pattern of increased travel …

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