Long Odds
Tax Reform is once more on the agenda for Congress. But Robert Samuelson, columnist for the Washington Post, says that any real reform is unlikely...…
$2 Trillion Underground Economy
Estimates are that underground activity last year totaled as much as $2 trillion, according to a study by Edgar Feige, an economist at the University of Wisconsin-Madison. That's double the amount in 2009, according to a study by...…
Follies
Now that it is all over but the paying and the weeping, it may be appropriate to consider how truly absurd the tax laws in the United States have become...…
Audit Risk
A new study by the National Taxpayer Advocate used confidential IRS data to show large clusters of potential tax cheats in these five metropolitan areas. The IRS uses the information to target taxpayers for audits....…
Tax-Exempt Organizations Must File By May 15
Tax-Exempt Organizations Must File with IRS By May 15A key deadline of May 15 is facing many tax-exempt organizations that are required by law to file annual reports with the Internal Revenue Service.…
Read more about Tax-Exempt Organizations Must File By May 15
Injunction May Close Chain Mo' Money Taxes
Last year, hundreds of Mo' Money clients in several states alleged bounced checks, excessive fees and the failure of the business to pass along IRS refunds...…
Sequester
Sequester May Hurt IRS Collection EffortsThe head of the Internal Revenue Service is warning that the government-wide spending cuts that took effect last month could hurt federal tax collections.IRS…
IRS Form 1040 Turns 100
Among the notable birthdays that occurred over this tax season is the IRS Form 1040, introduced in 1913 following the ratification of the 16th Amendment. That amendment gave the government the power to...…
Tax Preparer Legislation Filed
Richmond’s Taxpayer Protection and Preparer Fraud Prevention Act of 2013 would give the Internal Revenue Service more oversight to certify paid tax preparers and ensure they are “competent, of good character and able to render services.” The legislation also would allow the IRS to...…
Audits Drop, But Not For The Rich
US taxpayers were slightly less likely to face an audit last year, according to an analysis issued by the Transactional Records Access Clearing House (TRAC) at Syracuse University.…
