IRS steps up campaign against wealthy tax cheats – USA TODAY
The Internal Revenue Service is stepping up its campaign against wealthy tax fraud, sending out letters this week in response to more than 125,000 cases involving high-income earners who have not filed returns since 2017. ing. Tax authorities said the cases collectively involved hundreds of millions of dollars in unpaid taxes. More than 25,000 compliance […]
Thousands of millionaires haven't filed tax returns for years, IRS says – The Washington Post
Thousands of high-income earners have not filed tax returns in recent years, but the cash-strapped Internal Revenue Service has done nothing to force them to pay what they owe. The situation has now changed, the tax authorities announced on Thursday. The IRS will send notices to thousands of people who earned more than $400,000 and […]
Actor Terrence Howard allegedly said it’s ‘immoral’ to tax ‘descendants of slaves.’ Now he owes nearly $1 million to IRS.
A federal judge has ordered actor Terrence Howard to pay $1 million in unpaid taxes, interest and penalties after he allegedly threatened a Justice Department attorney and said, “It is immoral for the United States government to tax the descendants of slaves.” Ordered to pay close to USD. The Philadelphia Inquirer reported.. What is your […]
IRS implements new enforcement measures in bid to crack down on tax cheats
The IRS is getting serious about pursuing tax fraud among the wealthy, announcing a series of new enforcement actions in recent weeks targeting wealthy Americans who don’t pay their taxes. The latest is a series of reminders aimed at high-income earners who simply refuse to fill out their tax returns, a group the IRS calls […]
Hunt considers poaching Labour’s plan to scrap non-domiciled tax rules | Jeremy Hunt
Prime Minister Jeremy Hunt is reportedly considering scrapping the UK’s non-domicile tax rules in next week’s Budget, a move that would uproot one of Labour’s key fiscal policies. The decision is understood to be on a list of revenue options drawn up by the Chancellor and Rishi Sunak after economic estimates showed less money than […]
Georgia House advances gun safety training tax credit, ban on gun store merchant category code
Another gun bill passed by the Georgia House on Tuesday would provide tax credits for the cost of gun safety training and gun safes, and another bill would allow financial institutions to differentiate between firearms retailers. The content prohibits the use of the code. The tax credit bill received bipartisan support and passed the House […]
State Dems accused of pushing ‘backdoor gun tax’ on lawful firearm owners
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Virginia ‘tech tax’ bill sparks backlash from business community
Trade groups representing hundreds of companies doing business in Virginia oppose a proposal proposed by Republican Gov. Glenn Youngkin and approved by Democrats in a budget bill to expand the state sales tax to cover digital products. ing. Both chambers of Congress included a new sales tax on purchases such as streaming subscriptions, cloud storage […]
Direct file tax system opens to new users as IRS service levels improve
The IRS’ Direct File online tax filing system will be open to new users for a limited time starting at 5 p.m., the IRS announced Tuesday. This testing program is available to taxpayers in 12 states where it is being piloted by the IRS. These include New York, Texas, Florida, and California.You can access the […]
H&R Block wiped out the tax data of consumers trying to choose a more affordable option, FTC alleges – JC Post
Image provided by: Pixabay Federal Trade Commission Have you ever spent hours entering complex financial information online only to have it deleted? It would be frustrating enough if it was due to a technical glitch, but… According to the FTC’s complaint against taxpayer H&R Block., erasing tax data that consumers had already entered was a […]