The Internal Revenue Service (IRS) is the revenue service of the United States federal government. The government agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue. The IRS is responsible for collecting taxes and the interpretation and enforcement of the Internal Revenue Code.The first income tax was assessed in 1862 to raise funds for the American Civil War, with a rate of 3%. Today the IRS collects over $2.4 trillion each tax year from around 234 million tax returns.
Posts about Irs
  • Lapsing of the Statute of Limitations in New York Foreclosure Actions

    … a default without judicial intervention. This is known as “internal forgiveness,” and lenders are generally required to report any amount forgiven to the IRS. Wise lenders may only permit internal forgiveness if the borrower agrees, in writing, to toll the statute of limitations on an already accelerated debt. New York General Obligations Law 17-101…

    Ronald D. Weiss, PC- 10 readers -
  • Concealed or Hidden Investment Fees? SEC Whistleblower Post

    … for SEC Whistleblower actions. The whistleblower lawyers at MahanyLaw are investigating claims that investment funds are overcharging or concealing fees from investors. If you have inside information about one of these violations, please contact us immediately. You may be entitled to a large cash award through the SEC whistleblower program. Keep…

    Due Diligence- 12 readers -
  • My Government Whistleblower Case Was Declined, Now What?

    … No one wants to that their whistleblower case was declined. Yet it happens with most cases. On average, the Justice Department only intervenes in 20% of the False Claims Act cases filed. That means your odds in winning through government intervention are 1:5. (The odds of winning the Powerball jackpot are 1:292,200,000!) Most folks that file…

    Due Diligence- 13 readers -
  • Do I Have to Pay Taxes on My Car Accident Settlement

    … your settlement breaks down so you provide the IRS with an accurate amount and do not pay more taxes than necessary. What About Punitive Damages? You may have obtained punitive damages in addition to compensation for your medical expenses, lost wages, and pain and suffering. These damages are not meant to reimburse your or compensate you for any harm…

    Jared Staver/ Chicago Personal Injury Lawyer- 17 readers -
  • Do You Need to Worry About Estate Taxes in Missouri?

    …, property taxes, and potentially estate taxes. Years ago, estate taxes were a huge concern for many people in Missouri during the estate-planning process. However, in recent years, changes in both state and federal laws have made estate taxes less of a concern from many people, though planning to avoid taxes is still critical for some families… 18 readers -
  • Connecticut Man Pleads Guilty in Securities Fraud Scheme

    … of the securities for profit, earning approximately $4.4 million through the scheme. Meissenn also failed to report the income to the IRS, which came out to a total of $1.5 million in federal income taxes. According to the U.S. Attorney’s Office, Meissenn could face up 20 years in prison for the wire fraud and up to five years in prison for tax evasion…

    Eccleston Law Offices- 12 readers -
  • Accounting Today

    …-2017 Me-F efile production shutdown schedule. Next up is Nov. 30. Turbotax: “There are three extra days to complete and file taxes” next April! What’ll they think of next? And who deserves the break more? John R. Dundon II EA: The series on year-end tax planning and charitable giving continues with a look at DAFs. Summing It Up: If you have…

    Due Diligence- 32 readers -
  • SEC Fines Ex- LPL Broker for Churning

    … in misconduct such as churning. It appears that Lebel is no exception. Lebel’s first money problems began in 2007 and 2008 when he had a simple overdue phone bill. According to him, it was because of a divorce. That isn’t a big deal but a $51,000 IRS lien during that time period signaled larger problems. A series of subsequent tax liens through 2014…

    Due Diligence- 10 readers -
  • What Are White-Collar Crimes?

    … Explaining White-Collar Crimes in Texas White-collar crimes are illegal actions which typically involve the misuse or misappropriation of finances. They are distinguished from other types of crimes because they do not often involve violence or threats of violence. While many low-level crimes, such as robbery and theft, involve physically taking…

    Matthew Sharp/ The Law Office of Matthew D. Sharp- 27 readers -
  • Benistar Founder in Jail – Finally (419 Plans Post)

    … entrusted to him by his clients. By the end of the year he had lost $9 million. In February 2004, Carpenter was indicted and charged with 14 counts of wire fraud and 5 counts of mail fraud. A year later in July, he was convicted by a Boston jury of all 19 counts. The story should end here but it doesn’t. Carpenter appealed and the trial judge tossed…

    Due Diligence- 15 readers -
  • Whistleblower News Review

    … of Defense (DOD) enacted a set of strict cybersecurity and breach reporting regulations in August of last year following a string of cyberattacks on American businesses and government contracting agencies. One IRS hack exposed the personal financial information over 700,000 U.S. taxpayers. In June of last year, hackers accessed the databases…

    Due Diligence- 31 readers -
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