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
    • Tax Identity Theft Awareness Week January 29-February 2

      It is tax time. The tax scammers are gearing-up. Learn how to protect yourself during Tax Identity Theft Awareness Week January 29-February 2, 2018. Tax identity theft occurs when a person uses someone else’s Social Security number to either file a tax return and claim the victim’s refund, or to earn wages that are reported as the victim’s income, leaving the victim with the tax bill.

      Prince Law Offices, P.C.- 11 readers -
  • Charitable Giving as Part of Your Estate Plan

    … would you rather do—give money to your favorite charity or give that money (and possibly more) to the IRS? An estate planning attorney can help you select the best options for setting up charitable gifts for your situation. Some ways of gifting include: Charitable trusts – You can form a trust for the purpose of charitable gifts. Upon your death… 12 readers -
  • Ways to Reduce Your Estate Tax

    … deduction. Limiting Estate Tax There is no simple way to limit your estate tax. If you want to give your loved ones as much as possible, you should speak to a lawyer. Estate planning with a lawyer can ease the burden of estate tax. The post Ways to Reduce Your Estate Tax appeared first on . …

    The Law Office of Jeremy Howe- 15 readers -
  • Charitable Giving as Part of Your Estate Plan

    … death. This can provide you an income stream as well as an outlet for charitable giving. Giving away assets – Many people who have complex estate plans have different types of appreciated assets. If those assets were sold, the appreciation would generally be subject to a capital gains tax on the estate. However, if appreciated investment portfolios… 15 readers -
  • Unsecured Debt in Chapter 13: How Much Must You Pay?

    … The amount you are required to pay back to your general unsecured creditors in a Chapter 13 Bankruptcy Case depends on various factors. It can range from only a few pennies on the dollar to a 100% of the debt. The amount required to be paid must be the higher of the "Means Test" (projected disposable income) and the amount of the chapter 7…

    Jordan Bublick/ Miami Bankruptcy Law Blog- 16 readers -
  • Lapsing of the Statute of Limitations in New York Foreclosure Actions

    … will be modified during settlement negotiations. The acceleration becomes leverage for the lender during modification negotiations, but an experienced Long Island foreclosure attorney can advise you as to the benefits of either accepting or rejecting a modification offer depending on the nature of the statute of limitations. Contact an Experienced Long Island…

    Ronald D. Weiss, PC- 12 readers -
  • Concealed or Hidden Investment Fees? SEC Whistleblower Post

    … reading for more details. Hidden Investment Fees When it comes to hidden investment fees, what you don’t know really can hurt you. The U.S. Department of Labor believes that investors lose over $17 billion per year in concealed, incorrect and hidden fees. (Warren Buffett says the number may be closer to $100 billion.) Many funds and investment products…

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

    … Background – Whistleblower Case Procedures To answer the question of why whistleblower cases are declined, some procedural history is needed. America’s primary whistleblower tool is the False Claims Act. Congress adopted the Act in 1863. Since then, 29 states have adopted similar False Claims Acts. (There were 30 states but Wisconsin repealed…

    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… 20 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

    …: “a mixed bag of goodies and sillies.” Don’t Mess With Taxes: Expats are on the rise, according to the IRS. That and the timing of the recent presidential campaign and still-smoldering election is purely circumstantial. Tax Vox: Politics makes strange bedfellows indeed when the fossil fuel industry worked with progressive advocacy groups and even…

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

    …, bankruptcy, tax lien, regulatory action, judgment or criminal conviction. While a judgment or lien doesn’t mean a broker is stealing, it should be a red flag for compliance officials within the brokerage firm. Ditto for certain criminal convictions. A broker with money problems, casino debts or addiction problems is more prone to steal or engage…

    Due Diligence- 10 readers -
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