The IRS is ferreting them out, and more could be done to make sure everyone is paying up, according to a new report, "Opportunities Exist to Identify More Taxpayers Who Underreport Retirement Income," by the Treasury Inspector General for Tax
A little-noticed proposed change in Internal Revenue Service regulations could have devastating effects for charter school teachers by making them ineligible for state retirement plans, and they could stand to lose much of the
Step 2: Decide whether to tell the IRS. US citizens are supposed to pay taxes no matter where their money is. But the IRS can't tax what it doesn't know about, and the odds of getting caught offshore have been slim. But beware â" that's changing.
Qualifying taxpayers who find the completion of an Internal Revenue Service return taxing in money and in time-consumption may receive free-of-charge help from the AARP Foundation Tax-Aide program. The volunteer-staffed service is offered in
Section 6015(f) of the Internal Revenue Code provides that equitable relief is available for innocent spouses, but the determination rests on a âfacts and circumstancesâ test. The Department of the Treasury recently proposed updating, clarifying,
"From 2008 to the present we've had a little over 400 thousand cases recognized by the IRS," said IRS Michael Dobzinski. It happened to Richard and Tarnee Coffey when they filed last year. "The person had filed a 1040 EZ return using my husband's
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