IRS
US Lawmaker Urges SEC Action Against Arkansas Firm Accused of Selling Fake Tax Credits
The ranking member of the U.S. Senate Finance committee has renewed his read more >
by Scott Carroll -
Getting the IRS on the Phone is More Difficult This Tax Filing Season
The problem is only expected to get worse after thousands of probationary workers were laid off earlier this year. read more >
by Associated Press -
DOGE Seeks Access to Taxpayer Data at IRS
If successful, the group would have access to millions of tightly controlled files that include taxpayer information, bank records and other sensitive records. read more >
by Associated Press -
Lake Hamilton Resort Faces Foreclosure in $2.6M Loan Default Case
Vista at the Lake, a Lake Hamilton resort, faces receivership in a $2.6M loan default case as lender seeks foreclosure and rent control amid mounting debt. read more >
Doing Good Is Good for Small Businesses (Faviola Alba Commentary)
Charitable giving can be good for your business and community, and there’s a right way to go about it. read more >
by Faviola Alba -
IRS Collects Milestone $1B in Back Taxes From High-Wealth Taxpayers
The collection campaign is focused on taxpayers with more than $1 million in income and more than $250,000 in recognized tax debt. read more >
by Associated Press -
IRS Says ‘Vast Majority’ of 1 Million Pandemic-Era Credit Claims Show a Risk of Being Improper
The IRS stopped processing new claims in September and said that the moratorium will continue. read more >
by Associated Press -
The IRS Wants to End Another Major Tax Loophole for The Wealthy
The guidance and ruling being announced Monday includes plans to essentially stop “partnership basis shifting" — a process by which a business or person can move assets among a series of related parties to avoid paying taxes. read more >
by Associated Press -
IRS Claws Back Money Given to Businesses Under Fraud-Ridden Tax Credit Program
“We remain deeply concerned about widespread abuse involving these claims that have harmed small businesses,” said IRS Commissioner Danny Werfel. read more >
by Associated Press -
Tax Changes Small Business Owners Should Be Aware Of as Tax Deadline Looms
Unlike individuals, small businesses can have varying deadlines depending on the type of company, the state the taxes are filed in, and other factors. read more >
by Associated Press -
The Legal Saga of LaDonna Humphrey, and the Boss She Brought Down
Arkansas Business reviewed hundreds of pages of transcripts and court documents to track the rise and fall of a business that quickly outgrew its management and the role a disgruntled employee played in its collapse. read more >
by Mark Friedman -
IRS Targets Execs Who Use Business Jets for Personal Travel
WASHINGTON (AP) — First, there were trackers on Taylor Swift and other celebrities’ private jet usage. Now, there will be more scrutiny on executives’ personal use of business aircraft who write it […] read more >
by Associated Press -
A COVID-Era Program is Awash in Fraud. Congress Aims to Wind it Down and Expand the Child Tax Credit
Lawmakers emphasize that cutting down on the fraudulent claims should also help the IRS more quickly resolve the legitimate claims that businesses have filed and are still awaiting resolution. read more >
by Associated Press -
What Small Businesses Need to Know About New Regulations Going Into 2024
NEW YORK (AP) — Regulations are a double-edged sword. They’re created to improve business dealings, discourage unfair or illegal business activity, and protect workers. But, for small business owners, they […] read more >
by Associated Press -
IRS Freezes Pandemic-Era Tax Credit Due to Influx of Fraudulent Claims
The Employee Retention Credit was designed help small businesses keep paying their employees during the height of the pandemic if they were fully or partly suspended from operating. read more >
by Associated Press -
IRS Plans to Crack Down on Millionaires to Collect Back Taxes
The agency said 1,600 millionaires and 75 large business partnerships owe hundreds of millions of dollars in past due taxes. read more >
by Associated Press -
IRS Throws a Chill Into Collectives Paying College Athletes While Claiming Nonprofit Status
If the collectives aren't tax-exempt, the donations they collect that are used to pay quarterbacks, point guards and pitchers may not be, either. read more >
by Associated Press -
Rod’s Pizza Sold for $650,000
That sum covered a settlement that called for Rod’s Pizza to pay the IRS $600,558 for back taxes for 2014-17. read more >
IRS Pledges More Audits of Wealthy, Better Customer Service
Some improvements have been long expected, such as bringing more paper-based systems online and answering taxpayers' phone calls promptly. Others are more ambitious: continuing to explore ways to create a government-operated electronic free-file tax return system, for example. read more >
by Associated Press -
Rod’s Pizza to Pay $600K in Back Taxes
Last month, Chief U.S. District Judge Susan O. Hickey approved the settlement that called for Rod’s Pizza to pay the IRS $600,558 for back taxes. read more >
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