Internal Revenue Service

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Feds file suits over $562 million bogus tax claims

AP News 10 days ago

Feds file lawsuits over $562 million in bogus tax refund claims, including a $210B refund Federal authorities have filed lawsuits against seven people accused of promoting a bogus tax return scheme seeking a total of $562 million in refunds. The Justice Department ...

Bill aims to crack down on overseas tax cheats

AP News 11 days ago

Bill aimed at cracking down on tax dodgers hiding assets overseas, estimated to raise $8.5B Key lawmakers unveiled a bill Tuesday aiming to crack down on wealthy tax dodgers hiding money overseas. The bill would impose new reporting requirements on foreign financial ...

Fraud could undermine tax credit

Las Vegas Sun 14 days ago

As Congress considers extending benefit for first-time buyers, troubling report emerges WASHINGTON Nevadans have responded to the governments offer of up to $8,000 in first-time-homebuyer tax credits with gusto, filing more claims and receiving more in tax breaks per capita than residents ...

Congress scrutinizes problems in homebuyer credit

AP News 16 days ago

Lawmakers look at problems in homebuyer credit as Congress considers extension The rush to implement a tax credit for first-time homebuyers opened the program up to potential fraud by people who hadn't bought a home or already owned one, Congress was told ...

Congress scrutinizes problems in home buyer credit

AP News 16 days ago

Lawmakers look at problems in home buyer credit as Congress considers extension Tens of thousands of people may have taken advantage of the first-time home buyer tax credit to defraud the government, an IRS watchdog office said Thursday, in testimony that could ...

Finances of tax credit extension are questioned

AP News 17 days ago

Questions arise on first-time homebuyers tax credit; congressional leaders want it extended Key congressional leaders want to extend the tax credit for first-time homebuyers beyond its scheduled end-of-November expiration despite complaints of fraud and Obama administration concerns about the costs. Housing and ...

IRS probing home-buyer tax credit claims: report

Reuters US Online Report Top News 18 days ago

(Reuters) - The U.S. Internal Revenue Service is probing more than 100,000 doubtful claims of a tax credit meant for first-time home buyers, the Wall Street Journal reported on its website on Tuesday. The $8,000 tax credit for first-time home buyers under ...

IRS warned again of homebuyer credit fraud

Reuters US Online Report Business News 18 days ago

WASHINGTON (Reuters) - The internal watchdog for the U.S. Internal Revenue Service is expected to warn the agency for the fourth time about fraud in the multibillion dollar homebuyer tax credit program, according to a report to be released at a congressional ...

Curbing tax evasion

Las Vegas Sun 21 days ago

IRS crackdown on use of foreign banks to break the law sends a strong message to tax cheats The Internal Revenue ServiceÕs investigation into Americans who use foreign banks to evade taxes has all the elements of a Hollywood thriller. Criminal indictments ...

IRS: Retirement contributions same for 2010

AP News 23 days ago

IRS decides to keep retirement contribution limits same for 2010 The maximum contribution limits for your 401(k) and other retirement plans will stay the same next year, the IRS says. The agency released a statement Thursday keeping the maximum contribution rate at ...

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