Articles Tagged 'Internal Revenue Service'
Feds snooped on tax records of candidates, donors; Justice wonâ€™t prosecute
The Treasury Department has admitted for the first time that confidential tax records of several political candidates and campaign donors were improperly scrutinized by government officials, but the Justice Department has declined to prosecute any of the cases.
Its investigators also are probing two allegations that the Internal Revenue Service â€œtargeted for audit candidates for public office,â€ the Treasuryâ€™s inspector…
IRS aims to clarify investment income tax under healthcare law
(Reuters) – The Internal Revenue Service has released new rules for investment income taxes on capital gains andÂ dividendsÂ earned by high-income individuals that passed Congress as part of the 2010Â healthcare reformÂ law.
The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied…
ME: LePage calls IRS the ‘new Gestapo’
Gov. Paul LePage used his weekly radio address to blast President Obama’s health care law and described the Internal Revenue Service as the “new Gestapo.”
The IRS description was a reference to a provision in the Affordable Care Act that requires Americans not insured by their employers orÂ Medicaid
Â to buy health insurance or pay an…
Marylanders move in droves to Virginia
ByÂ Emily Hatton and Elizabeth Sallie-The Washington Times
Maryland lost the most residents in the mid-Atlantic between 2007 and 2010 â€” and many of them moved to Virginia, according to a study released Tuesday.
Almost 40,000 Marylanders crossed the Potomac River for new homes in Virginia, taking $2.17 billion with them, according to theÂ Internal Revenue ServiceÂ data used…
Numerous Tea Party chapters claim IRS attempts to sabotage nonprofit status
ByÂ Perry Chiaramonte, Fox News
Tea PartyÂ chapters around the nation are blasting theÂ Internal Revenue ServiceÂ after the federal agency sent them letters demanding information about their politics, contributors and even family members.
In letters sent from IRS offices in Cincinnati earlier this month, chapters including the Waco (Texas) Tea Party and the Ohio Liberty Council were asked…
The IRS’s vast new ObamaCare powers
The Wall Street Journal
If it seems as if the tax code was conceived by graphic artist M.C. Escher, wait until you meet the new and not improved Internal Revenue Service created by ObamaCare. What, you’re not already on a first-name basis with your local IRS agent?
National Taxpayer Advocate Nina Olson, who operates inside the IRS, highlighted the…
IRS starts mopping up Congress’s tax-reporting mess
By Neil deMause, CNN
NEW YORK (CNNMoney.com) — With a new mandate looming that will require business owners toÂ file millions more tax forms, the Internal Revenue Service has begun the daunting process of figuring out how to turn the law’s sweeping demands into actual rules for taxpayers.
The new regulations, which kick in at the start of 2012,…
Hundreds in prison get home credits
By Stephen Ohlemacher ASSOCIATED PRESS
Living in prison didn’t stop nearly 1,300 inmates from cashing in on a popular tax break for first-time home buyers, a government investigator reported Wednesday. Their take: more than $9 million.
In all, more than 14,100 tax filers improperly received at least $26.7 million in tax credits meant to boost the nation’s slumping housing…
IRS could tap refunds for health insurance penalties
By Kim Dixon
WASHINGTON, April 5 (Reuters) – The Internal Revenue Service could tap individual tax returns to collect fines against people who fail to buy health insurance as required under recently enacted healthcare legislation, the U.S. tax commissioner said on Monday.
Most individuals are required to get health insurance under the new law, or face penalties that would…