IRS Tax Support

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US Treasury

• No horsing around, IRS tells ex-NFL star
  

  Image via Wikipedia

  The Internal Revenue Service says ex-football star linebacker Bill Romanowski owes more than $6 million, primarily for claiming losses from a thoroughbred horse-breeding investment whose promoters have admitted was a fraudulent tax shelter.
  Romanowski, 44, and his wife, Julie,  filed a lawsuit last month in U.S. Tax Court disputing an [...]

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• Proposed Regulations Expand the Use of Electronic Payment System and Discontinue Paper Coupons Next Year
  

  Consistent with a Financial Management Service initiative announced in April of this year, the IRS today issued proposed regulations to significantly increase the number of electronic transactions between taxpayers and the federal government.
  The proposed regulations (REG 153340-09) would eliminate the rules for making federal tax deposits by paper coupon because the [...]

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• IRS Seeks Volunteers for Taxpayer Advocacy Panel
  

  The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies key issues and makes recommendations for improving IRS service.
  “The feedback and suggestions that the TAP provides us from the taxpayer’s point of view are important to sound [...]

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• UBS says IRS has 20 Swiss banks in its sights
  

  Embattled UBS AG has warned that Switzerland’s financial industry is at risk unless lawmakers approve a tax treaty with the U.S., and that other Swiss banks may be next to face pressure from American regulators.
  In a letter to parliamentarians, the banking company said the U.S. Internal Revenue Service has collected information [...]

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• IRS Announces Qualified Disaster Treatment for Chile
  

  Washington The Internal Revenue Service today issued guidance designating the earthquake that occurred in Chile in February 2010 as a qualified disaster for federal tax purposes. The guidance allows individuals who receive qualified disaster relief payments from any person to exclude those payments from income on their tax returns. Also, [...]

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• IRS Wins 48-Month Suspension of a Lawyer for Failing to File His Own Tax Return and Late Filing