News

The Louisiana Department of Revenue has issued a release reminding buyers and sellers about the annual 3-day Second Amendment Weekend Sales Tax Holiday for individuals' purchases of eligible firearms, ammunition, and hunting supplies.

The IRS criminal investigation division started and completed more investigations of tax crimes last year as it continues to ramp up enforcement efforts.  The criminal investigation unit surpassed its 2010 goals in several different areas.

A new report concludes that the IRS needs to improve the timeliness and accuracy of it's response to complaints from taxpayers about math error adjustments. 

The IRS announced last week that the interest rates for the fourth quarter will decrease beginning October 1, 2011. 

The IRS will be attempting to track credit and debit card purchases more closely to spot any discrepancies with the income claimed on tax returns.

If you had a serious sickness, you would realize that your time might be limited. You don't have an idea how long it will be before the sickness takes over your body – possibly making treatment futile. Would you go it alone?

Myth: The IRS Can Take Your Money If You Don’t Give It to Them Voluntarily

When it comes to installment payments, it used to be that the IRS wouldn't agree to the arrangement if the taypayer's debt would not get paid off before the statute ran out.

Accounting Today posted an article this morning claiming that undercover investigators from the Treasury Department were kept waiting for sometimes up to 4 hours at some Taxpayer Assistance Centers.  In a few of the cases, they were even told they would have to come back the next day because there were already too many taxpayers in line for the day.

Accounting Today wrote an article regarding the IRS not responding to taxpayer correspondence on time. The IRS has a self-imposed 30 day deadline to report to inquires from taxpayers and it looks like only about 19% of them are receiving timely and accurate responses. The report says the IRS mails "interim letters" to taxpayers, but doesnt provide them with any information specific to their accounts. This leaves the taxpayers not clear on what they need to do next.