Tax News

The seeds of the current Internal Revenue Service targeting scandal were planted more than five decades ago, sprouting from an obscure rule issued in 1959.

Thousands of tea party supporters rallied Wednesday at the U.S. Capitol, cheering on proposals to take the enforcement of Obamacare out of the IRS, suspend the IRS's power to perform audits, and abolish the agency altogether along with the income tax it enforces in favor of what is called a Fair Tax.

An influential Republican senator says the Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of automatic... Already reeling from a pair of scandals, the Internal Revenue Service is drawing new criticism over plans to hand out millions of ... (more)

Thousands of tea party activists gathered Wednesday outside the Capitol in loud protest of the Internal Revenue Service, seeking to keep the beleaguered agency's scandal afloat nearly six weeks after the news first broke.

According to Councilman Jay Byars, the additional penny tax would be added to all purchases county wide.

The state should have almost $397 million in uncommitted funds leftover at end of the current budget year, Ohio's budget director said Tuesday before a legislative panel that's working to put the final touches on the next state spending plan.

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In this June 11, 2013, photo, Sen. Chuck Grassley, R-Iowa, ranking Republican on the Senate Judiciary Committee speaks on Capitol Hill in Washington.

Mount Airy Mayor Deborah Cochran and Commissioner Jon Cawley go over figures during a workshop Monday which culminated with the adoption of the 2013-2014 city budget.

An Internal Revenue Service manager and self-described conservative Republican said the close scrutiny of tea party groups' tax forms originated in his Cincinnati IRS office and not in Washington, according to a full transcript of his interview by congressional investigators released Tuesday.

The mayors of New York, Los Angeles, Chicago and 15 other cities are reviving a push against letting food stamps be used to buy soda and other sugary drinks.

Lois Lerner, head of the IRS unit that decides whether to grant tax-exempt status to groups, leaves after being dismissed from a House Oversight and Government Reform Committee hearing in May. Hundreds of pages of transcribed interviews reveal that IRS employees in Washington were involved at an early stage in the improper targeting of Tea Party ... (more)

State officials say the next contract for taxpayers' credit monitoring services must be issued next month to prevent a coverage lapse.

According to the Kingsport Times-News the proposal was prepared by former schools finance director Myron Dale, who was fired Monday.

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"This budget holds the line on taxes while directing taxpayer dollars toward education, public safety and other top priorities," said Commissioner Phil Norris, Chairman of the Board of Commissioners.

A northwest Missouri will go to prison for a scheme that netted them about $800,000 in federal income tax refunds they didn't deserve.

Liberal groups such as Greenpeace and People for the Ethical Treatment of Animals say they were targeted, too, by past administrations.

Billionaire investor Peter R. Kellogg and IAT Reinsurance Co. Ltd ., the Bermuda-based insurance company his family owns, are suing the Internal Revenue Service for refunds of $186 million in taxes and interest they paid after the IRS revoked IAT's tax-exemption retroactively.

Most teenagers mowing lawns, sacking groceries, babysitting or toiling away at other summer work know the importance of showing up on time, being responsible and having a good attitude.