Former Detroit Pistons Owner Hit With $2 Billion Estate Tax Bill
The Detroit Free Press reports that IRS lawyers are defending a tax bill of more than $2 billion sent to the estate of the now [...]
Innocent Spouse Relief Extended
When spouses sign a joint tax return, they are both stating that what is included on the return is correct. They are also agreeing that [...]
How $1MM In Offshore Funds Can Cost You Over $4MM in Taxes
Having undeclared funds in offshore bank accounts is one of the easiest ways to ensure an IRS headache. As Jim Rome once educated daredevil Evel Knievel, [...]
IRS Offers Streamlined Processing for Certain 501(c)(4)s
The IRS just announced that if you've had a 501(c)(4) application languishing for more than 120 days, then they will allow you to be able [...]
Will Prop 13 Lead to a Detroit-Like Bankruptcy for CA Cities?
Recently on MSNBC's Morning Joe, former Obama Economic advisor Steven Rattner declared that the slew of municipal bankruptcy filings were simply the result of California's [...]
IRS Inspector General Confirms Improper Access of Political Donors’ Tax Records
From Accounting Today:Sen. Chuck Grassley, R-Iowa, the former chairman of the Senate Finance Committee, is looking into findings from the Treasury Inspector General for Tax [...]