IRS lags on its plan to speed corporate audits
The IRS isn’t effectively auditing corporations despite a change in how the agency conducts tax examinations that was supposed to make the process more efficient, according to the agency watchdog.
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Trump official says tax refunds will go out on time despite shutdown
Russell Vought, acting director of the White House budget office, said customary rules will be changed to make the payments possible. About three-quarters of taxpayers receive annual refunds, giving them an incentive to file their returns early.
IRS issues guidance on deductibility of business meals
The IRS is making it simpler for business owners to deduct the cost of meals with customers and clients.
IRS gives taxpayers extra day to file after website issues
The IRS said that individuals or businesses with a filing or payment due Tuesday now have until midnight Wednesday to complete the task. The Indiana Department of Revenue also extended its deadline.
IRS head sees huge task ahead to administer new tax law
The agency, pummeled for years by criticism from congressional Republicans and funding cuts, now must administer and enforce the most sweeping overhaul of the U.S. tax code in three decades.
Without state fix, federal tax change could cost Indiana firms $100M
Indiana businesses and individual taxpayers might have double the work (and double the cost) to calculate their taxes next year if May’s special session fails to address the problem.
State stops millions in fraudulent tax refunds
Thanks to a fraud-prevention program the Indiana Department of Revenue implemented in 2014, hackers looking to collect refunds owed to other individuals seem to be targeting Hoosiers less often.
Banks poised to reap big gains from tax reform
Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.
Not-for-profits brace for impact of tax bill
Charities are waiting to see whether new tax changes, which will reduce the number of Americans who qualify to lower their federal tax bills by using a deduction for giving, will also reduce donations.
Area residents rush to prepay property taxes to try to secure deduction
But it’s unclear whether some of the people prepaying will actually be able to claim the deduction, as the IRS has issued guidance that limits what qualifies.
Trump names Treasury official to be acting IRS commissioner
The appointment came the same day the Trump administration agreed to a "very substantial" payout to hundreds of tea party groups to settle a class-action lawsuit over burdensome IRS scrutiny in 2012.
Bookkeeper pleads guilty in $1.8M embezzlement scheme
A Shelby County woman has agreed to plead guilty to federal charges of wire fraud and tax evasion after being accused of embezzling from her employer and failing to pay $463,000 in income taxes.
Income tax audits plummet as IRS loses agents to budget cuts
As millions of Americans file their income tax returns, their chances of getting audited by the IRS have rarely been so low.
Emails heat up lawsuit over sale of Pacers stake
Emails appear to buttress the IRS’ case that Herb Simon received a sweetheart deal when he acquired his ailing brother Mel’s 50 percent ownership in the Indiana Pacers in early 2009.
Indiana tax preparer pleads guilty to $1.5M in fraud
A local tax-preparation business owner has pleaded guilty to instructing his employees to prepare more than 2,300 false client tax returns worth $1.5 million.
Watchdog: Budget cuts lead to poor taxpayer service at IRS
Only 37 percent of people who called the IRS for help during tax season were able to reach a person, the report said. For those who got through, the average time on hold was 23 minutes.
U.S. sent 800,000 Healthcare.gov customers wrong tax info
The Obama administration says it sent about 800,000 HealthCare.gov customers the wrong tax information, and officials are asking those consumers to delay filing their 2014 taxes.
IRS cuts taxpayer services as filing returns gets harder
The Internal Revenue Service is reducing taxpayer services to historically low levels just as President Barack Obama's health law will make filing a federal tax return more complicated for millions of families.
IRS workers to receive bonuses of 1 percent
A Treasury Department investigation concluded that previous bonuses totaling $2.8 million had gone to more than 2,800 employees found to have broken agency rules of conduct, including 1,100 employees who owed back taxes.
Archivist: IRS didn’t follow law with lost emails
The Internal Revenue Service did not follow the law when it failed to report the loss of records belonging to a senior IRS executive, the nation's top archivist told Congress on Tuesday.