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IRS To Partner With Private Debt Collectors In 2017

  The Internal Revenue Service announced recently that it will authorize specific private collection agencies to collect federal tax debts. The IRS has received authorization to allow designated private debt collectors to collect tax liabilities from taxpayers. As the...

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Google Facing Back Taxes Up To $400 Million?

Tax officials state that Google Indonesia, who records their profits at Google’s Asia Pacific headquarters, politely refused to be audited in June causing major suspicion. This resulted in Indonesia’s tax agency turning the case into a criminal one, which will...

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IRS Demands Over $2 Million From Nelly

Rap artist Cornell Haynes Jr., known as Nelly, faces tax problems with the Internal Revenue Service (IRS). Nelly has been given about a 2.4 million dollar federal tax lien for 2013, according to insiders from TMZ. He is at risk to lose his other properties and all his...

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IRS Impersonators Take On New Approach

Criminals impersonating the Internal Revenue Service (IRS) have been targeting anyone with a phone number. Menacing phone calls are being made to civilians by scammers. Initially, scammers would make live phone calls when impersonating the IRS. However, taxpayers are...

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IRS Slaps Real Housewives Star With Tax Lien

The Real Housewives are going through some tax problems with the Internal Revenue Service (IRS), according to PEOPLE.com. Linnethia Monique Leakes, who is one of the housewives and former Dancing with the Stars competitor, owes more than $800,000 in back taxes for the...

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IRS To Tax Team USA Medalists

The 2016 Olympics are finally here. Team USA’s 554 athletes have traveled to Rio de Janeiro, Brazil to compete in the Olympic Games. United States athletes who win gold, silver or bronze medals receive monetary awards. However, winning doesn’t come cheap. The Internal...

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Facebook Could Owe IRS Billions Of Dollars

Facebook’s website was launched on August 4th, 2004 by Mark Zuckerberg, along with the help of some friends from Harvard. Facebook currently has over 1.5 billion users, which increases by 20% annually. There are also 1.13 billion people using the social media platform...

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Taxpayers May Receive Incorrect Tax Notice From The IRS

It’s hard to get everything done before a holiday or vacation, right? Inevitably we forget something – leave medicine on the counter or neglect to reschedule an appointment for when we’re out of town. Well the IRS forgets things too – this year they forgot to enter...

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Court Denies IRS Access To Offshore Tax Records In Lawsuit

The Internal Revenue Service lost its court case over access to offshore tax records, according to Bloomberg. The denial makes it tougher for the IRS to access tax records of Americans with offshore bank accounts. Foreign bank account reporting is an issue the IRS has...

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IRS Scammers Continue Offering IRS Tax Relief

Not only are the fake Internal Revenue Service scammers refusing to give up, but these scammers are also continuing to get more convincing, according to KOIN News. Prior to contacting these victims, IRS scammers collect personal data about the taxpayers they target....

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Gamers Selling ‘Pokémon GO’ Accounts Facing IRS Back Taxes

Gamers are now selling their Pokémon Go accounts for thousands of dollars on e-commerce websites such as eBay and Craigslist. Not only are these entrepreneurs risking losing their accounts, but they also have the Internal Revenue Service on their backs as well. Gamers...

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Benefits Of Foreign Bank Accounts

Although the Internal Revenue Service has been cracking down on offshore bank accounts, there are still a handful of positives that come with foreign accounts – as long as you follow the rules. According to Kelly Phillips Erb of Forbes.com, account holders must pay a...

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Lionel Messi Facing Jail Term In Spain For Tax Fraud

According to BBC News, football superstar Lionel Messi has been sentenced to 21 months in prison due to tax fraud. Jorge Messi, Lionel's father, was also given a jail term for tax fraud of near $4.5 million between 2007 and 2009. Because of Spanish law, neither Lionel...

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IRS Report: Central Iowa Casino Owes Up To $60 Million

According to an IRS report, Prairie Meadows, an Iowa casino, owes up to $60 million in IRS back taxes and penalties. Why? Because an IRS audit has determined that the Iowa casino has been operating more like a business rather than a nonprofit organization. The IRS has...

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IRS Hits Fat Joe With Fat Lien of $1.1 Million

  Rapper Fat Joe, real name Joseph Cartagena, owes over $1 million for allegedly failing to pay taxes on his income from 2008, 2009, 2010 and 2014, according to BOSSIP.com. Unfortunately for the rapper, the IRS has placed a lien on his assets. A tax lien is a...

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IRS Takes Records On U.S. Citizen’s Account in Singapore

UBS Group AG, the largest Swiss bank, has put an end to their legal fight with the Internal Revenue Service. The bank has agreed to hand over the Foreign Bank Account Report for Ching-Ye Hsiaw, a U.S. citizen living in China. After the IRS filed a petition, a federal...

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BEWARE: Fake Charity Scams Involving Orlando Mass Shooting

The Internal Revenue Service (IRS) has released a warning to consumers regarding fake charity scams related to last week’s mass shooting in Orlando, Florida. In the statement, the IRS recommends consumers to pursue well-known charitable groups. IRS advises donors to...

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House Bans IRS From Demanding Nonprofit Donor Lists

On Tuesday, June 14, the House voted to ban the Internal Revenue Service (IRS) from requiring nonprofit organizations to list their donors on tax returns. This decision was made after the IRS failed to keep the information confidential on numerous occasions. “This...

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Are Gifts Taxable?

Are gifts taxable income? According to the IRS, a gift is defined as “any transfer to an individual, either directly or indirectly, where full consideration (measured in money or money’s worth) is not received in return." Gifts from family or friends are not taxable...

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Warning: IRS Impersonators Target Students In Latest Scheme

The Internal Revenue Service (IRS) has released a warning to taxpayers regarding fraudulent phone calls from IRS impersonators commanding payment for a non-existent tax, labeled the “Federal Student Tax.” In this scenario, IRS impersonators are threatening to call the...

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Five Suspects Arrested For IRS Phone Scams Fraud

Five suspects were arrested and charged in Miami, Florida for impersonating Internal Revenue Service (IRS) agents, according to J. Russell George, Treasury Inspector General for Tax Administration (TIGTA). “These arrests indicate that TIGTA is making significant...

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