IRS

Many people working in the food-service industry rely on gratuities provided by customers. Since tips are considered a type of income, tax officials have an interest in those particular earnings. In order to help capture taxes, the Internal Revenue Service will be enforcing a new tip-related tax rule in 2014. According to the new regulation,continue reading…

At one time or another, everybody has imagined what they would do if they won the lottery. Some people would pay off their debt, travel around the world, give to charity or make wise investments. Although there is no set path for lottery winners, one thing is certain: they will face a sizable tax liability.continue reading…

If the Internal Revenue Service gets their way, the way that multinational corporate giants like Apple and Google pay taxes will be changing dramatically. IRS Deputy Chief Counsel Erik Corwin spoke at a gathering of tax attorneys in the nation’s capital recently, and pointed out the currently legal process by which some corporate entities arecontinue reading…

The Internal Revenue Service has a lot of enforcement power over government money and taxpayers as well in Minnesota and all other 50 states. The agency is essentially the biggest “collector” in the country, which is why the agency surely needs a little oversight. The U.S. Treasury Inspector General for Tax Administration is a governmentcontinue reading…

For taxpayers, the Internal Revenue Service is the bad guy in most situations. It is the agency that issues audits that can result in notices of back taxes, penalties and other tax-related issues. A tax attorney will always protect the interests of a taxpayer, but the truth is that there are instances in which thecontinue reading…