The IRS has a standard called IDES: "The International Data Exchange Service is an electronic delivery point where Financial Institutions and Host Country Tax Authorities can transmit and exchange FATCA data with the United States."
Despite the IRS apologizing for seizing the bank accounts of small business owners on mere suspicion of wrongdoing, Judge Napolitano highlights how this began and why it's likely to continue regardless of political posturing.
Puerto Rico is considering an extreme response to childhood obesity: a fat tax. Sen. Valle introduced a bill to fine parents of obese children as a form of neglect. The bill suggests that fines would be imposed when the obesity is viewed as
The IRS said it is changing its policies and apologizing for seizing banks accounts from otherwise law-abiding business owners simply because they structured bank transactions to avoid federal reporting requirements.
According to Amber Lyon, a 3-time Emmy award winning journalist, CNN is paid by the US and foreign governments to selectively report on events. The Obama administration pay CNN for editorial control over their content.
The Obama budget calls for a stealth increase in the death tax rate from 40% to nearly 60%. Here's how it works: Under current law, when you inherit an asset your basis in the asset is the higher of the fair market value at the time of death or the d
The incoming chairman of the Senate Commerce, Science and Transportation Committee says raising the federal fuel taxes is among the options under consideration to replenish the dwindling Highway Trust Fund.
U.S. Representative Michael Grimm of New York, who pleaded guilty last week to a federal felony tax charge, will resign his seat on Jan. 5 because he does not feel he can be completely effective in Congress, he said on Monday.
Although IRS officials removed the levy, they first withdrew all the funds from her account. They said that, too, was in error and the funds would be returned to her. The funds have not been replaced, Ms. O'Donnell said.
Who is getting the most votes so far? *Drumroll please*... Most of those 2,256 comments are votes for Larken Rose, an anarchist writer who is well-known for challenging the IRS over the federal tax liability of citizens.
Federal prosecutors have agreed to dismiss a case against Carole Hinders, an Iowa restaurant owner whose bank account was seized by the I.R.S. based solely on a pattern of cash deposits, Ms. Hinders' lawyer said Friday.
Insurance lobbyists are threatening to cancel the Super Bowl unless Congress renews the Terrorism Risk Insurance Act to cover insurers so that they will not have to actually pay out for any costs associated with terrorism.
Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street's blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout,...
If the quadrillion dollar derivatives bubble implodes, who should be stuck with the bill? Well, if the "too big to fail" banks have their way it will be you and I. Right now, lobbyists for the big Wall Street banks are pushing really hard to incl
The Miccosukees for years resisted IRS efforts to investigate whether it is failing to report and withhold federal income tax on money it distributes to members. The Everglades-based tribe operates a profitable casino in western Miami-Dade County.
The IRS is seizing both federal and state tax refunds for individuals whom the Social Security Administration accuses of having received excessive benefits years ago often with zero evidence of the overpayments,
Today's world is a strange place. We are inundated with signals from early on in life, encouraging each of us to walk a particular path, establishing blinders on us along the way to discourage us from looking for alternatives to what the herd is do
During the past year, Washington has shelled out billions to give bureaucrats paid vacations in lieu of discipline; to ship coal to Germany for no reason; to design better golf clubs; and to give bunny rabbits massages, among many other things.
"Listen, I know how this works. How much money will it take to make this go away?" Officers told him not to try to bribe them but he then said "Look, I am an IRS agent and I can help you in other ways if you let me go home and make this go away."
"A lot of times, instead of paying a tax rate that should be 30 to 40%, they are paying rates between 80 or 90%," Cornelius, the accountant, said. "I even have a client right now that is paying more than 100% effective tax rate."
Illegal Children Treated to Ponies, Petting Farms, Guitar Lessons and More: Costing US Taxpayers About $1000.00 a Day Per Child . One of the contractors housing some of the surge of illegal immigrant children from this summer offers them a petting zo
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