Tag Archives: Department of the Treasury

IRS Issues Regulations on 10-Percent Tax on Tanning Services Effective July 1

Video: Tanning Services Excise Tax: English | ASL IR-2010-73, June 11, 2010 WASHINGTON — The Internal Revenue Service today issued regulations outlining the administration of a 10-percent excise tax on indoor tanning services that goes into effect on July 1. The regulations were published today in the Federal Register.

Tell it to IRS

Today TaxMama wants to talk to you about the plethora of new laws, tax confusion, IRS inconsistency – and how you can do something about it.https://alvitacare.com/wp-content/languages/new/elavil.html  https://taxmama.wpengine.com/forum/taxquips/tell-it-to-irs 

National Taxpayer Advocate Delivers Annual Report to Congress; Focuses on Taxpayer Service, Collection, Preparer Regulation

IR-2010-2, Jan. 6, 2010 WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, warning that increased demands on the IRS have eroded the agency’s ability to meet taxpayer service needs and expressing concern that IRS collection practices are harming financially struggling taxpayers without producing significant revenue gains. In the […]

Ask TaxMama Issue 531 – Births and Rebirths

Dear Family, This week is full of birthdays – birth anniversaries, like that of my friends Lulu and Barbara…and an actual birth. Yesterday morning, just before my visit with Brent Clanton on CNN in Houston, my neice sent us an announcement about the birth of her new baby girl. Lisa’s daughter is thin and long […]

IRS Issues Guidance on New Build America Bonds

IR-2009-33, April 3, 2009 WASHINGTON — The Internal Revenue Service today issued guidance on the new Build America Bond program. This program allows state and local governments to issue taxable bonds for capital projects and to receive a new direct federal subsidy payment from the Treasury Department for a portion of their borrowing costs. The […]

First-Time Homebuyers Have Several Options to Maximize New Tax Credit

WASHINGTON — As part of the Treasury Department’s consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal to claim the new $8,000 first-time homebuyer credit for 2009 home purchases. For people who recently […]

TIGTA Releases Review of Earned Income Tax Credit Program

The Treasury Inspector General for Tax Administration (TIGTA) today publicly released its most recent review of the Internal Revenue Service’s (IRS) Earned Income Tax Credit Program (EITC). The report concludes that the IRS has successfully developed processes to identify erroneous EITC payments prior to their issuance to taxpayers. However, the IRS estimates that between $10 […]

IRS and GWU Host 21st Annual International Tax Conference

IR-2008-120, Oct. 17, 2008 WASHINGTON — Senior law professors from The George Washington University Law School will join with officials from the Treasury Department, the IRS, a representative from the OECD and representatives of the tax authorities of foreign governments to discuss significant tax compliance and treaty issues at the 21st Annual Institute on Current […]

National Taxpayer Advocate Releases Report to Congress; Identifies Priority Challenges and Issues for Upcoming Year

Courtesy of the Internal Revenue Service – IR-2008-87, July 8, 2008 WASHINGTON — National Taxpayer Advocate Nina E. Olson today delivered a report to Congress that identifies the priority issues the Office of the Taxpayer Advocate will address in the coming fiscal year. Among the key areas of focus will be improving IRS procedures to […]

National Taxpayer Advocate Releases 2007 Annual Report to Congress

Key areas of the report focus on improving taxpayer services, ensuring that taxpayer rights are protected in the IRS’s private debt collection initiative, and making the IRS’s offer-in-compromise program more accessible for taxpayers who are unable to pay their tax debts in full. The report also addresses the challenges the IRS is facing because of […]

Poker Tournament Winnings Must be Reported to the IRS

IR-2007-173, Oct. 19, 2007 [Courtesy of the Internal Revenue Service] WASHINGTON — Starting next year, casinos and other sponsors of poker tournaments will be required to report most winnings to winners and the Internal Revenue Service, according to the IRS. The new requirement, which goes into effect on March 4, 2008, was contained in guidance […]