IRS

IRS Fines 8 Million Americans, 0.3 Million of Them From Low Income Group

IRS has fined some 8 million people and 1.4 million households are forecast to fall prey of fines due to ignorance on new healthcare law. Commonly criticized as the Obama Care Law, the new law instructs all Americans to go through insurance net. But mainly due to ignorance about mandatory submission of tax returns and moreover legally remain exempted from tax net, have fall victim to count fine for $210 each.

IRS, With State Dept Now Have the Power to Deny Passport If Taxes Aren't Paid

In a new bill passed alongside the FAST Act, the IRS gains the ability to deny citizens their passports if they're found to be in more than $50,000 in back taxes.

People with unpaid IRS debt can have their Passports cancelled

A bill that that may cancel the passports of people with unpaid IRS loans is going to be approved very soon.

WhatsApp CEO Jan Koum sold $300 million worth of Facebook stock to pay of taxes

WhatsApp cofounder Jan Kuom sold his Facebook stock amounting to $300 million to pay off taxes he got after he sold his company.

Estate and Gift Tax Limits for 2016 Now $5.45 Million per Individual, Says IRS

The Internal Revenue Service issued Wednesday an adjustment to the estate and gift tax exemption for 2016, which is now $5.45 million per individual from last year’s $5.43 million.

Yahoo to spin off Alibaba stake even without tax-free guarantee

Yahoo is pushing ahead with its plan to spin off its stake in Alibaba despite lacking a guarantee from the IRS that it would be tax-free. The Web search company has been facing mounting pressure to spin off its Alibaba stake, whose value has almost halved this year.

Understanding What IRS Doesn't Say on Section 1038 - Exclude Gain Sale of Home and Recognize Gain on Repossession

Understanding what the IRS Code says is not enough; it is also important to understand what it doesn’t say, as what recently happened with the DeBough case.

IRS Rejects Yahoo's Tax-Free Alibaba Spin-off Request, Sending Stocks Down 4%

IRS rejects Yahoo’s plan for a tax-free Alibaba spin-off, which Yahoo hopes would have been a move to give back money to shareholders. Yahoo shares dropped 4% after the news.

Offshore tax evasion hunt continues as more Swiss banks enter prosecution agreements

Secret accounts are being exposed as the IRS gathers more data from 40,000 sources to hunt down and prosecute tax evaders.

What to do with excess contribution in your retirement account?

There are times employees are not aware they have paid too much for their contribution and do not know what to do. The Internal Revenue Service is ready to help.

Internal Revenue Service Website Hacked, 100,000 "Get Transcript" Information Stolen

The Internal Revenue Service's website was hacked and 100,000 information of taxpayers has been stolen. The IRS announced this on their news website and included in the stolen information are tax returns and other tax-related information.

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Latest Stories

How Copper Fuels Infrastructure Development from Power Grids to Telecom

Copper's use in global infrastructure development is becoming increasingly critical, especially as emerging markets expand and industrialize. The metal, valued for its electrical conductivity, is now indispensable in energy grids, transportation networks, and telecommunications. As nations worldwide focus on upgrading infrastructure to meet the demands of modern economies and climate targets, copper demand is set to rise continually year over year.

A Busy October for H.I.G. Capital: Multi-Sector Investments Reflecting Market Agility

As global markets continue to present both challenges and opportunities, H.I.G. Capital, the Miami-based alternative investment powerhouse, has launched a series of strategic moves that underscore its agility and foresight. With $65 billion of capital under management, H.I.G. has long been known for its diverse investment approach. However, the firm's activities in October 2024 paint a picture of a company not just participating in market trends but actively shaping them.

The Surge in Copper Prices: Predictions and Market Reactions

The global copper market has been experiencing a significant surge in prices, driven by supply constraints and increasing demand. This trend has caught the attention of investors, industry analysts, and policymakers alike, as copper is needed in various sectors, particularly in the growing fields of renewable energy and electric vehicles. Here are some of the key factors behind the price surge, market reactions, and future predictions for copper prices.

Beyond Wealth: Giving Compass for Business Simplifies Philanthropy for Financial Advisors

Giving Compass for Business, one of these innovations is gaining popularity since it provides a fresh method for incorporating generosity into wealth management.

Belgian Billionaire Shukhrat Ibragimov Puts Private Jet on Market for $46m

Shukhrat Ibragimov, the chairman of mining giant Eurasian Resources Group (ERG), has put his Dassault Falcon 8X up for sale for $46 million.

Must Read

IC Funded: Revolutionizing Prop Trading for Retail Traders

IC Markets has recently launched its proprietary trading platform, IC Funded, and it's already creating a buzz in the trading community. What started as a soft launch has now captured the attention of traders worldwide, highlighting a significant shift in how retail traders can access capital and participate in the markets.

Protecting Your Practice: The Importance of Professional Liability Insurance for Professionals

In today's complex and litigious business environment, professionals across various industries face numerous risks that could jeopardise their practice. From legal claims and client disputes to regulatory investigations, the potential threats are vast.

As Copper M&A Wars Escalate, Solaris Resources' Warintza Project Stands Out

The mining industry has been busy with mergers and acquisitions (M&A) activity in recent years, and 2024 has been one of the busiest. Major mining companies are all vying for a piece of the action in the promising copper sector. As the global push towards electrification and clean energy intensifies, the demand for copper—a critical component in electric vehicles, renewable energy systems, and infrastructure—is expected to soar. This has sparked even more interest from mining giants looking to secure their position for production.

Amin Makhlouf: Redefining Real Estate Transactions with Digital Innovation

In an industry often rooted in tradition, Amin Makhlouf brings a fresh perspective, combining youthful energy with groundbreaking ideas in real estate. As the founder of Makyee, he's transforming the way properties are bought and sold in Dubai, aiming to make these processes more accessible, efficient, and transparent.

Is Mr. Black Being Silenced by X in His Mission to Bring About the Messianic Age?

The enigmatic artist Mr. Black, known for his cryptic street art and ambitious 21,000-piece ordinal collection on the Bitcoin blockchain, claims that the Messianic Age will be revealed once the collection is fully minted. However, recent developments suggest that Mr. Black might be facing censorship on the social media platform X, formerly known as Twitter.

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