IRS

IRS Arrests 11 for Tax Fraud and Identity Theft Schemes

IRS Arrests 11 for Tax Fraud and Identity Theft Schemes

Internal Revenue Service has been increasing its efforts to crack down in recent weeks on tax-related identity theft, working with the Justice Department and federal prosecutors.

During shutdown, IRS will issue tax refunds, but not audit

During shutdown, IRS will issue tax refunds, but not audit

Since the shutdown started in December, the agency has been operating under a plan that had fewer than 10,000 employees working during the shutdown, mostly to keep computers running and investigate crimes.

For many business taxpayers, time is running out to elect out of new 100-percent depreciation deduction for 2017

For many business taxpayers, time is running out to elect out of new 100-percent depreciation deduction for 2017

The IRS reminds business taxpayers who placed qualifying property in service during 2017 but choose not to claim the new 100-percent depreciation deduction, that they have a limited time to file the required election with the IRS. In general, individuals and calendar-year corporations must file the election with the IRS by Oct. 15, 2018. The new 100-percent deduction allows businesses to write off most depreciable business assets in the year they are placed in service.

IRS alerts taxpayers: Scammers scheming around Oct. 15 deadline; Here’s what to do

IRS alerts taxpayers: Scammers scheming around Oct. 15 deadline; Here’s what to do

The Internal Revenue Service is reminding taxpayers to beware of criminals who continue using devious tactics to steal money and personal information from unsuspecting victims, especially as the fall season approaches.