IRS turns to data analytics to track crypto tax evasion accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
With the new administration calling for a significant increase in funding for the IRS -– many potential tax whistleblowers are considering whether they should now come forward and submit a Form 211 to the IRS.
Ken Oerter still remembers the day he fell ill with the mysterious sickness that was rampaging across the country, killing children and forcing families to isolate in their homes.
He grew dizzy and weak just before he passed out on the playground of his country school near Reynolds in September 1945. Eight-year-old Ken was eventually loaded into the family car and driven over bumpy back roads to a hospital in Omaha where his parents received the grim news: he had polio, an incurable disease known to cause paralysis or even death.
For Oerter, now 83, and others of his generation, the ongoing COVID-19 pandemic has brought back memories of the fear and heartbreak caused by polio.Â
alliantgroup Welcomes Former IRS Small Business Commissioner Eric Hylton as Firm s Newest National Director
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HOUSTON, May 5, 2021 /PRNewswire/ alliantgroup is proud to announce the addition of Eric Hylton as the tax and management consulting firm s National Director of Compliance. Hylton comes to alliantgroup from the Internal Revenue Service where he spent 30 years culminating in his appointment as Commissioner of the Small Business and Self-Employed Division.
Hylton held several prominent positions at the IRS, including serving as Deputy of the Criminal Investigation Division and as CI s head of International Operations. He will use his years of experience at the IRS to assist alliantgroup s clients as an ambassador for U.S. small and medium sized businesses (SMBs) and in helping others become tax compliant.
Political reality is likely to curb, not stop, Biden’s proposed tax increases
Narrow Democratic majorities in the House and Senate provide plenty of political obstacles that could impede the president s tax plan.
April 29, 2021 4 MINS
President Biden is likely to succeed in raising taxes on the wealthy but not as much as he is proposing, experts said.
Biden introduced Wednesday night the American Families Plan, a $1.8 trillion package of spending to expand education, childcare, nutrition and other programs and establish national paid family and medical leave.
He would pay for his ambitious social policy reform by raising taxes on high-income earners. His proposals include boosting the highest individual rate to 39.6% for people making more than $400,000 annually, increasing capital gains rates from 20% to more than 40% for households making more than $1 million annually and ending the step-up basis for inherited assets for capital gains in excess of $