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Internal Revenue Service
One Tax Preparer Doubles as a Sex Worker, The Other Does Psychic Readings
By David Moye - AOL NewsMost of Lydia Tinker's customers come to her because she does a great tax return, but some come back because they want a psychic reading. For the past 35 years, Tinker, a licensed tax preparer in La Mesa, Calif., has offered psychic readings from the spirit world to her customers, many of whom would simply be happy with a big refund check. "Numbers speak to me," Tinker, 64, told AOL News. "I look at a birth date or a Social Security number and information comes to me about a person connected with the client. I'm cautious about who I tell this to, but sometimes I just have to reveal it. ...
Senate to Vote to Repeal Part of Obama's Health Law
By not in system - AOL NewsWASHINGTON - Congress is poised to send the White House its first rollback of last year's health care law, a bipartisan repeal of a burdensome tax reporting requirement that's widely unpopular with businesses. Even President Barack Obama is eager to see it gone. The Senate is scheduled to vote on the bill Tuesday. Republicans hope it is the first of many such bills, resulting in the entire health care law being scrapped. Democrats say the bill is part of an inevitable tinkering that will be needed to improve the health measure. The bill, which passed the House last month, would rescind a tax ...
Michelle Obama to Promote Breastfeeding as IRS Gives Tax Breaks for Nursing
By Lynn Sweet - Politics DailyFirst lady Michelle Obama will be speaking out to remove barriers to breastfeeding, Politics Daily has learned, throwing the spotlight on nursing as a way to reduce childhood obesity. This comes as the Obama administration in the past year has made several moves to encourage breastfeeding -- including a push for more flexible workplace rules and an Internal Revenue Service ruling on Thursday that breast pumps and other nursing supplies qualify for tax breaks. Mrs. Obama -- who has spoken in public about nursing her youngest daughter, Sasha -- is going to tread carefully in what might be a ...
IRS Announces Amnesty Deal for Offshore Accounts
By Mara Gay - AOL NewsThe Internal Revenue Service is offering a new amnesty deal for offshore accounts, promising that tax evaders who pay their debts won't face prosecution but making it clear that those who do not could end up behind bars. IRS Commissioner Doug Shulman said the agency is making the offer ahead of ramped-up enforcement against Americans who use offshore accounts to evade federal taxes. "We are not letting up on pursuing offshore tax evasion, and there will continue to be more in the works," he said, according to The Wall Street Journal. "If you come in voluntarily, you pay a steep price but ...
Justice Clarence Thomas Amends 1997-2009 Financial Forms
By Andrew Cohen - Politics DailyU.S. Supreme Court Associate Justice Clarence Thomas said Monday that he had misunderstood the filing and reporting instructions when he failed for 13 years to properly disclose his wife's income on federal financial forms. The justice then formally amended each of his forms, spanning the years 1997-2009, the accurate contents of which are required from the justices under the Ethics in Government Act. Justice Thomas, an appointee of George H.W. Bush who is now in his 20th year on the high court, was put on the defensive over the weekend following a widely circulated report in Friday's Los ...
Wyclef for President! But Is He Even Eligible for the Job?
By Jordan Carr - AOL News(Aug. 5) -- So you want to know if Wyclef Jean will be the next president of half of a Caribbean island that was devastated by an earthquake earlier this year. It's a question a lot of people will soon be asking. But it also gets ahead of things. The better question is: Is he even eligible? Let's go to Article 135 (e) of the Haitian Constitution to find out: To be elected president of the Republic of Haiti, a candidate must "have resided in the country for five consecutive years before the date of the elections." Does this apply to Jean? Perhaps not. In this Time video interview between a ...
Airline Add-On Fees Need More Disclosure, Watchdog Says
By Tom Diemer - Politics DailyThe government needs to do a better job of making sure travelers know about the numerous fees that airlines are tacking onto ticket prices, a watchdog organization said Wednesday. The add-ons are making it hard for consumers to comparison-shop for the best ticket price. The Government Accountability Office, an investigative arm of Congress, said U.S. Transportation officials should require more disclosure of the fees, not only from the airlines but also from travel agencies. In addition to charging for bags, some carriers are also nailing consumers for carry-on baggage, blankets, snacks and ...
Explain This to IRS: Tax Agency Is $32 Billion Short
By Tamara Lytle - AOL News(Jan. 6) -- The Internal Revenue Service suddenly reduced the amount of revenue it reported from delinquent collections by $32 billion, or about 27 percent, providing little information about what happened to the money, according to a report released Wednesday morning. "There is an astonishing lack of transparency as to what is included in these revenue figures and how they are computed," said National Taxpayer Advocate Nina E. Olson as part of her annual report to Congress. "The failure to highlight and explain revisions of such magnitude erodes confidence in IRS's data reporting." The IRS ...
IRS to Regulate Tax Preparers
By Christopher Weber - Politics DailyThe Internal Revenue Service said it will start regulating tax preparation companies for the first time. Tax preparers will have to register with the federal government and company employees will have to pass competency tests and stay up to date on tax laws by taking 15 hours of classes every year, the IRS announced Monday. The rules affect employees of national firms such as H&R Block as well as independent tax preparers. Until now these firms had little or no oversight, the Associated Press reported. Certified public accountants are already subject to professional standards and aren't ...
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