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Tag Archives: Internal Revenue Service

Yellen tells IRS to develop modernization plan in 6 months

Now that President Joe Biden signed Democrats' expansive climate, tax and health care bill into law, Treasury Secretary Janet Yellen has directed the IRS to develop a plan within six months outlining how the tax agency will overhaul its technology, customer service and hiring processes.

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Audits more likely for recent family business transactions

Family business owners who worked frantically to offload company shares to the next generation of owners in the months leading up to the New Year can breathe easier now that Congress passed a law to avert anticipated tax rate increases and tax-exempt gift limits. But CPAs and attorneys warn the work isn’t over quite yet.

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Court denies feds’ appeal in insurance case (UPDATE)

The Wisconsin Supreme Court refused Thursday to allow the federal government to appeal an order barring the Internal Revenue Service from pursuing claims against a special account the state created to protect a struggling insurance company's policyholders.

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Wis. justices consider out-of-state DOJ attorneys

Earlier this month, the Wisconsin Supreme Court heard oral arguments to decide whether attorneys with the U.S. Department of Justice can appear in Wisconsin state courts without being members of the bar or being admitted pro hac vice.

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2 Wis. women plead guilty to income tax scheme

MILWAUKEE (AP) — Two Milwaukee women have pleaded guilty in an income tax scheme. U.S. Attorney James Santelle for the Eastern District of Wisconsin announced the pleas Tuesday. Santelle said 34-year-old Roshunda Smith and 46-year-old Linda Fay Townsend pleaded guilty to conspiring to file fraudulent claims for federal income tax refunds. Prosecutors say from February through October 2009, Smith and ...

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Conspiracy added to charges against neurosurgeon

MILWAUKEE (AP) – A Milwaukee area neurosurgeon is facing additional federal charges that accuse him of conspiring to defraud the Internal Revenue Service. A new indictment was returned Wednesday in Milwaukee alleging Dr. Arvind Ahuja, of Greendale, conspired with bankers to conceal foreign bank accounts from the IRS. The indictment alleges Anhuja told bankers he didn’t want any mail sent ...

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IRS issues notice on 2010 estates

After months of speculation and anticipation on the part of estate planning attorneys and tax practitioners, the Internal Revenue Service has issued a Notice and Revenue Procedure for 2010 estates seeking to exempt out of the estate tax.

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Greendale man indicted on 8 counts of tax fraud

MILWAUKEE (AP) — A federal grand jury has indicted a Greendale man on eight counts of tax fraud. The indictment handed down Tuesday accuses Arvind Ahuja of filing false tax returns and failing to report $8.7 million held in foreign accounts. According to the U.S. Department of Justice, Ahuja failed to report the bank accounts to the Internal Revenue Service ...

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IRS issues guidance on health care

The Internal Revenue Service recently issued guidance on a provision of the Patient Protection and Affordable Care Act that requires employers to report the cost of health coverage on employees’ W-2 forms. The requirement is informational only and does not affect an employee’s income determination or whether any particular coverage is excludable from gross income. Notice 2011-28 answers questions for ...

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