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Gingrich May Have Ducked Medicare Tax

He could owe tens of thousands, tax lawyers say

(Newser) - Newt Gingrich's tax returns might qualify him for an audit, tax attorneys tell USA Today, saying that the presidential contender may have dodged paying tens of thousands in Medicare tax. Gingrich's campaign contends that "the salary and distribution were handled properly and legally." The matter stems...

IRS to Lohan: We Want Our $93K

Lindsay apparently failed to pay taxes in 2009

(Newser) - Among the things overlooked on Lindsay Lohan's to-do list in 2009: rehab and paying taxes. TMZ reports that the IRS has obtained a $93,000 lien against the actress because she never got around to filing her federal return. If she doesn't pay up, the agency can seize...

In 2011, IRS Audited 12% of Millionaires

Also of note: Tax day has changed

(Newser) - Cheer up 99%; at least you're not getting audited. The IRS turned up the heat on the wealthy in 2011, auditing 12% of people earning a million dollars or more, according to figures released yesterday. That's up from 8% of millionaires in 2010 and 6% in 2009. By...

Ron Paul's Anti-Government Sentiment Could Affect Democrats and Republicans: Nicholas Lemann

 The Danger 
 of Ron Paul 
opinion
Jan 2, 2012 3:43 PM CST

The Danger of Ron Paul

Candidate's anti-government sentiment could have a long wick: Lemann

(Newser) - The popularity of Ron Paul's anti-government zeal should give Democrats and Republicans alike a reason to pause, Nicholas Lemann writes in the New Yorker . First, consider how radical a Paul presidency would be: IRS and income tax abolished; no foreign wars; no foreign aid; five federal departments gone ... and...

Billionaires' Tax Tricks Hide Huge Gains

Millions go unreported thanks to 'unrealized appreciation'

(Newser) - If President Obama wants a "Buffett Rule" to keep billionaires paying their fair share of taxes, he’ll have to look at the "800-pound gorilla" in the room, tax experts say. That gorilla, explains one expert, is "unrealized appreciation"—cash that America’s wealthiest take in...

IRS Cites 1982 Tax Code, Charges Pot Shop $2.5M

Ties to illegal drugs mean Harborside Health Center can't deduct the rent

(Newser) - Bummer news for an Oakland marijuana dispensary that calls itself the world's largest: IRS auditors say it owes $2.5 million in back taxes for 2007 and 2008, a figure so high it may force Harborside Health Center to close its doors, reports the San Francisco Chronicle . Here's...

12K Take IRS' Amnesty Deal for Offshore Loot

Agency pulls in $2.7 billion

(Newser) - Tax evaders are rushing to the IRS, cash in hand, thanks to a partial amnesty program aimed at recovering money in offshore bank accounts. In all 12,000 tax cheats came forward, the agency announced yesterday, bringing in a total of $2.7 billion. “The results we’re seeing...

How Many Millionaires Paid No Income Tax in '09? 1,470

Average income fell 6.1%, new data shows

(Newser) - Some harsh figures are tucked into newly released income tax data from 2009: As the economy shed jobs, so too did the country shed taxpayers. Two million fewer individuals and couples filed with the IRS, while some 1,470 people earning $1 million or more didn’t pay a dime,...

IRS Boss: Sorry About My Rude Employees

Douglas Shulman offers public apology

(Newser) - Ever had a run-in with a rude IRS agent? Well, Douglas Shulman’s sorry about that. The IRS commissioner offered a rare apology today to three identity theft victims who said they’d been mistreated by his employees, the AP reports. “We need to walk in each taxpayer’s...

IRS Agent Gets 3 Years for Cheating on Taxes

Albert Bront made fraudulent claims for himself, family members

(Newser) - In a sign there is some justice in this world, a California-based IRS agent has been sentenced to three years in prison for ... cheating on his taxes. Albert Bront earlier pleaded guilty to filing false tax returns for himself and two innocent relatives; the 51-year-old must also repay $127,000...

Tax Cheats Raked in Federal Stimulus Bucks

Thousands of businesses owing tax bills collected $24B

(Newser) - Thousands of US companies that raked in federal stimulus money are tax cheats who owe the government millions. At least 3,700 government contractors and nonprofit organizations that received more than $24 billion in stimulus funds owed $757 million in back taxes while they were collecting their booty, according to...

Kabbalah Centre at Heart of Tax Probe

Ex-CFO aims to 'bring down' operation

(Newser) - The Kabbalah Centre in Los Angeles is taking center stage as details emerge on a federal probe involving two of Madonna’s charities . The IRS is investigating whether the family in charge of the organization used its nonprofit dollars for personal gain, sources tell the Los Angeles Times . The Berg...

GOP Bill Gives IRS New Job: Policing Abortion Payments

Victims of rape or incest would need documentation proving it

(Newser) - If the GOP’s "No Taxpayer Funding for Abortion Act" becomes law, it could force the IRS to ask prying questions about abortion in any tax audit it conducts, an executive from the nonpartisan Joint Tax Committee told Congress this week. Under the bill, women who received any kind...

Enron Whistleblower Finally Gets His Sweet Reward

More than 10 years later, he collects $1.1M from IRS

(Newser) - Two years before Enron’s 2001 implosion, a whistleblower tipped off the IRS to the company’s abusive tax shelters and fictitious income. Now that whistleblower is finally getting his reward, to the tune of $1.1 million from the IRS, the Washington Post reports. He remains anonymous, but his...

Tax Deadline April 18 Thanks to ... Abraham Lincoln?

DC Emancipation Day pushes filing deadline 3 days

(Newser) - America's taxpayers have an extra three days to procrastinate this year, thanks to a holiday only celebrated in the nation's capital, AP reports. Abraham Lincoln freed the District of Columbia's slaves on April 16, 1862—eight months before the Emancipation Proclamation—and since this year's DC Emancipation Day falls on...

Another Temporary Budget Strains Federal Agencies

SEC can't hire; foreign aid money blocked; no end in sight

(Newser) - Because Democrats and Republicans are at loggerheads on spending, Congress had to approve yet another stopgap budget measure yesterday to keep the government running through March. While federal agencies avoided a shutdown, they've got to keep operating at last year's spending levels, a development that amounts to a budget cut...

Obama Should Scrap the Current Tax Code
Obama Should Scrap the Current Tax Code
David Brooks
Dec 3, 2010 12:37 PM CST

Obama Should Scrap the Current Tax Code

David Brooks: Starting over might actually unite both parties

(Newser) - Barack Obama shouldn’t worry about tweaking the current tax system—he should try to replace it, writes David Brooks of the New York Times . In Brooks’ vision, Obama would go before the American people and end the Bush tax cut debate. “I have my own views,” he...

IRS Has Info on Abducted Kids—But Can't Divulge

Privacy laws prevent agency from giving up data from returns

(Newser) - IRS tax returns could probably help reunite hundreds of kids a year with their rightful parent, bur privacy laws forbid the agency from helping investigators. As the New York Times explains, even people who abduct kids in custody disputes sometimes take the odd step of declaring them on their returns....

Time for Big Business to Squash Tea Party

Corporate America must battle extremism

(Newser) - Big business may see the Tea Party as harmless, or perhaps even helpful, but it's time to “take a closer look:" the movement’s aspirations aren’t in its interests, writes Robert Reich in the Christian Science Monitor . Some 60% of Tea Partiers want, for example, to dump...

IRS to Broke Spanish Hipster: You Owe $172M

Esparza Bofill somehow racked up that bill in less than a year in NYC

(Newser) - The IRS says Marcos Esparza Bofill owes them $172 million in back taxes—which is pretty hard to believe, given that Esparza is a broke Spanish musician who recently had to borrow money from his relatives to pay his bills. The tax lien, which you can see on The Smoking...

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