Irs, Tax Evasion | featured news

Worried the Internal Revenue Service might target you for an audit? You probably should be if you own a small business in one of the wealthy suburbs of Los Angeles. You might also be wary if you're a small-business owner in one of dozens of communities near San Francisco, Houston, Atlanta or the District of Columbia.

The Internal Revenue Service has awarded an ex-banker $104 million for providing information about overseas tax cheats -- the largest amount ever awarded by the agency, lawyers for the whistleblower announced Tuesday.

Christie Brinkley vowed to repay the IRS the $500,000 she owes in back taxes.

Don't try this at home: The IRS has announced its annual list of tax scams to avoid.

Can the same government that condemns Wikileaks for the disclosure of confidential information also accept information from that organization for the purpose of pursuing legal action? My assumption is “yes”. After all the government has used information from convicted felons to convict others. The government could also wait and let other media outlets, like Forbes, provide the names of the presumed guilty so that they can claim the information did not come directly from Wikileaks.

The Internal Revenue Service on Tuesday disclosed the criteria being used by the Swiss banking giant UBS to select names of American clients that will be turned over to the agency as part of a settlement of a tax evasion case.

Under an amnesty program, the IRS is allowing taxpayers to avoid prosecution for failing to report those accounts. Tax attorneys have been besieged by wealthy clients who are lining up to apply.

Wealthy U.S.

Negotiators initial settlement that averts legal showdown over U.S. government's landmark challenge to Swiss bank secrecy, lawyer says.

U.S. has been seeking data on depositors suspected of using UBS bank accounts to hide cash from IRS.

The chairman of the U.S. Senate Finance Committee plans to introduce legislation to give U.S. tax collectors more tools to police offshore tax evasion, an aide to the senator said on Wednesday.