By The Associated Press | PUBLISHED: March 12, 2018 at 2:51 pm | UPDATED: March 12, 2018 at 4:43 pm Can’t pay the government? With a little more than five weeks until this year’s tax filing deadline of April 17, many small business owners are tussling with the question, “How am I going to pay my taxes?” When owners haven’t set aside enough money to cover what they owe the government, they do have options, including using savings, borrowing money or working out a payment plan with the IRS. But a caveat: Not filing a return because you can’t pay isn’t one of the choices. The IRS levies hefty penalties when a tax return is filed after the deadline: 5 percent of the unpaid taxes for each month or part of a month that a tax return is late. And you’ll be paying interest on the money you owe. If you decide to get an extension of the filling deadline, the IRS requires you to estimate and pay your taxes. If you can’t pay, you still need to … [Read more...] about Can’t pay the IRS? Here are some options
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Episode 685: Larry vs. The IRS
Planet Money #685: Larry vs. The IRS #685: Larry vs. The IRS Listen · 20:35 20:35 Toggle more options Download Embed Embed <iframe src="https://www.npr.org/player/embed/599605842/599615966" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player"> subscribe to podcast Listen on NPR One Apple Podcasts Google Play Music RSS link Facebook Twitter Flipboard Email Enlarge this image Courtesy of Larry Williams Courtesy of Larry Williams Note: This episode originally aired in 2016. A lot of people dream of not paying their taxes. Larry Williams did just that. He scoured the fine print of IRS code, talked to lawyers, settled on a plan, and then...stopped paying taxes. #685: Larry vs. The IRS #685: Larry vs. The IRS Listen · 20:35 20:35 Toggle more options Download Embed Embed <iframe … [Read more...] about Episode 685: Larry vs. The IRS
IRS Reveals The Top Tax Scams Of 2018
MoneyTipsThe Dirty Dozen — a 1967 war movie starring Lee Marvin, Charles Bronson, and Jim Brown, or a list of the top twelve tax scams as identified by the Internal Revenue Service? How about both?Each year, the IRS releases a list of the "Dirty Dozen" tax scams to watch out for during tax season. This year's list, shown below, includes classic scams as well as some new twists.1. Identity Theft – Tax time brings extra activity among thieves looking for Social Security numbers and other personal information that allows them to falsely claim refunds (not to mention running up bills and draining bank accounts). Be very protective of your personal information. If you would like to monitor your credit to prevent identity theft and see your credit reports and scores, check out our credit monitoring service.2. Phishing – The IRS does not e-mail you or direct you to websites regarding any bill without prior contact. Do not be fooled by e-mails encouraging you to click on … [Read more...] about IRS Reveals The Top Tax Scams Of 2018
IRS releases tool you can use to check if your employer is messing up your taxes
The Internal Revenue Service released a new tool Wednesday designed to help millions of Americans ensure they're not dramatically underpaying or overpaying their taxes under the new Republican tax law.The online calculator allows taxpayers to compare how much their employer is withholding for taxes on their pay stub to a government projection of how much should be withheld. The tool makes that calculation based on income, household size, and other variables.The move is aimed at giving workers a chance to make sure their employers are withholding the correct amount, and then to prod their bosses if the numbers don't line up.Click here to visit the IRS withholding calculator site »"What the IRS is trying to do is to say to people, 'Here is the new law: are you sure your withholding choices are still right?,'" said Mark Mazur, a tax expert at the nonpartisan Tax Policy Center who served in the Treasury Department under President Barack Obama. "The IRS does not want people to get to … [Read more...] about IRS releases tool you can use to check if your employer is messing up your taxes
IRS agent pleads not guilty to aggravated rape and other charges for allegedly assaulting intern
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Travis Andersen Globe Staff April 05, 2018 An Internal Revenue Service agent got a 21-year-old intern drunk last July and then allegedly handcuffed her in his government-issued car in Boston before shoving “his service weapon deep into her mouth” and raping her, a Suffolk prosecutor said Thursday.The allegations were made during the arraignment of James R. Clarke, 44, in Suffolk Superior Court. He pleaded not guilty to charges including aggravated rape, assault and battery with a dangerous weapon, and indecent assault and battery.The agent — who was assigned to the IRS criminal investigations office in Boston at the time of the incident — was released on personal recognizance after a magistrate rejected a prosecution request that bail be set at $10,000 cash. Advertisement Clarke and his father left court without speaking to reporters. … [Read more...] about IRS agent pleads not guilty to aggravated rape and other charges for allegedly assaulting intern