With news this week that Denise Rich, ex-wife of a renowned tax-dodger, is renouncing her U.S. citizenship and thereby avoiding taxes, we decided to take a look at other successful citizens who became ex-pats in order to avoid filing a 1040. Apparently it's getting more common as the IRS cracks down on undeclared and untaxed foreign holdings.
Wondering what Uncle Sam does with your hard-earned tax dollars? The White House's Taxpayer Receipt page has been updated for 2011 to help answer that question.
To get started you'll need to enter the social security tax, medicare tax, and income tax that you paid for 2011. If that information isn't handy, you can estimate by choosing from a range of households and incomes, such as single with no children, married with one child, or married with two children.
In return, the site displays how much you doled out in tax dollars to the Fed for last … Read more
Everyone's favorite government agency, the Internal Revenue Service, has launched its own mobile application.
Those of us fortunate enough to qualify for a refund can find out exactly when Uncle Sam will be sending out that check. Entering your Social Security number (which the IRS says is masked and encrypted), filing status, and expected refund amount delivers the due date for your payment.
People who file their federal taxes electronically can check their … Read more
As April 15 approaches, U.S. citizens preparing to file their taxes are susceptible to online scams designed to steal their personal information and, ultimately, their money. Here is a roundup of tips for how people can protect themselves.
First off, the Internal Revenue Service does not initiate taxpayer communications through e-mail, and the agency does not request details on personal information via e-mail. The IRS has detailed information on how to report and identify phishing and e-mail scams and bogus IRS Web sites here. More information about specific tax fraud schemes is here.
The Internal Revenue Service's failure to use strong passwords, install patches quickly, and adequately control access to computer systems and information makes the system vulnerable to insider threats and attacks from outside, a new government report concludes.
The IRS has failed to fix almost 70 percent of control weaknesses and program deficiencies identified a year ago, the Government Accountability Office said in a report released last week.
Specifically, the IRS has corrected or mitigated 28 of 89 weaknesses and deficiencies found, but left 61 of them unresolved, according to the report.
For example, the agency continues to install patches … Read more
It was President Herbert Hoover who campaigned on the promise of prosperity under his administration when he vowed "a chicken in every pot, a car in every garage."
Michigan state Democrats want to do him one better: an iPod for every child. An unsigned editorial in The Detroit News is, to put it mildly, not a fan. "An iPod for every kid? Are they !#$!ing idiots?" the headline screams.
The state is apparently facing a budget crisis--to the tune of $1 billion. On Thursday, House Democrats delivered a spending bill that includes the idea of putting $… Read more