Small Business Administration Wants 1099 Requirement Gone December 17, 2010
The Affordable Care Act was passed earlier this year to provide health care benefits to millions of Americans.
Tax Refund Loans Beginning to Show Signs of Limited Availability December 06, 2010
Each year millions of taxpayers opt to receive their tax refund early through their preparer. For example, popular tax preparation companies such as H&R Block, offer clients the opportunity to receive cash in hand (or on a debit card) the same day their taxes are prepared. In fact, 40% of H&R Block clients opt for this alternative versus waiting a few days or weeks for a refund check. What many of these individuals do not realize is they are actually agreeing to a tax refund loan. This year, this option may not be available to as many individuals as it has in the past. Here we look at tax refund loan programs and what is happening within the industry to limit this option in 2011.
Actor Cary Elwes Gets Sawed by the IRS with $68k in Back Taxes November 22, 2010
Ivan Simon Cary Elwes, more commonly known as Cary Elwes has now joined the ever-growing list of past celebrities who have defaulted on their taxes. An English actor (maybe a reason he is having US tx problems) made a name for himself with performances in classic films such as “The Princess Bride,” “Robin Hood: Men in Tights,” and the well-known comedy, “Liar Liar.” It looks like Elwes won’t be able to sneak his way out of this one though as the IRS is after him for a substantial $68,648 in back taxes. This film star and his wife, Lisa, were hit with this burdensome tax lien on September 13th in Los Angeles according to the Detroit News.
Potential Legislation Pushes for Politicians to Disclose Taxes Owed October 25, 2010
While senators are debating tax legislation for Americans, and deciding whether or not to extend Bush tax cuts expiring on December 31st, Oklahoma Senator Tom Coburn introduced a bill to make sure U.S. lawmakers are also paying their taxes. The bill is an extension of legislation introduced previously by three Republic sponsors, Senators Richard Burr, Jon Ensign, and John Thune. They passed legislation on the 15th, which required lawmakers to list tax liabilities owed to federal, state, or local governments.
R&B Singer Omarion Owes IRS Over 110k October 18, 2010
Omarion, or Omari Ismael Grandberry, the 25 year old R&B music artist, actor, dancer, and music judge and more, owes $110,585 to the IRS according to public records. The Detroit News broke the $110k and change tax debt amount down.
