Internal Revenue Service
Chairing a hearing of the House Ways and Means oversight subcommittee, U.S. Rep. Peter Roskam (R-Wheaton) said a General Accounting Office report has shown the same kind of risks now exist as when Congress found conservative groups and others were unjustly singled out for tax audits.
Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.
It’s easy to make a mistake on your taxes, especially if you are a new business owner or running a small business. Before you file, dot your i’s and cross your t’s by making sure to use the correct tax forms.
With less than two days until 2015, there are still a couple ways you could maximize your deductions, and ease your income tax bill for 2014.
A federal judge has sentenced Illinois state Rep. LaShawn Ford to probation and a fine for shortchanging the Internal Revenue Service of $3,782.
It’s one of the largest scams of its kind and victims are on the hook for more than a million dollars as con-artists pose as Internal Revenue Service agents.
No arrests were made at the site of the raid, and no charges have been filed in the case.
Experts recommend using some type of guidance to navigate forms and maximize your returns.
The IRS expects 75 percent of all 2012 returns will get a refund, so if you haven’t started preparing your taxes yet, do it.
The Internal Revenue service has launched a nationwide attack on the problem of identity theft and false filing of tax returns.
Taxpayers can go online to check to see if the IRS owes them cash.
Illinois residents who changed addresses this year may want to check with the Internal Revenue Service, because the agency might have a check waiting.