Tag: irs

irs loosens retirement rules for harvey victims

IRS Loosening Retirement Plan Rules For Harvey Victims

irs loosens retirement rules for harvey victims The devastation in South East Texas on account of Hurricane Harvey has residents and neighbors working day and night to dry out and recover what they can. The IRS has loosened some retirement plan rules to help with the hardships being endured…

“The Internal Revenue Service granted additional relief to victims of Hurricane Harvey on Wednesday by allowing 401(k)s and other employer-sponsored retirement plans to give loans and hardship distributions to aid them without incurring penalties…” [ Read more here ]

Avoid IRS Troubles With Your Taxes

Tax time may not be everyone’s favorite time of the year, but at Sterling Accounting, there’s no lost sleep! Don’t run into troubles with the IRS over your taxes – be sure you are going to rank on their good side with the expert help of Sterling Accounting.

“More Americans who pay their income taxes each quarter are being penalized by the IRS for making mistakes or missing payments.

There’s been a nearly 33% jump — from almost 7.5 million to nearly 10 million — in the number of penalties levied between fiscal years 2007 and 2016, IRS data show…” [ Read more here ]

IRS Plans Out Online Tax Appeals Conferences

Insurance Dedicated Funds (IDFs)Want to skip the court room with your IRS tax issues? It may be an option on the table soon, as the IRS is planning out an online tax appeals conference system to aid your battle…

“Resolving your tax issues with the Internal Revenue Service (IRS) just got a little bit easier – assuming you have an internet connection. The IRS has announced that the Office of Appeals will pilot a new “web-based virtual conference option” for taxpayers and their representatives…” [ Read more here ]

mayweather tax battle with irs

IRS Lays Off Floyd Mayweather Following Reported Pay Off

mayweather tax battle with irs It seems the numbers surrounding the Floyd Mayweather vs IRS situation is getting murkier, as the IRS is being forced to lay off the boxer following a big chunk of cash he paid out… “A new report says that Floyd Mayweather’s $3.3 Mill tax lien has been released by the IRS, even though he appears to still owe the IRS a whopping $29 million. If true, it might make you wonder why the IRS often pushes so relentlessly to collect, but seems to ease off in some cases…” [ Read more here ]