Tag Archives: IRS

A Tax Reform State of Mind

The tax code is complex and can create burdens for people and companies. And change does not come often. The last time the tax code was overhauled was in 1986. So what (if anything) should be done to reform it? … Continue reading

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Stopping Thieves from Stealing Tax Refunds

Want your refund right away? Well, fraudsters do too! For Tax Identity Theft Awareness Week, today’s WatchBlog focuses on why identity theft refund fraud is a problem and what the IRS is doing to stop this fraud and help its … Continue reading

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What You Should Know About the Earned Income Tax Credit

Do you know whether you’re eligible for the Earned Income Tax Credit? For the EITC to work as Congress intended, it’s important that eligible taxpayers are aware of the credit and know how to properly claim it. One of the … Continue reading

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Tackling the Tax Code – How the IRS Communicates with Taxpayers

The tax code is complex, so taxpayers rely on the IRS to help them understand and follow the law. But the IRS publishes thousands of guidance documents a year, so where should taxpayers start? As we near the end of … Continue reading

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Achieving Financial Benefits—One Action at a Time

Since 2011, we’ve outlined actions federal agencies and Congress can take to reduce fragmentation, overlap, and duplication in federal programs and activities—work that resulted in $56 billion in financial benefits to the federal government between fiscal years 2010 and 2015 … Continue reading

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The Stubborn Problem of Identity Theft Tax Refund Fraud (podcast)

The Internal Revenue Service estimates that it paid out more than $3 billion in identity theft tax refund fraud in 2014—i.e., fraudsters using stolen identities to file taxes in someone else’s name, collecting tax refunds, and then disappearing. Jay McTigue, … Continue reading

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The Taxman Cometh

Usually, April 15 is the deadline for filing federal individual income tax returns. However, this year, due to Washington, D.C.’s celebration of Emancipation Day on Friday, April 15, the deadline for most of the nation is today, April 18. (Due … Continue reading

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What Large Corporations Pay in Income Tax (podcast)

The corporate federal income tax rate tops out at 35 percent. But what do corporations actually pay? We recently reviewed federal corporate income tax, and how much of it U.S. corporations paid. Listen to Jessica Lucas-Judy, a director in our … Continue reading

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Keeping IRS Audits Fair

April 18th is the deadline for filing taxes. But after the crunch—and perhaps a collective sigh of relief from taxpayers—the IRS’s work continues. That includes identifying a small percentage of returns to examine more carefully. These audits help ensure a … Continue reading

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Preventing Potentially Billions of Dollars in ID Theft Tax Refund Fraud

Two things cause stress for just about everybody: taxes and identity theft. And when those two things come together, the result can be a nightmare. For Tax Identity Theft Awareness Week, today’s WatchBlog focuses on how the IRS can combat … Continue reading

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