A Pecos woman pleaded guilty in federal court to impersonating an IRS agent over the course of eight years, ultimately cheating a man out of more than $150,000. Sandra Vega, 48, pleaded guilty to four counts of wire fraud and one count of false impersonation of a federal employee, according to a Monday (Nov. 9)…
A complaint has been filed to the United States Internal Revenue Service calling for an investigation into claims an individual on the Fifa payroll was working privately as a housekeeper for Gianni Infantino. If the IRS investigates and finds the claims to be proven then Fifa could lose its tax-exempt status in the US. Fifa…
The IRS has announced new federal income tax brackets and standard deductions for 2027. In its announcement Thursday, the agency raised the income thresholds for each bracket, which apply to tax year 2027 for returns filed in 2028. The IRS also increased figures for other key provisions, including long-term capital gains brackets, the estate and gift tax…
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) designated 6,576 census tracts across all 50 states, territories and the District of Columbia as new Qualified Opportunity Zones, according to a Thursday announcement. The action, which will take effect Jan. 1, 2027, will permanently renew the federal Opportunity Zone tax incentive and…
If you own a few index ETFs in a brokerage account, a new IRS notice includes a sentence written with you in mind. On September 28, 2026, the Treasury Department and the IRS released Notice 2026-62. It goes after a small group of engineered deals that ride on the same machinery that makes ETFs tax-efficient….
ACE and more than 40 other higher education associations are urging the Internal Revenue Service (IRS) to withdraw a Trump administration proposal that could strip private, nonprofit colleges and universities of their tax-exempt status over alleged racial discrimination in admissions, scholarships, and other campus programs. In comments submitted to the IRS?, the associations argue that the proposal…
An Augusta business owner was sentenced to just over a year in prison for failing to forward employees’ payroll taxes to the Internal Revenue Service, according to a Department of Justice press release. Court documents show Bradley Wayne Base, 58, pleaded guilty to one count of failure to pay over tax. The court sentenced him…
A final notice should be exactly what it claims to be — final. But a US Tax Court dismissal last month shows what can happen when the IRS sends a partnership two supposedly final notices for the same tax year. In Arindel Farm LLC v. Commissioner, the IRS reportedly mailed a Florida horse-breeding partnership two…
The Internal Revenue Service said it is rolling out a program next year where lower- and moderate-income tax filers could receive up to $1,000 a year toward their retirement plan. The IRS sent out CP321J notices to some taxpayers about their potential eligibility for the new Saver’s Match federal program. The agency said those who…
Alabama taxpayers affected by Hurricane Isaias within 40 counties have been given an extended deadline for tax relief, the Internal Revenue Service announced Wednesday. The agency said that affected business owners and individuals now have until Feb. 4, 2027 to file tax returns or make payments due to Gov. Kay Ivey’s disaster declaration on Oct….
