NEWSWIRE

• IRS to Increase Audits of Prior- and Subsequent-Year Tax Returns

  The Internal Revenue Service needs to strengthen its correspondence audit selection process by auditing more of the prior- and subsequent-year tax returns of noncompliant income tax filers, according to a new government report.

  • Treasury and IRS Propose Rules for Affordable Care Act Information Reporting

    The Treasury Department and the Internal Revenue Service have issued proposed regulations to implement the information reporting requirements for insurers and certain employers under the Affordable Care Act.

    • Man Pays $7K Tax Bill in Single Dollars

      A disgruntled Pennsylvania man protested his $7,143 tax bill by paying it—in single dollar bills, for a video he later posted to YouTube.

      • Obama’s Choice to Run IRS Reports Up to $27.4 Million Wealth

        John Koskinen, nominated to become the next Internal Revenue Service commissioner, has a net worth between $7.1 million and $27.4 million, according to a financial disclosure released by the Obama administration.

        • G20 Leaders Agree on Corporate Tax Evasion Crackdown

          The Group of 20 world leaders issued a declaration last week calling for a crackdown on cross-border tax evasion.