Tax breaks. We all want them. But sometimes things don't quite work out as planned. That tax discconect was a recurring theme in my posts last week at my other tax blog.
They've been waiting, some for months, for refunds.
The IRS is having difficulty processing this tax provision. And the reasons for such problems and subsequent refund delays are not satisfying affected filers. They've banded together to share their sad tax tales on a special Facebook page.
Another group of filers who take advantage of offshore tax accounts are coming under renewed fire.
Sen. Carl Levin (D-Mich.) has introduced the Stop Tax Haven Abuse Act, which he says will stem "offshore trickery" by closing offshore tax loopholes and strengthening offshore tax enforcement.
Levin has been trying for years to get his colleagues to act on offshore tax havens. This might be the year he succeeds. Congress is scratching for every possibly dollar and Levine estimates that the measures he proposes will bring $100 billion to the U.S. Treasury each year.
Catch up on the details over at my Bankrate Taxes Blog. And if you miss any posts at my other tax blog, you can find a wrap-up on them here each Saturday.
- The homebuyer credit: It's baaacckkk!
- The IRS is not a loan operation
- Delaware, the great U.S. tax haven
- Tax carrot + stick nab 14,700 scofflaws
- Tax cheat crackdown, at home and abroad
- Last week at my other tax blog Archives Page
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