Internal Revenue Service (IRS)

Texas businessman faces tax evasion sentence of up to five years in prison and three years supervised released, plus up to a $100,000 fine and restitution.

The Internal Revenue Service has issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

The Internal Revenue Service says it is goint to waive the late-payment penalty for individuals and businesses who request a tax filing extension because they are have forms attached to their returns that weren't available until February.

The IRS has announced a revision to its voluntary classification settlement program (VCSP) that provides partial relief from federal employment taxes for eligible taxpayers who agree to prospectively treat workers as employees.

The Internal Revenue Service has begun issuing test results to tax return preparers who have taken the new return preparer competency test.

The IRS recently released its annual “Dirty Dozen” for 2012, a list of tax schemes that taxpayers should be aware of to avoid falling victim to identity theft and return preparer fraud.

“Every person who prepares returns for other taxpayers (including CPAs) is now required to have a PTIN, and to update it each year.”

Taxpayers can get the most out of various recovery tax benefits and get a jump on preparing their 2011 federal income tax returns by consulting a newly revised comprehensive tax guide now available on IRS.gov.