Internal Revenue Service (IRS)

2:42pm

Thu April 19, 2012
Politics

Conservative Group Criticized For Tax-Exempt Status

Originally published on Thu April 19, 2012 4:34 pm

Yum Brands, the company that owns Taco Bell and Pizza Hut, says it's the latest corporation to break ties with the American Legislative Exchange Council — a group that brings state lawmakers and corporate lobbyists together to write legislation.

Liberal groups are pressuring corporations to abandon ALEC, and a dozen companies have now dropped out.

This week, ALEC did some damage control. It said it is shutting down its task force on public safety and elections, which wrote controversial measures on voter ID, "stand your ground" and immigration reform.

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2:34pm

Tue April 17, 2012
Planet Money

Pay Your Taxes: A Cautionary Tale

Originally published on Tue April 17, 2012 4:15 pm

Young Buck, 2004
Nick Ut AP

When IRS agents raided the house of rapper Young Buck, they seized all his things: his white leather dining chairs, his watches, his craps table, his tattoo kit. Even his refrigerator. The Nashville artist, who was once part of 50 Cent's G-Unit, owed hundreds of thousands of dollars in back taxes.

His lawyer, Robin Mitchell Joyce, said he thought Young Buck's taxes were being handled by his business manager. They weren't.

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11:31am

Tue April 17, 2012
Business

Tax Deadline Looms

MoneyBlogNewz-Creative Commons/Flickr

This is the last day procrastinators have to file state and federal income tax returns. Karen Connelly, a spokeswoman for the Internal Revenue Service says only about 20% of Colorado taxpayers have to write a check to the government when filing their taxes. The other 80% receive refunds.

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10:01pm

Thu March 1, 2012
Planet Money

What The IRS Could Learn From Mormons

The money Mormons tithe goes to The Church of Jesus Christ of Latter-day Saints headquarters in Salt Lake City, Utah, and then is distributed to congregations around the world.
Douglas C. Pizac AP

Many religious traditions stress the importance of charity. But Mormons are remarkable for the amount and the precision with which they give to their church.

The Church of Jesus Christ of Latter-day Saints teaches that each Mormon in good standing should tithe 10 percent of his or her income. The money goes right to church headquarters in Salt Lake City and then is distributed back to congregations around the world.

"That's written in stone, and preached from the pulpit," says Gordon Dahl, an economist at the University of California, San Diego, who is Mormon.

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5:00am

Mon April 18, 2011
Business

IRS Issues Reminder About Email Scams

irs.gov

Thousands of Coloradans will be rushing to get their tax returns into the mail on Monday. The busy tax season is also yielding a new crop of email scams, according to the Internal Revenue Service.

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