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Internal Revenue Service

Jan 3, 2011

Long past glory days, Burke’s shuts its doors

As he began to pack away decades of memorabilia Monday, Bill Beery III recalled the glory days of Burke’s Café & Restaurant. There was former Gov. Marvin Mandel and his entourage of lawyers eating there nearly each day during his corruption trial in 1977, Broadway Joe Namath and other New York Jets teammates ordering steaks […]

Dec 15, 2010

IRS audits jump by 11 percent; wealthiest targeted

WASHINGTON — The Internal Revenue Service is making it a bit riskier to cheat on your taxes. The tax agency increased the number of returns it audited by nearly 11 percent this year, statistics released Wednesday show. Wealthy taxpayers and big businesses were most likely to be targeted. The IRS also stepped up audits of […]

Dec 8, 2010

New tax requirement could hurt landlords

Owners of rental property will soon face tough new tax reporting requirements and stiff penalties if they don’t comply. The federal law that goes into effect Jan. 1 applies equally to landlords of multiple units, investors with a handful of properties and individuals who own a vacation home that they rent out for part of […]

Nov 25, 2010

Bill introduced to end ‘paperwork nightmare’ created by new health care law

Starting in January, a provision of the comprehensive health care bill passed this year by Congress could create a “paperwork nightmare” for thousands of Maryland businesses by drastically increasing the number of 1099 tax forms they have to file, business groups and accountants say. The provision was tucked into the bill even though it has […]

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