New York (CNNMoney) - Swipe your card at a local store and you might be creating some serious tax headaches for the business owner.
The Internal Revenue Service has sent out letters to 20,000 small businesses since fall 2012, notifying them of "possible income under-reporting."FULL STORY
Washington (CNN) - House Oversight Committee Chairman Darrell Issa demanded Wednesday that the Federal Election Commission turn over records of more than five years of communications with the Internal Revenue Service - a move that significantly expands the California Republican's ongoing probe of alleged federal targeting of conservative groups.
In a letter to FEC Chairwoman Ellen Weintraub - a Democrat - Issa cited CNN reporting on Monday that raises "the prospect of inappropriate coordination between the IRS and the FEC about tax-exempt entities."FULL STORY
Washington (CNN) - The vice chairman of the Federal Election Commission told CNN on Monday he has seen numerous undisclosed e-mails between FEC staffers and the Internal Revenue Service that raise new questions about potential collusion between the two federal agencies in the alleged targeting of conservative political groups.
Don McGahn, a Republican FEC commissioner, said an investigator from his agency contacted Lois Lerner - the IRS employee at the center of the political storm now engulfing that agency - to discuss the status of one such conservative political advocacy group, the American Future Fund.FULL STORY
Washington (CNN) - Washington's war over alleged Internal Revenue Service targeting of conservative groups escalated sharply on Friday as Republican House Oversight Committee Chairman Darrell Issa issued a subpoena to Treasury Secretary Jack Lew, and the head of the IRS accused Issa of making a series of "inaccurate and unfair" statements earlier in the week.
At a testy hearing Friday morning - shortly before Congress broke for its summer recess - Issa blasted acting IRS chief Daniel Werfel for "slow-rolling" congressional investigators by refusing to release requested records in a timely manner.FULL STORY
Washington (CNN) - President Barack Obama announced on Thursday that he will nominate John Koskinen, a veteran of both public service and the private sector, to take over the embattled Internal Revenue Service.
A blog post on the White House website described Koskinen, who recently turned 74, as "a retired corporate restructuring expert" who would become commissioner of the IRS upon confirmation by the Senate.FULL STORY
Washington (CNN) - The Republican congressman spearheading a House probe into alleged Internal Revenue Service targeting of conservative political groups accused the head of the IRS Tuesday of obstructing his panel's investigation.
California GOP Rep. Darrell Issa, chairman of the House Oversight and Government Reform Committee, warned acting IRS chief Daniel Werfel that if "the IRS continues to hinder the committee's investigation in any manner, the committee will be forced to consider use of compulsory process."FULL STORY
Washington (CNN) - The inspector general who reported Internal Revenue Service targeting of conservative groups said Thursday that he didn't have information until last week that the word "progressive" also was on a list of criteria for extra scrutiny of tax-exempt applications.
At a hearing of the House Oversight Committee, Treasury Inspector General for Tax Administration J. Russell George said the information that liberal groups also were likely targeted only came to him on July 9.FULL STORY
Washington (CNN) - In the latest salvo of a pitched political battle over Internal Revenue Service targeting, the top Democrat on the House Oversight Committee said Tuesday that interviews with 15 tax agency employees found no evidence of bias or White House manipulation alleged by Republicans.
"Despite an extremely aggressive investigation involving thousands of documents and more than a dozen interviews of IRS employees, the overwhelming evidence before the committee reveals no political motivation or White House involvement in this process," said the memo made public by Rep. Elijah Cummings of Maryland, the panel's ranking Democrat.FULL STORY
Washington (CNN) - Congressional Democrats revealed new documents on Friday indicating the Internal Revenue Service subjected both liberal and conservative organizations to additional tax scrutiny in recent years, raising new questions about assertions of unfair politically based targeting.
Maryland Rep. Elijah Cummings, the top Democrat on the House committee investigating the matter, asked his GOP counterpart to summon the Treasury Department's chief investigator, J. Russell George, to a panel hearing scheduled for next Thursday.FULL STORY
Washington (CNNMoney) - IRS chief Danny Werfel told employees on Tuesday he's working to stop bonuses and instead cut back on furloughs.
The news comes after an outcry over IRS plans to award $70 million in bonuses by Sept. 30. Werfel told his 90,000 Internal Revenue Service workforce that he aims to reverse the plan to award bonuses, according to a memo. He blamed the move on the sequester - the $85 billion in forced spending cuts that has hit all federal agencies.FULL STORY