September 19, 2018

IRS Employees’ Extra Week of Vacation Has a Few Conditions

Condition 1: They won't be paid; Condition 2: Jesus, does it matter? They won't be paid.  

David Cay Johnston has the scoop:

The IRS told employees Friday that it will shut down entirely for five days because of the across-the-board spending cuts mandated by Congress.
 
All IRS employees received an email Friday that cited five dates and said: 
 
All public-facing operations will be closed on these dates, including our toll-free operations and Taxpayer Assistance Centers. Some mission-essential IT and security personnel, who maintain systems and building safety, may need to work on these furlough days, however they will be taking furlough days on alternative dates within those pay periods. Everyone is covered by this furlough, and that means everyone from the Acting Commissioner and executives to managers and employees.
The five definite days are May 24, June 14, July 5, July 22, and August 30, although DCJ reports that Colleen Kelley, the union president, said two more furlough days are possible. 
 
And just for grins — well, not really — some IRS employees are taking it to the streets: 
On Monday IRS workers in lower Manhattan plan a public protest to the cuts and what some of them say is pressure for the highest paid auditors, who make $150,000 annually, to leave the agency.
NBD. It's nothing a Deloitte hiring bonanza can't solve!
 
 

 

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UBS Closer to Getting the McCarthy Treatment

IRS_logo-thumb-150x140.jpgIf you’ve got a Swiss bank account, here’s hoping you opened it because it was convenient for your monthly skiing/Toblerone getaway.
The U.S. and Swiss governments have agreed to share more tax information in order to crack down on all the tax dodgers out there that send their money offshore. The timing of this agreement is is especially diabolical because the IRS is currently trying to get Swiss bank behemoth UBS to name names of over 50,000 American clients.
Hearings in Miami are scheduled for next month to see if the names can be released, however, the Swiss have stated that this may violate Swiss law of double-secret-no-tattling-on-clients.
Ultimately, the Swiss Federal Council and Parliament will decide if the new agreement is kosh but judging by the Obama Administration’s hard-on for closing tax loopholes, they’ll probably play ball.

U.S. and Switzerland to Share More Tax Data
[DealBook/NYT]

H&R Block Suggests That You Start Saving Receipts

IRS_logo-thumb-150x140.jpgH&R Block announced yesterday that it expects the IRS to get less kind and gentle in the coming years as the Service attempts to close the $345 billion tax gap.
The announcement states that the IRS is nearly doubling its budget for next year and that last year, 1 in 99 individual tax returns were audited as compared to 1 in 202 in 2000.
Maybe the Democrats do want all our money…
Audits Double This Decade [H&R Block Press Release]