The Internal Revenue Service says it has $917 million in unclaimed tax refunds from 2009, and time is running out to claim them. The refunds are owed to nearly 1 million people who failed to file returns for 2009. Taxpayers must file their 2009 returns by April 15 to claim their refunds. After that, the money becomes property of the U.S. Treasury. [AP]
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The IRS Seriously Isn’t Kidding Around About Your Last Chance to Declare Your Offshore Income
The IRS has decided to give offshore tax scofflaws almost an extra month to rethink their cheater-cheater pumpkin-eater ways, extending the deadline to October 15th from September 23rd. According to the Service, this will be the absolute, final, drop dead chance for offshore account holders to come forward.
Apparently the IRS means biz-nass as 3,000 account holders have already come forward to declare their offshore income. This is compared to less than the 100 taxpayers that came forward all of last year.
You could safely assume that the public flogging of UBS in front of the entire world helped get the IRS’s point across. So now the extension of the deadline seems to be a friendly reminder that you have ONE LAST CHANCE to play ball.
Plus, the Service must have come to their senses and realized that a tax deadline on the 23rd really doesn’t seem to make a damn bit of sense.
IRS extends tax amnesty deadline to October 15 [Reuters via Tax Prof Blog]
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Attention Dallas Cowboys Fans: You Have Another Shot at Season Tickets Courtesy of the IRS
Tomorrow morning at 9 am Dallas time, bring your biggest suitcase filled with consecutively numbered hundos so you can watch Romo disappoint the faithful for yet another season:
The Internal Revenue Service plans to auction the six-seat package Tuesday, with bidding starting at about $185,000.
It’s the first time in at least five years that a season ticket package for any professional sports team has been auctioned to settle a debt, said Clay Sanford, an IRS spokesman in Dallas.
Sanford said the agency’s privacy rules prevented him from identifying the ticket holder. But a document relating to the auction shows the federal government is owed $4.5 million.
Technically, the IRS is auctioning off two contracts offering licenses, or “options,” for six seats. Included in the package are 2010 season tickets for the six seats and parking for the 10 home games.
The licenses grant the holder the right to buy season tickets for a given seat for 30 years. Licenses for those seats sell for $50,000 each, said Cowboys spokesman Brett Daniels.
That would be $300,000 for the six licenses up for bid.
All of the seats are in section C110 between the 40 and 50 yard lines on the lower level, the first level up from the field. The auction includes parking for the 2010 season.
We should tell you that you’ll also have to pay an additional $70,000 “still due on the contracts and to cover transfer fees.”