Inside these posts: IRS

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IRS to stop releasing taxpayer debt information

The Internal Revenue Service said Thursday that  it will end its policy of releasing information about back taxes and other debts taxpayers owe in the coming tax season.

The information, called debt indicators, has been included on acknowledgments the IRS sends tax preparers when it receives returns filed electronically. Get the full story »

IRS sends Conrad Black $71M tax bill

From the National Post of Canada | The Internal Revenue Service has sent imprisoned newspaper baron Conrad Black a bill for $71-million in unpaid taxes and penalties for income between 1998 and 2003, court records show. Black, who previously headed the parent company of the Chicago Sun-Times and other newspapers, is serving a 6.5 year sentence at a federal prison in Florida for fraud. He , has asked the U.S. Tax Court to throw out the assessment, which seeks payment for the years 1998 to 2003.

CEO of BCI Aircraft leasing company arrested

By Ameet Sachdev | The chief executive of a Chicago aircraft leasing company was arrested Tuesday for allegedly engaging in a commercial bribery scheme, according to the U.S. attorney’s office in Chicago.
Brian Hollnagel, who founded BCI Aircraft Leasing Inc. in the late 1990s, was released today on $1.7 million secured bond, along with home confinement and electronic monitoring after appearing before U.S. District Judge Amy St. Eve, said the U.S. attorney’s office. Hollnagel pleaded not guilty to one count of wire fraud.

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