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7622900

IRNSS-1C

will have two payloads: a navigation payload and CDMA ranging payload in addition with a laser retro-reflector. The payload generates navigation signals at L5 and S-band. The design of the payload makes the IRNSS system inter-operable and compatible with Global Positioning System (GPS) and Galileo systems. The satellite is powered by two solar arrays, which generate up to 1,660 watts, and has a life-time of ten years. IRNSS-1C was launched successfully on 16 October 2014 at 1:32 am IST from Satish Dhawan Space Centre in Sriharikota. An update from ISRO's official Facebook page on 18 October 2014 states that Navigation

7622901

IRNSS-1D

IRNSS-1D is a satellite in the Indian Regional Navigational Satellite System (IRNSS) constellation. The satellite is the fourth of seven in the constellation, launched after IRNSS-1A, IRNSS-1B and IRNSS-1C. The satellite is the only satellite in the constellation slated to provide navigational services to the region. The satellite will be placed in geosynchronous orbit. It was launched successfully on 28 March 2015 onboard ISRO's PSLV-C27 from Satish Dhawan Space Center, Sriharikota. The satellite will help in augmenting the satellite based navigation system of India which is currently under development. The navigational system so developed will be a regional one targeted

7622902

IRNSS-1E

IRNSS-1E is the fifth out of seven in the Indian Regional Navigational Satellite System (IRNSS) series of satellites after IRNSS-1A, IRNSS-1B, IRNSS-1C and IRNSS-1D. It is one among the seven of the IRNSS constellation of satellites launched to provide navigational services to the region. The satellite was placed in geosynchronous orbit. IRNSS-1E has been successfully launched into orbit on January 20, 2016 IRNSS-1E will help augmenting the satellite based navigation system of India which is currently under development. The navigational system so developed will be regional, targeted towards South Asia. The satellite will provide navigation, tracking and mapping services. The

7622903

IRNSS-1E

satellite will have two payloads: a navigation payload and CDMA ranging payload in addition with a laser retro-reflector. The payload generates navigation signals at L5 and S-band. design of the payload makes the IRNSS system interoperable and compatible with Global Positioning System (GPS) and Galileo. The satellite is powered by two solar arrays, which generate power up to 1,660 watts, and has a designed life-time of twelve years. Polar Satellite Launch Vehicle, in its 33rd flight (PSLV-C31), launched IRNSS-1E, the fifth satellite of the Indian Regional Navigation Satellite System (IRNSS). The launch took place from the Second Launch Pad (SLP)

7622904

IRNSS-1F

IRNSS-1F is the sixth navigation satellite out of seven in the Indian Regional Navigational Satellite System (IRNSS) series of satellites after IRNSS-1A, IRNSS-1B, IRNSS-1C, IRNSS-1D and IRNSS-1E. The satellite is one among the seven of the IRNSS constellation of satellites launched to provide navigational services to the region. It was launched aboard a PSLV-XL rocket bearing flight number C32 and was successfully put into geosynchronous orbit at 1601 hrs IST on . The satellite carries two types of payloads. The navigation payload transmit navigation service signals to users and ranging payload consists of C-band transponder that facilitates accurate determination of

7622905

IRNSS-1G

IRNSS-1G was the seventh and final of the Indian Regional Navigation Satellite System (IRNSS) series of satellites after IRNSS-1A, IRNSS-1B, IRNSS-1C, IRNSS-1D, IRNSS-1E and IRNSS-1F. This system of satellites will provide navigational services to the Indian region. The satellite was placed in geosynchronous orbit successfully on April 28, 2016 at 12:50–pm IST. The satellite was launched from the First Launch Pad (FLP) of Satish Dhawan Space Centre, Sriharikota on board PSLV-C33. The countdown of the launch had begun 51:30 hours before at 9:20 a.m. IST on 25 April. After the launch of IRNSS-1G the Indian government named the IRNSS system

7622906

IRNSS-1G

as NAVIC (Navigation Indian Constellation). The satellite is designed for 12 years of life. It has a lift-off mass of and dry mass of . The ranging payload of IRNSS-1G consists of a C-band transponder (automatic receivers and transmitters of radio signals) which facilitates accurate determination of the range of the satellite. It would operate in L-5 and S band spectrums and also has a Rubidium atomic clock. Special thermal control systems are used for key components like this clock. Two panels of solar cells are used to generate 1660W of energy and one Litium-ion 90A-hr battery is used. The

7622907

IRNSS-1H

IRNSS-1H was the eighth in the Indian Regional Navigational Satellite System (IRNSS) series of satellites, after IRNSS-1A, IRNSS-1B, IRNSS-1C, IRNSS-1D, IRNSS-1E, IRNSS-1F and IRNSS-1G. The satellite was intended to replace the failed IRNSS-1A, and complete the constellation of geosynchronous navigation satellites. It was lost in the launch failure of PSLV-C39 on August 31, 2017. IRNSS-1H was India's first satellite actively built by private firms. The Rs 1420-crore independent regional navigation satellite system is developed by India and is similar to Global Positioning System (GPS) of the US, which has 31 satellites currently in orbit. The satellite got separated internally, but

7622908

IRNSS-1I

IRNSS-1I is the eighth satellite in the Indian Regional Navigational Satellite System (IRNSS) series of satellites,In actual IRNSS - 1I is the ninth satellite that launched in IRNSS constellation but it is counting as eighth satellite because IRNSS - 1I is an eighth satellite that has launched successfully in IRNSS constellation.ISRO already launched IRNSS-1A, IRNSS-1B, IRNSS-1C, IRNSS-1D, IRNSS-1E, IRNSS-1F, IRNSS-1G and IRNSS-1H. The satellite is intended to replace the failed IRNSS-1A, and complete the constellation of geosynchronous navigation satellites after IRNSS-1H failed to do so. The satellite's assembly, integration and testing is partly done by a consortium of six small

7622909

IRNSS-1I

firms led by Alpha Design Technologies, a Bengaluru-based aerospace firm under ISAC's supervision. Like its predecessor, IRNSS-1I has two types of payloads, navigation payload and the ranging payload. The navigation payload transmits navigation service signals to the users. This payload is operating in L5 band and S band. A highly accurate Rubidium atomic clock is part of the navigation payload of the satellite. Failure of these Rubidium atomic clocks was the reason for IRNSS-1A to be deemed unfit. The ranging payload consists of transponder which is operated in CDMA mode for two-way range measurements. The IRNSS satellites continuously emites time

7622910

IRNSS-1I

stamped navigation signals, which are received by the ground-based user receivers. The information is then processed by the receivers to derive their own position, velocity and time. The system provides the seamless 24 by 7 services under all weather condition. The satellite will help in completing the satellite based navigation system of India which is currently under development. The IRNSS space segment consists of seven satellites. After the failure of all three Rubidium Atomic clocks on-board IRNSS-1A and the failure of IRNSS-1H to separate from the heat shield of the launch vehicle, IRNSS constellation remains incomplete without this satellite. This

7622911

IROC II

The second year of IROC competition took place over three weekends in 1974 and 1975. IROC II saw the use of the Chevrolet Camaro in all races, which replaced the Porsche Carrera RSR race cars used in the first year of competition. The only track carried over from the first year was Riverside International Raceway, as the series raced on the oval at Daytona International Speedway instead of the infield road course. Michigan International Speedway was also added as the second oval in the schedule, which consisted of four races. Bobby Unser was the series champion, and took home $41,000

7622912

IROC I

The inaugural International Race of Champions was held at two tracks over two weekends in 1973 and 1974. The first three races were held October 27 and 28 at Riverside International Raceway and the final race was held on the Daytona International Speedway road course on February 14, 1974. Champion Mark Donohue won $54000 for his efforts and the championship was determined by prize money rather than points. The races were contested in Porsche Carrera RSR race cars. This was the only IROC to be contested entirely on road courses. Only the top 6 finishing drivers competed in all four

7622913

IROC VII

The seventh year of IROC competition took place in 1979 and 1980. The format carried over from IROC VI in that three qualifying races were held for participants from NASCAR, CART, and Road Racing (which primarily consisted of Formula One, SCCA, and IMSA). The top four finishers in these qualifying races then earned the chance to race in the two final races at Riverside International Raceway and Atlanta Motor Speedway. IROC VII used the Chevrolet Camaro in all races, and this would be the final year for the series before it went on hiatus until 1984. Bobby Allison won the

7622914

IROC VI

The sixth year of IROC competition took place in 1978 and 1979. The format changed from IROC V in that three qualifying races were held for participants from NASCAR, USAC Champ Car, and Road Racing (which primarily consisted of Formula One, SCCA, and IMSA). The top four finishers in these qualifying races then earned the chance to race in the two final races at Riverside International Raceway and Atlanta Motor Speedway. IROC VI used the Chevrolet Camaro in all races. Mario Andretti won the road racing finale en route to the championship, and took home $75,000 for his efforts. The

7622915

IROC XVII

The seventeenth year of IROC competition took place in 1993. IROC XVII was the fourth and final year the Dodge Daytona was used in competition, and continued the format introduced in IROC VIII. Race one took place on the Daytona International Speedway, race two took place at Darlington Raceway, race three was held at Talladega Superspeedway, and race four ran at Michigan International Speedway. Davey Allison won the series championship posthumously after being killed in a helicopter accident at the Talladega Superspeedway. With only one race remaining, Terry Labonte drove the final race, and the points from that race, applied

7622916

IROC XXVII

The 27th season of the Crown Royal International Race of Champions began on Friday, February 14, 2003 at Daytona International Speedway. The roster included 12 drivers from five separate racing leagues. The first race saw Mark Martin tie an IROC record 11 career wins, tying him with Al Unser, Jr. and Dale Earnhardt. Rookie Kurt Busch won in only his second start in race 2 after finishing second at Daytona. At Chicagoland, Mike Bliss became the first driver representing the Craftsman Truck Series to win a race in IROC competition. Jimmie Johnson won the final race of the year for

7622917

IROC XXVI

The 26th season of the True Value International Race of Champions began on Friday, February 15, 2002 at Daytona International Speedway. The roster included 12 drivers from five separate racing leagues. The first race saw Tony Stewart earn his second IROC win. Rookie Kevin Harvick won in only his second start in race 2 at California. In the first ever IROC race at Chicagoland, Buddy Lazier, Al Unser, Jr., and Hélio Castroneves gave the IRL a sweep of the top three positions in the race. In race 4 at Indianapolis, Dale Jarrett took the lead in turn one of the

7622918

IROC XXX

The 30th and final season of the Crown Royal International Race of Champions began on Friday, February 17, 2006 at Daytona International Speedway. The all-star roster included thirteen drivers (in twelve cars) from seven premier racing series. Tony Stewart consistently ran up front and won two races and finished ahead of the equally consistent Matt Kenseth by 12 points. As with the past two editions, the drivers used their car colors and numbers from their native series (when feasible). This was also the first IROC season since 1991 to include a road course race (held on the Daytona International Speedway

7622919

IROC at Indy

IROC at Indy was an auto race held at the Indianapolis Motor Speedway, from 1998 through 2003, as a support race to the Brickyard 400. It was part of the International Race of Champions series, and served as the season finale each of the six years it was run. In March 1992, IROC drivers Dave Marcis and Dick Trickle were invited to test at the Speedway. At the time, the Speedway was considering hosting an IROC event during the month of May, during activities leading up the Indianapolis 500. The test was considered successful, but several improvements would have to

7622920

IROC at Indy

be made to the track before it was safe for modern stock cars to race there. After consideration, it was determined that it would not be economically feasible to hold an IROC race at the time, and plans for that event were put on hold. Instead, the Speedway moved forward on plans to host a NASCAR race, the Brickyard 400, which would debut in 1994. After the Brickyard 400 was deemed to be a huge success, and since the sufficient track improvements had been made, the Speedway re-opened talks to bring an IROC to Indy. The event was held for

7622921

IROC at Indy

"the first time in 1998. As with all IROC races, there were no qualification sessions held. Grid positions were determined on a handicap basis, with starting positions opposite to the current points standings. All cars were identically prepared stock cars, based upon the Pontiac Trans Am. The cars were prepared and serviced by the series, rather than by a team which employed the driver. By winning the IROC event from 1998–2000, Mark Martin became the first driver to ""three-peat"" any single annual event at the Indianapolis Motor Speedway. Due to dwindling interest, the IROC race was removed from the IMS"

7622922

IROKO Partners

iROKO Partners is an online media distribution company focused on the Nigerian Entertainment Industry. The company was established in September 2010 and is headquartered in Lagos, with a branch in London, United Kingdom. The company is led by its co-founders Jason Njoku (CEO) and Bastian Gotter along with major investor Nazar Yasin. iROKO Partners offers a range of online media products including its movie streaming website named iROKOtv focused on Nollywood Film productions, and 'iROKING', a Nigerian music streaming platform. Other web brands are iROKtv, NollywoodLove and YorubaLove which operate on the YouTube video platform. iROKO Partners was founded in

7622923

IROKO Partners

2010 in London, England by Jason Njoku and Bastian Gotter. The Idea was born out of the high and rapidly growing demand for Nollywood films. iROKO partners initially set out to rid both the internet and the industry from the vast amount of piracy which was crippling the industry; once established, the organization birthed Nollywoodlove and Yorubalove, which obtained a dominant share of local YouTube views in 2011. Just four months into his business, Njoku had bought the online rights to 500 movies from 100 different one-man production houses. The company is globally the largest licensor and the leading distributor

7622924

IROKO Partners

of Nollywood movies (both English and Yoruba) online. Tiger Global, a hedge fund run by an early investor in Facebook and Zynga, has invested $8 million into the company. iROKO Partners is now the fastest-growing internet company in Nigeria and is currently YouTube’s biggest African partner with distribution deals with Dailymotion, iTunes, Amazon and Vimeo. IROKING is a free Nigerian music streaming service offering streaming of selected music from a range of African labels and artists. Its website platform was launched in December 2011 by iROKO Partners. Music can be browsed by direct searches, artist, album and playlists.The system is

7622925

IRONCAD

IRONCAD is a software product for 3D and 2D CAD (computer-aided-design) design focused mainly on the mechanical design market that runs on Microsoft Windows. It is developed by Atlanta, GA based IronCAD LLC. IRONCAD was originally developed by Visionary Design Systems (VDS) based in Santa Clara, CA. The product launched in 1998. In 2001 the development team led by Dr. Tao-Yan Han split from VDS (now known as Alventive) to form IronCAD LLC to continue the development of the IRONCAD product. IRONCAD primary focus is on 3D CAD design using solid modeling technology. IRONCAD uses both Parasolid and ACIS modeling

7622926

IRONCAD

kernels to provide computational methods for solving geometric calculations such as calculating blends and shells. Users create designs in 3D using a drag and drop design methodology by dragging and dropping shapes and components from 3D catalogs to build parts and assemblies. They then use those designs to communicate with other users in the design process using both 3D models and 2D drawings. The drawings remain associative to the 3D model so as the model is updated the drawings reflect the changes. IRONCAD also employs the use of direct face editing and allows the combination of features and direct face

7622927

IRP Try of the Year

The IRP Try of the Year is an accolade awarded annually by World Rugby at the World Rugby Awards. The International Rugby Players (IRP) – formerly International Rugby Players Association – select the nominees from which the winner is decided by a public vote. , the IRPA selection panel comprises Isaac Boss (representing Rugby Players Ireland), Andries Pretorius ( Welsh Rugby Players Association), Hale T-Pole (Pacific Players Association) and Stefan Terblanche (South African Rugby Players Association). The inaugural winner of the IRPA Try of the Year trophy in 2007 was the Zimbabwean-born United States wing Takudzwa Ngwenya. His try, considered

7622928

IRP Try of the Year

by the Bleacher Report as one of the greatest in history, completed a counter-attack for the United States against South Africa (also known as the Springboks) in the group stage of the 2007 Rugby World Cup. Receiving the ball on the halfway line, Ngwenya outpaced Bryan Habana, then considered to be the fastest player in international rugby, to score. Brian O'Driscoll received the award in 2008 for Ireland's team try scored during their 18–12 defeat against Australia. Starting from a lineout inside their own 22, Ireland caught their own kick as they moved up to the halfway line. An exchange

7622929

IRP Try of the Year

"of passes culminated with O'Driscoll receiving the ball out before scoring. The 2009 award went to South Africa's Jaque Fourie who scored the decisive try in a game described as ""one of the great matches of all time"" against the British and Irish Lions. Fourie's try in the 74th minute levelled the scores with Morné Steyn kicking a penalty with the final act of the match to take the win for South Africa. England's Chris Ashton won the IRPA Try of the Year award in 2010. Having already scored against Australia in the first half, Ashton ran to score his"

7622930

IRP Try of the Year

"second, completed with a ""swan dive"" as he crossed the tryline in what has been described as ""one of the great Twickenham scores"". The press dubbed the celebratory dive the ""Ash-Splash"". The 2011 award was presented to Australia's Radike Samo for his solo effort against New Zealand (also known as the All Blacks), described by ""The Sydney Morning Herald"" as ""one of the great forward tries"". Bryan Habana became the second South African to win the award for his try against the All Blacks in 2012. Running between two defending players and chipping the ball over a third, Habana slid"

7622931

IRP Try of the Year

in to score in the Springboks' 21–11 defeat in the 2012 Rugby Championship. The 2013 recipient of the award was New Zealand's Beauden Barrett who finished off an All Black move against France which had started just outside their own tryline. Francois Hougaard's try for South Africa against New Zealand earned him the 2014 IRPA Try of the Year award. He completed a move after eight passes which had started on the Springbok tryline, and helped consign the All Blacks to their first defeat in almost two years. All Black Julian Savea won the award in 2015 with one of

7622932

IRP Try of the Year

"three tries he scored in New Zealand's comprehensive 62–13 defeat over France in the 2015 Rugby World Cup. Robert Kitson of ""The Observer"" described the award-winning try as a ""stunner that took him past and through [Louis] Picamoles, Brice Dulin and Rabah Slimani in a manner reminiscent of Lomu's flattening of Mike Catt in Cape Town in 1995"". The winner of the 2016 award was Ireland's Jamie Heaslip who finished off a team move which started inside their own 22 against Italy during the 2016 Six Nations Championship. The 2017 IRPA Try of the Year was awarded to Argentina's Joaquín"

7622933

IRQL (Windows)

An Interrupt Request Level (IRQL) is a hardware independent means with which Windows prioritizes interrupts that come from the system's processors. On processor architectures which Windows runs on, hardware generates signals which are sent to an interrupt controller. The interrupt controller sends an interrupt request (or IRQ) to the CPU with a certain priority level, and the CPU sets a mask which causes any other interrupts with a lower priority to be put into a pending state, until the CPU releases control back to the interrupt controller. If a signal comes in at a higher priority, then the current interrupt

7622934

IRQL (Windows)

will be put into a pending state, the CPU sets the interrupt mask to the priority and places any interrupts with a lower priority into a pending state until the CPU finishes handling the new, higher priority interrupt. Windows maps not only hardware interrupt levels to its internal interrupt table, but also maps software interrupts. The mappings in this table are called Interrupt Request Levels, or IRQLs, and a separate IRQL is kept for each processor in a multiprocessor system. The IRQL values are specific to the x86, IA64 and AMD64 processor architectures that Windows can run on, though theoretically

7622935

IRS Criminal Investigation Division

Internal Revenue Service, Criminal Investigation (IRS-CI) investigates potential criminal violations of the U.S. Internal Revenue Code and related financial crimes in a manner intended to foster confidence in the tax system and deter violations of tax law. While other federal agencies also have investigative jurisdiction for money laundering and some bank secrecy act violations, the Internal Revenue Service (IRS) is the only federal agency that can investigate potential criminal violations of the Internal Revenue Code. Chief Don Fort oversees a worldwide staff of approximately 3,124 CI employees as of June 13, 2017, including approximately 2,217 special agents who investigate and

7622936

IRS Criminal Investigation Division

assist in the prosecution of criminal tax, money laundering, and Bank Secrecy Act related crime cases. According to the 2016 Annual Report, Criminal Investigation initiated 3,395 investigations in fiscal year 2016. In addition, the IRS-CI conviction rate (which is the percentage of convictions compared to the total number of convictions, acquittals, and dismissals) was 91.7% in fiscal year 2018. On July 1, 1919, the Commissioner of Internal Revenue Daniel C. Roper created the Intelligence Unit to investigate widespread allegations of tax fraud. To establish the Intelligence Unit, six United States Post Office Inspectors were transferred to the Bureau of Internal

7622937

IRS Criminal Investigation Division

Revenue to become the first special agents in charge of the organization that would one day become Criminal Investigation. Among the first six Elmer L. Irey was designated the Chief, and William H. Woolf the Assistant Chief. They formed the nucleus that became the Intelligence Unit. The Intelligence Unit quickly became renowned for the financial investigative skill of its special agents. It attained national prominence in the 1930s for the conviction of public enemy number one, Al Capone, for income tax evasion, and its role in solving the Lindbergh kidnapping. From these promising beginnings the Intelligence Unit expanded over the

7622938

IRS Criminal Investigation Division

intervening decades, investigating tax evasion by ordinary citizens, prominent businesspersons, government officials, and notorious criminals. In July 1978, the Intelligence Unit changed its name to Criminal Investigation (CI). Over the years CI's statutory jurisdiction expanded to include money laundering and currency violations in addition to its traditional role in investigating tax violations. However, Criminal Investigation's core mission remains unchanged. It continues to fulfill the important role of helping to ensure the integrity and fairness of the United States tax system. According to information on the IRS web site, the conviction rate for Federal tax prosecutions from 1919 to the present

7622939

IRS Criminal Investigation Division

"has never fallen below 90 percent. The IRS asserts that this is a record that is unmatched in Federal law enforcement. Over the years, IRS-CI has continued to maintain a reputation for high levels of expertise in financial investigation and has been involved in a number of high-profile cases in recent years. ""2015 FIFA corruption case:"" In May 2015, fourteen current and former leaders of soccer's international governing body, FIFA, were indicted on charges of widespread corruption, ultimately leading to the arrest of seven top executives. FIFA leaders were accused of accepting bribes from country representatives in exchange for support"

7622940

IRS Criminal Investigation Division

in their countries' bids to host the World Cup. The 47-count indictment charged defendants with racketeering, wire fraud, and money laundering conspiracies. IRS-CI played an integral role in exposing the scandal, as IRS-CI opened the initial criminal investigation into former CONCACAF General Secretary Chuck Blazer in 2011 for not filing personal income tax returns. IRS-CI put together a tax case against Blazer that was ultimately used to convince Blazer to supply information to, and cooperate with, the government to build a case against other FIFA officials. In cooperation with the FBI's own investigations into FIFA corruption, multiple police agencies, and

7622941

IRS Criminal Investigation Division

"diplomats in 33 countries, IRS-CI helped to crack what has been described as ""one of the most complicated international white-collar cases in recent memory."" ""Dennis Hastert Scandal: "" IRS-CI was instrumental in the 2015 indictment of Dennis Hastert, the longest-serving Republican Speaker of the House, on charges of violating banking laws. Hastert served in Congress between 1987 and 2007, and became a high-paid lobbyist after his retirement from Congress. Before his career as a politician, Hastert worked as a High School teacher and wrestling coach at Yorkville High School in Illinois for 16 years. Hastert violated banking laws by structuring"

7622942

IRS Criminal Investigation Division

"cash withdrawals to avoid reporting requirements. Specifically, he made cash withdrawals of less than $10,000 to hide his efforts to pay $3.5 million to an unnamed person to compensate for and conceal prior ""misconduct."" At the time of the indictment, Hastert had paid the person $1.7 million. ""Credit Suisse Guilty Plea:"" In May 2014, Swiss financial giant Credit Suisse pleaded guilty to conspiring to help U.S. taxpayers file false and misleading income tax returns with the IRS. Eight Credit Suisse executives were also charged with defrauding the United States. The agreement forced Credit Suisse to pay a total of $2.6"

7622943

IRS Criminal Investigation Division

billion as a penalty for its tax code violations. Credit Suisse admitted that for several decades before 2009, it had operated an illegal cross-border banking business that helped U.S. clients conceal offshore assets from the IRS to avoid paying taxes. IRS-CI special agents were directly involved in unmasking these tax violations. A Senate investigative report revealed that Credit Suisse had held more than 22,000 accounts for U.S. clients with assets between $10 billion and $12 billion—95% of these accounts were not reported for tax purposes. The Criminal Investigation strategic plan is composed of four interdependent programs: Legal Source Tax Crimes;

7622944

IRS Criminal Investigation Division

Illegal Source Financial Crimes; Narcotics Related Financial Crimes; and Counterterrorism Financing. These four programs are mutually supportive, and encourage utilization of all statutes within CI's jurisdiction, the grand jury process, and enforcement techniques to combat tax, money laundering and currency crime violations. Criminal Investigation must investigate and assist in the prosecution of those significant financial investigations that will generate the maximum deterrent effect, enhance voluntary compliance, and promote public confidence in the tax system. Investigating Legal Source Tax Crimes is IRS-CI's primary resource commitment. Legal Source Tax investigations involve taxpayers in legal industries and occupations who earned income legally but

7622945

IRS Criminal Investigation Division

"chose to evade taxes by violating tax laws. The Illegal Source Financial Crimes Program attempts to detect all tax and tax-related violations, as well as money laundering and currency violations. This program recognizes that money gained through illegal sources is part of the ""untaxed underground economy"" that threatens the voluntary tax compliance system and undermines public confidence in the tax system. The Narcotics-Related Financial Crimes Program was established in 1919, and is one of IRS-CI's oldest initiatives. Its goal is to utilize the financial investigative expertise of its special agents to disrupt and dismantle major drug and money laundering organizations."

7622946

IRS Criminal Investigation Division

"IRS-CI's role in supporting narcotics related investigations was highlighted in the 1996 book, ""The Phoenix Solution: Getting Serious About Winning the Drug War"", by Vincent T. Bugliosi. Following the terrorist attacks of September 11, 2001, IRS Criminal Investigation actively participates in federal counterterrorism investigations. In addition to standard investigative support, IRS Special Agents add financial investigative and computer forensic expertise to terrorism investigations. IRS CI's support on investigations related to counterterrorism was highlighted in the 2013 book ""Treasury's War: The Unleashing of a New Era of Financial Warfare,"" by Juan Zarate. Criminal Investigation also actively participates in high-level espionage investigations,"

7622947

IRS Criminal Investigation Division

for many of the same reasons Special Agents originally worked on liquor bootlegger, organized crime, and public corruption investigations. In many high-level, complex investigations criminal actors are well insulated from culpability apportioned through traditional techniques of evidence development. The common weakness of many high level criminal activities remains money or the financial benefit, which is difficult to conceal. Trainee Special Agents receive advanced training in general criminal investigation technique common to all Federal criminal investigators. Special Agents use judicially accepted methods of investigation depending on the allegation, which may be tax or non-tax. Special Agents receive advanced training in Federal

7622948

IRS Criminal Investigation Division

"tax law and approved techniques developed within the Criminal Investigation Division and IRS over decades of investigative activity. Part 9, Chapter 5 of the ""Internal Revenue Manual"" describes material taught to IRS-CI Agents during their six-month basic training at the Federal Law Enforcement Training Centers (FLETC) in Glynco, Georgia. For tax charges, Special Agents in training focus on three primary ""methods of proof"" to produce evidence leading to a conviction in Federal court: specific items, net worth, and expenditures. These methods relate primarily to evidence gathering based on how an individual has acquired wealth. Each method seeks to compare a"

7622949

IRS Criminal Investigation Division

"suspect's standard of living and sources of income to that income reported for tax purposes. Using the Direct-Specific Item Method, the government seeks to substantiate specific items that were not completely or accurately reported for tax purposes. The government must also show that the items of omission were made willfully to understate the subject's tax liability. There are three broad categories of schemes suited to the Specific Item Method of proof: In the case of ""Holland v. United States"", the U.S. Supreme Court determined the Net Worth Method to be an acceptable method of proof in establishing unreported taxable income"

7622950

IRS Criminal Investigation Division

"in a criminal tax investigation. The formula for calculating the subject's correct taxable income can be broken down into four steps: The Expenditures Method of Proof is a variation of the Net Worth Method of Proof. The Expenditures Method derives in part from ""United States v. Johnson"", ""United States v. Caserta"" and ""Taglianetti v. United States"", wherein the respective courts accepted the method to determine unreported income. The Expenditures Method starts with an appraisal of the subject's net worth situation at the beginning of a period. If the expenditures have exceeded the amount reported as income and if the net"

7622951

IRS Criminal Investigation Division

worth at the end of the period is the same as it was at the beginning (or any difference accounted for), then it may be concluded that income has been underreported. It may be necessary to consider nontaxable receipts during the period in question. Like all other Federal criminal investigators, Special Agents rely on objective, admissible evidence to develop allegations into successful prosecutions brought through the U.S. Department of Justice and the United States Attorney. Allegations of criminal acts actionable within the jurisdiction of the Criminal Investigation Division are received from a myriad of sources, including informants and undercover investigations.

7622952

IRS Criminal Investigation Division

Other valuable sources of information include IRS records, general public records, trash (legally acquired from outside of the home's curtilage), business records, reports and records from banks and other government entities, telephone records, court records, criminal histories, and intelligence records. Special Agents also use arrest and search warrants to gather information. Special Agents evaluate allegations of possible criminal acts received from the civil tax sections of the IRS as well as traditional law enforcement sources and direct participation and leadership in Federal task forces and multi-agency investigations. There is no one method by which Special Agents receive information or make

7622953

IRS Criminal Investigation Division

recommendations of prosecution to the Department of Justice or the U.S. Attorney. The criminal referral process in connection with U.S. Federal tax-related offenses generally consists of two stages. An initial stage referral may be made by the Examination or Collection personnel of the Internal Revenue Service to the IRS Criminal Investigation function, using Form 2797. After the Criminal Investigation Division investigates, evaluates the result of the investigation, and concludes that a recommendation for prosecution should be made, the second stage is a referral made by the Criminal Investigation Division to the U.S. Department of Justice under Internal Revenue Code section

7622954

IRS Criminal Investigation Division

6103(h)(3)(A) and Treasury Order 150-35. At any time before the second stage referral, the Department of the Treasury has the legal authority to reach a compromise settlement of a criminal case arising under the U.S. internal revenue laws; after the second stage referral is made, however, only the Department of Justice may compromise the case. IRS-CI's highest priority is to enforce U.S. tax laws and support the tax administration. IRS-CI identified 10 investigation priorities for fiscal year 2014: IRS-CI has also focused on addressing cyber-crime in recent years. For example, Special Agents played an instrumental role in the 2013 prosecution

7622955

IRS Criminal Investigation Division

of Silk Road founder Ross William Ulbricht on charges of money laundering, computer hacking and conspiracy to traffic narcotics. In 2014, IRS-CI created a Cyber Crimes Unit to address the increase in tax crimes that contain cyber components—especially those related to internet fraud, identity theft, and related crimes. Series 1811 Special Agents of the IRS-CI are the only employees within the IRS authorized to carry and use firearms. The authority to carry and use firearms is derived from United States Code Title 26, Section 7608, wherein criminal investigators of the IRS are authorized to make arrests under Federal law. Special

7622956

IRS Criminal Investigation Division

Agents are trained in the use of and currently issued Glock handguns, specifically Glock 22, 23, and 27 self-loading pistols. Remington 870 shotguns and Smith and Wesson MP15 rifles are also officially issued and deployed. Special Agents assigned to undercover activities may carry and use virtually any common firearm. IRS-CI Special Agents are trained to execute arrest and search warrants and conduct authorized undercover operations, including technical surveillance. Consistent with the safe conduct of such operations, Special Agents are trained in building-entry and non-lethal defensive tactics training, in harmony with current Federal law enforcement use-of-force training. Special Agents also serve

7622957

IRS Return Preparer Initiative

The IRS Return Preparer Initiative was an effort by the Internal Revenue Service (IRS) to regulate the tax return preparation industry in the United States. The purpose of the initiative is to improve taxpayer compliance and service by setting professional standards for and providing support to the tax preparation industry. Starting January 1, 2011 and, until the program was suspended in January 2013, the initiative required all paid federal tax return preparers to register with the IRS and to obtain an identification number, called a Preparer Tax Identification Number (PTIN). The multi-year phase-in effort called for certain paid tax return

7622958

IRS Return Preparer Initiative

"preparers to pass a competency test and to take annual continuing education courses. The ethics provisions found in Treasury Department's Circular 230 were extended to all paid tax return preparers. Preparers who have their PTINs, pass the test and complete education credits were to have a new designation: Registered Tax Return Preparer. ""I believe it is one of the most important initiatives and defining actions that the IRS has taken in recent years in improving both compliance and our ability to deliver better service to taxpayers; in this case, helping them to file accurate returns from the get-go and avoid"

7622959

IRS Return Preparer Initiative

"potentially time-consuming problems later on,"" said IRS Commissioner Douglas Shulman. In January 2013, however, the Internal Revenue Service announced that it was suspending the program because of a ruling on January 18, 2013, by the United States District Court for the District of Columbia. As a result of a lawsuit, the Court issued an order prohibiting the Internal Revenue Service from enforcing the regulatory requirements for registered tax return preparers. In accordance with this order, tax return preparers covered by this program are not currently required to register with the IRS. The IRS announced that because of the Court's ruling,"

7622960

IRS Return Preparer Initiative

tax return preparers are not required to complete the competency testing or to secure the continuing education that had been required. The IRS failed in its effort to obtain a stay of the ruling, which was then affirmed (upheld) in February 2014 by the U.S. Court of Appeals for the District of Columbia Circuit. Prior to the IRS Return Preparer Initiative, anyone could enter the tax return business. The lack of training or minimum qualifications for paid federal tax return preparers resulted in concerns that some ill-equipped tax preparers were making numerous errors costly to taxpayers and to the United

7622961

IRS Return Preparer Initiative

States Treasury. Income tax laws in the United States are complex and change nearly every year. United States Taxpayer Advocate Nina E. Olson, in her 2002 annual report to Congress, suggested legislation to register and regulate paid tax preparers. In 2006, the GAO testified that the agency secretly visited 19 different paid tax preparers. The agency found that all 19 tax returns were wrong to some degree and that only two preparers correctly calculated the proper refund amount. In 2008, the Government Accountability Office (GAO) followed up with a review of how Oregon and California, the only states to regulate

7622962

IRS Return Preparer Initiative

tax preparers, addressed the issue. On June 4, 2009, Commissioner Douglas Shulman announced that the IRS would conduct a thorough review of the issues related to regulating paid tax return preparers. On January 4, 2010, IRS Commissioner Shulman announced the results of a six-month study that included public hearings with consumer advocates, other government agencies and tax professionals. The Return Preparer Review Final Report (IRS Publication 4832) outlined the increasing importance of the tax preparation industry as tax law becomes more complex and taxpayers seek help in preparing accurate tax returns. As of 2008, eighty percent of taxpayers were seeking

7622963

IRS Return Preparer Initiative

"third party assistance, either from tax preparers or tax software, to prepare and file their federal tax returns. The report found that the number of paid tax return preparers was difficult to determine, ranging anywhere from 900,000 to 1.2 million people. ""There is general agreement that tax return preparers and the associated industry play a pivotal role in our system of tax administration and they must be a part of any strategy to strengthen the integrity of the tax system. And, more directly, the American public overwhelmingly supports efforts to increase the oversight of paid tax return preparers,"" the report"

7622964

IRS Return Preparer Initiative

concluded. The report recommended a new Return Preparer Initiative related to registration, testing, continuing education and ethics. The publication contains a comprehensive overview of the 2009 IRS study and outlines eight categories of recommendations. However, some recommendations are being implemented differently than originally proposed. Official IRS regulations, not the Return Preparer Review, provide the final guidance for implementing the recommendations. The first significant step was the registration of all paid tax preparers. Starting January 1, 2011, anyone who for compensation prepares or helps prepare all or substantially all of any federal tax return or claim for refund was required to

7622965

IRS Return Preparer Initiative

register with the IRS. He or she was required to obtain and use a Preparer Tax Identification Number (PTIN) on returns he or she prepared and signed. Previously, use of the PTIN on tax returns was optional. On September 28, 2010, the IRS launched a new PTIN sign-up system that required preparers to create online accounts, complete the PTIN application, pay a $64.25 fee and obtain a PTIN. There also was a new PTIN paper application, Form W-12. The online PTIN account also could be used to schedule a date and time for the competency test and, eventually, to track

7622966

IRS Return Preparer Initiative

continuing education credit hours. Preparers were required to renew their PTINs annually. The PTIN was valid for a calendar year, expiring each December 31. The renewal period begins in mid-October each year. The renewal fee is $63. Through the registration process, the IRS also planned to create a searchable data-base that would allow taxpayers to determine whether the preparer is compliant with IRS requirements or to find a compliant preparer within the taxpayer's zip code area. Until the registration process, the IRS did not have reliable data on the number of tax preparers nationwide. In the first year, more than

7622967

IRS Return Preparer Initiative

840,000 preparers registered for a PTIN. For 2012, there were 715,000 preparers with valid PTINs. Starting November 2011, the IRS launched a new competency test that, until the program was suspended in 2013, certain preparers were required to take and pass. Preparers who are Certified Public Accountants (CPAs), attorneys and Enrolled Agents were exempt from this test because they have other exam requirements. Also exempt were supervised preparers - those who do not sign returns, who work for a firm owned by and are supervised by a CPA, attorney or enrolled agent - and preparers who prepare no individual tax

7622968

IRS Return Preparer Initiative

returns. This left approximately 340,000 preparers who were required to pass the test and to become Registered Tax Return Preparers. The test was a timed, two and a half hour test that was required to be taken at one of the 260 testing centers operated by test vendor Prometric, Inc. The exam covered the Form 1040 series and its schedules. There were 120 questions. Most were multiple choice. Questions on ethics were in true or false format. The test fee was $116. Preparers were to be notified immediately if they passed the test but were not informed of their test

7622969

IRS Return Preparer Initiative

scores. The IRS and Prometric created a Candidate Information Bulletin, a test tutorial, a video about what to expect on test day, and a list of testing center locations, as well as a list of study materials. These study materials were to change each April. Test takers were to have access to some electronic materials, such as Publication 17, while taking the test. The IRS was not to provide test preparation courses. However, for 2012 and 2013, test preparation courses taken from an approved IRS vendor were to count toward continuing education course requirements. The IRS also issued Fact Sheet

7622970

IRS Return Preparer Initiative

2011-12 to explain the test. Until the program was suspended, preparers with a testing requirement were also to have a requirement to complete 15 hours of continuing education credits each year. The credits were to include 10 hours of general federal tax law topics, 3 hours of federal tax law updates and 2 hours of ethics. CPAs, attorneys and enrolled agents, who are in good standing with their professional organization, were exempt from this provision because of their pre-existing education professional requirements. Supervised preparers and non-1040 preparers were also exempt. Preparers were required to take courses from only those providers

7622971

IRS Return Preparer Initiative

approved by the IRS. Preparers were required to review the offerings to determine what courses suit their situations. Providers were to issue certificates of completion to preparers and to report completions to the IRS based on the preparers' PTINs. Preparers were required to retain details about their course work in their records for at least four years. Eventually, preparers were to be able to use their online PTIN accounts to keep track of their credit hours. Prior to the Return Preparer Initiative, standard ethical guidelines did not apply to some federal return preparers. The initiative extended the ethical provisions set

7622972

IRS Return Preparer Initiative

out by Treasury's Circular 230 to all paid federal tax return preparers. Preparers who passed the Registered Tax Return Preparer test and who passed an IRS-run tax compliance check were to be given a new title: Registered Tax Return Preparer. After 2013, only Registered Tax Return Preparers, Enrolled Agents, Certified Public Accountants or attorneys were to be able to legally prepare federal tax returns for individuals for compensation. In November 2009, Congress adopted a provision that required federal tax return preparers to use IRS e-file to submit returns. Beginning in 2012, if a preparer expected to prepare and file eleven

7622973

IRS Return Preparer Initiative

or more individual tax returns, he or she was expected to electronically file the returns. In order to e-file, a preparer must become an Authorized IRS e-file Provider. Preparers were to be able to use IRS e-services to submit an application. In October 2010 speech, IRS Commissioner Shulman announced the creation of a Return Preparer Office. The Return Preparer Office was to be responsible for implementing the new requirements and for oversight of the IRS return preparer program. The Office was to work in partnership with the Office of Professional Responsibility, which is responsible for the enforcement of Circular 230

7622974

IRS Volunteer Income Tax Assistance Program

The Volunteer Income Tax Assistance (VITA) program is an initiative sponsored by the Internal Revenue Service. Founded in 1971 by Gary Iskowitz at California State University, Northridge. Since the 1970s the program has blossomed to several thousand sites nationwide partnering with non-profit organizations, city governments, and major public universities to file millions of returns every year. In Tax Year 2015 3.7 million returns were filed with a 94% accuracy rate according to Frank Nolden, Director of Stakeholder Partnerships, Education, and Communication/SPEC. The program is intended to service low to moderate-income tax payers, which the IRS has defined for the scope

7622975

IRS Volunteer Income Tax Assistance Program

of the program as those individuals and families making less than $54,000 per year. Returns are prepared by IRS tax law certified volunteers. Certificates in the program start at Basic, followed by Advanced, Health Savings Account/HSA, Military, International, Foreign Student, and Puerto Rico although may vary from partner to partner. Some military bases such as Like Air Force Base participate in the program in which IRS agents train service members to do military taxes. Due to the complexity of foreign students' returns, they are prepared at major public universities such as Arizona State University by more advanced experts. Volunteers learn

7622976

IRS Volunteer Income Tax Assistance Program

tax software and tax law issues November to January of each year. One of the focal points of the VITA program is raising taxpayer awareness and receipt of the Earned Income Credit (EIC). The average refund for taxpayers claiming the Earned Income Credit was $2,450 as of 2015. As previously mentioned, all returns are required by the IRS to be prepared by certified volunteers. There are various tax law, and non-tax law related certifications. Each volunteer, whether they will be preparing tax returns or acting as a greeter, or intake specialist, is required to pass an ethics and code of

7622977

IRS Volunteer Income Tax Assistance Program

"conduct exam. Beyond that, those volunteers who wish to become tax preparers must further pass an exam relating to the intake and interview process and a basic tax law exam. There are a total of seven tax law certification exams. To be considered proficient, volunteer must score a minimum of 80 on an exam to receive a passing score. Certifications last for one tax year, then the preparer must renew their certification. The different tax law certification levels are: There are also a number of tax topics that are ""out-of-scope"" for the program regardless of a tax preparer's certification. Even"

7622978

IRS class

"""IRS"" class of tugboats are a series of Bollard pull tugboats built by Hindustan Shipyard Limited, Visakhapatnam, for the Indian Navy. INS ""Sahas"" and INS ""Dhiraj"" tugs were flagged off by Commander (retd) K.S. Subramanian, the Director (shipbuilding) and INS ""Himmat"" was flagged off by Rear Admiral (Retd) N K Mishra, NM Chairman & Managing Director of HSL. The vessels were built under special survey of IRS Steel ship rules and as such were assigned with IRS class notation. Each of these tugboats can achieve 13.5 knots against a design speed of 12 knots at 85% maximum continuous rating. Bollard"

7622979

IRS e-file

E-file is a system for submitting tax documents to the US Internal Revenue Service through the Internet or direct connection, usually without the need to submit any paper documents. Tax preparation software with e-filing capabilities includes stand-alone programs or websites. Tax professionals use tax preparation software from major software vendors for commercial use. Of the 139.3 million US returns filed in 2007, 79.98 million (or about 57.4 percent) were filed electronically. In 2010, a total of 129.3 million US returns were filed, and 93.4 million were filed electronically: in three years the percentage of returns filed electronically increased to 72.3

7622980

IRS e-file

percent of total returns. In 2018, 89% of tax returns were filed electronically. Taxpayers can e-file free using the IRS Free File service, either using an authorized IRS e-file provider's tax software, if eligible, or by using online fillable forms. The IRS started electronic filing in 1986 to lower operating costs and paper usage. Since then, additional features have been added. In 1987 Electronic Direct Deposit was added as a form of payment. Milestones have been set and broken throughout the years. In 1990 4.2 million returns were reached and in recent years a record of 1 billion 1040's have

7622981

IRS e-file

been E-filed. E-filing originally used the processing system developed in 1969 by the IRS but, since 2003, the IRS has been developing a new enhanced processing system called CADE. The IRS accepts electronic submission of a variety of tax forms through their IRS Authorized e-file Providers. The IRS offers e-filing to most forms ranging from 1040's to 2290's to 990's. Individuals have the option of both free and paid tax software. Recently a feature from the IRS called FreeFile allows users to file their individual tax returns for free. It is also possible to go through an authorized efile company

7622982

IRS e-file

that files Form 1040 with a service charge. FreeFile is free, it's an easy step by step system for those who make less than $64,000 annually and a more task-heavy form of filing for those who make above $64,000. For those who make more than $64,000 a year, the FreeFile is not step-by-step but an actual Form 1040 that can be filled out, box by box, electronically. Businesses and self-employed taxpayers can choose from a variety of commercial e-file services depending on their individual needs. Some of the forms that fall under business returns include Form 2290 (truck tax), Form

7622983

IRS e-file

1099 (reporting payments to individuals other than employees). IRS has no set pricing for each form, so each filing company sets their own price accordingly. IRS has a list of authorized websites that do e-filing for some forms. Tax exempt organizations may file the annual information return IRS Form 990, Form 990-EZ and Form 990-N with a variety of independent tax software providers. As with the business returns, the IRS does not set prices; each e-filing company sets their own. IRS e-filer providers must be authorized by the IRS. The IRS provides a list of authorized e-file providers on some

7622984

IRS impersonation scam

IRS impersonation scams involve scammers targeting American taxpayers by pretending to be Internal Revenue Service (IRS) collection officers. The scammers operate by placing disturbing official-sounding calls to unsuspecting citizens, threatening them with arrest and frozen assets if thousands of dollars are not paid immediately. According to the IRS, over 1,029,601 Americans have received threatening calls, and $29,100,604 has been reported lost to these call scams as of March, 2016. The problem has been assigned to the Treasury Inspector General for Tax Administration. The scammers often request payment in the form of gift cards such as Google Play or iTunes cards,

7622985

IRS impersonation scam

wire transfer, MoneyGram, or credit card. , several people from India have been arrested for impersonating IRS employees. In a first ever large scale prosecution targeting 'India call center scams industry', 21 people were sentenced up to 20 Year Jail time for running IRS Scam and targeting US Citizens. More than 15,000 U.S. residents got scammed out of hundreds of millions of dollars and more than 50,000 U.S. citizens IDs have been misused. In this elaborate scam, around $300 million have been defrauded from U.S. Citizens. US Justice department also indicted around 32 individuals in India for wire fraud and

7622986

IRS impersonation scam

money laundering. In one case, a 85 years old victim from San Diego, California have been duped with $12,300. Another man from California paid $136,000. Variations on this scam have targeted British taxpayers, pretending to be from HM Revenue and Customs (HMRC). Sometimes the scammers use telephone calls, sometimes SMS text messages, and sometimes emails. Versions include: Another variation similarly targets Canadians by impersonating the Canada Revenue Agency and utilizing aggressive fear tactics, with at least 60,000 Canadian residents filing complaints from 2013-2018. In response to a modus operandi by scammers where they coax victims into buying prepaid cards or

7622987

IRS penalties

Taxpayers in the United States may face various penalties for failures related to Federal, state, and local tax matters. The Internal Revenue Service (IRS) is primarily responsible for charging these penalties at the Federal level. The IRS can assert only those penalties specified imposed under Federal tax law. State and local rules vary widely, are administered by state and local authorities, and are not discussed herein. Penalties may be monetary or may involve forfeiture of property. Criminal penalties may include jail time, but are imposed only by a federal judge after a defendant is convicted. Most monetary penalties are based

7622988

IRS penalties

on the amount of tax not properly paid. Penalties may increase with the period of nonpayment. Some penalties are fixed dollar amounts or fixed percentages of some measure required to be reported. Excise taxes used as penalties are imposed in the Code sections relating to particular kinds of transactions. Some penalties may be waived or abated where the taxpayer shows reasonable cause for the failure. Penalties apply for failures to file income tax returns or information returns, or for filing incorrect returns. Some penalties may be very minor. Penalties apply for certain types of errors on tax returns, and may

7622989

IRS penalties

be substantial. Some penalties are imposed as excise taxes on particular transactions. Certain other penalties apply for other types of failures. Certain acts may result in forfeiture of property of the taxpayer. There are over 150 kinds of civil penalties in the U.S. Internal Revenue Code, ranging in severity which is reflected in the amount of the applicable fines. Taxpayers are required to have withholding of tax or make quarterly estimated tax payments before the end of the tax year. Because accurate estimation requires accurate prediction of the future, taxpayers sometimes underestimate the amount due. The penalty for paying too

7622990

IRS penalties

little estimated tax or having too little tax withheld is computed with interest on the amount that should have been, but was not, paid. Where a taxpayer has filed an income or excise tax return that shows a balance due but does not pay that balance by the due date of the return (without extensions), a different charge applies. This charge has two components: an interest charge, computed as described above, and second a penalty of 0.5% per month applied to the unpaid balance of tax and interest. The 0.5% penalty is capped at 25% of the total unpaid tax.

7622991

IRS penalties

The underestimate penalty and interest on late payment are automatically assessed. Penalty for Failure to Timely File Return: If a taxpayer is required to file an income or excise tax return and fails to timely do so, a late filing penalty may be assessed. The penalty is 5% of the amount of unpaid tax per month (or partial month) the return is late, up to a maximum of 25%. A minimum penalty of $205 may apply for returns over 60 days late. The minimum penalty is the lesser of $205 or 100% of the tax due on the return. Penalty

7622992

IRS penalties

for Failure to Timely Pay Tax: If a taxpayer fails to pay the balance due shown on the tax return by the due date (even if the reason of nonpayment is a bounced check), there is a penalty of 0.5% of the amount of unpaid tax per month (or partial month), up to a maximum of 25%. Penalty for Failure to Timely Pay After Issuance of Notice: If a taxpayer fails to pay any additional tax assessed by the IRS (usually as a result of an audit) the taxpayer may be liable for a penalty equal to 0.5% for each

7622993

IRS penalties

month (or partial month) during which the failure continues, if the amount is not paid within 21 calendar days after the date of an IRS notice demanding the payment. If both the failure to file and the failure to pay penalties apply during the same month, then the failure to file penalty is reduced by 0.5% each month. The 25% cap above applies to the 5% late filing penalty and the 0.5% late payment penalty together. The late filing penalty may be waived or abated on showing of reasonable cause for failure. The failure to file penalty is imposed and

7622994

IRS penalties

"starts to accrue interest from the due date of the return. The failure to pay penalty is imposed when a taxpayer pays the taxes after payment was due, computed from the date prescribed for paying the tax. The Internal Revenue Service advises that if the taxpayer wants to compute the penalty for failure to timely file and the penalty for failure to timely pay the tax shown on the return, or the interest, and to pay those items at the time the return is filed, the taxpayer can ""identify and enter the amount in the bottom margin"" on the second"

7622995

IRS penalties

"page of Form 1040. The IRS advises that the taxpayer ""not include interest or penalties (other than the estimated tax penalty)"" in the ""Amount Owed"" line of the form. If amounts reported on an income tax return are later adjusted by the IRS and a tax increase results, an additional penalty may apply. This penalty of 20% or 40% of the increase in tax is due in the case of substantial understatement of tax, substantial valuation misstatements, transfer pricing adjustments, or negligence or disregard of rules or regulations. For example, a valuation overstatement can result in a 30% penalty on"

7622996

IRS penalties

"the amount of tax owed. Special rules apply for each of these types of errors under which the penalty may be waived. Certain types of returns, called ""information returns,"" do not require payment of tax. These include forms filed by employers to report wages (Form W-2) and businesses to report certain payments (Form 1099 series instructions). The penalty for failures related to these forms is a dollar amount per form not timely filed, and the amount of penalty increases with the degree of lateness. The current maximum penalty for these forms is $50. Many of the forms must be filed"

7622997

IRS penalties

electronically, and filing on paper is considered non-filing. Late filing of returns of partnership income (Form 1065) can result in penalties of $195 per month per partner, up to a maximum of 12 months. Similar penalties may apply to an income tax return (Form 1120S) for an S corporation. Employers are required to withhold income and social security taxes from wages paid to employees, and to pay these amounts promptly to the government. A penalty of 100% of the amount not paid over (plus liability for paying the withheld amounts) may be collected without judicial proceedings from each and every

7622998

IRS penalties

person who had custody and control of the funds and did not make the payment to the government. This applies to company employees and officers as individuals, as well as to companies themselves. There have been reported cases of the IRS seizing houses of those failing to pay over employee taxes. Taxpayers who are shareholders of controlled foreign corporations must file Form 5471 with respect to each such controlled foreign corporation. Penalties for failure to timely file are $10,000 to $50,000 per form, plus possible loss of foreign tax credits. U.S. corporations more than 25% owned, directly or indirectly, by

7622999

IRS penalties

foreign persons must file Form 5472 to report such ownership and all transactions with related parties. Failure to timely file carries a $10,000 penalty per required form. This penalty may be increased by $10,000 per month per form for continued failure to file. In addition, taxpayers who fail to report changes in foreign taxes used as credits against Federal income tax may be subject to penalties. U.S. citizen or resident taxpayers (including entities) who are beneficiaries of a foreign trust or make transfers of property to a foreign trust must report information about the transfer and the trust or corporation.