The Commissioner of the Internal Revenue Service (IRS), as of June 2014, is John Koskinen. The commissioner presides over the IRS. There is no position or title of significance at the IRS of "director."
As Commissioner, Mr. Koskinen is responsible for a system that collects an approximate 2.4 trillion dollars annually. This collection funds most federal government operations and services.The agency employs some 90,000 employees and has a budget of an estimated 11 billion dollars.
Koskinen has a long executive history, including a tenure at Freddie Mac (the Federal Home Loan Mortgage Corporation), which included a 2009 appointment as acting executive director.Learn More
As of 2014, the IRS can audit tax returns that have been filed within the past three years. However, if a substantial error is found, the agency can include additional years. In this case, an audit usually does not cover returns that date back further than the past six years.Full Answer >
The IRS does not necessarily know the martial status of taxpayers; the IRS goes by whatever statuses the taxpayers choose on their returns, notes Marketwatch. As a general rule, it is beneficial for most couples to file a joint return, although there is also an option for married filing separately.Full Answer >
The Internal Revenue Service (IRS) requires businesses and nonprofit organizations to issue 1099 forms to individuals or unincorporated businesses that receive more than $600 for rents and services rendered, as of 2015. Most entities require a completed W-9 form prior to making payment, which ensures that they have the recipient’s contact information.Full Answer >
Medicare deductions are funds withheld from employee paychecks to pay into the federal Medicare system, as reported by the Internal Revenue Service (IRS). The Medicare system relies on these funds and paying into the system is required of all employees and self-employed individuals.Full Answer >