News / IRS

On Earned Income Tax Credit Awareness Day, IRS and Partners Launch Outreach Campaign to Low- and Moderate-Income Workers

Source: irs.gov - Feb 8, 2012

IR-2012-11, Jan. 27, 2012 WASHINGTON — The Internal Revenue Service and community partners nationwide today launched their annual outreach campaign aimed at helping millions of Americans who... Read more >

Category: IRS

When to File Gift Tax Forms--Steps to take if you think gifts, payments or transfers to family members may run afoul of federal gift tax rules.

Source: smartmoney.com - Feb 6, 2012

Generally speaking you only need to file a gift tax form when you exceed the annual $13,000 tax-free gift limit. But it's also prudent to send in that Form 709 every time you make a transaction... Read more >

Category: IRS

Big medical bills may add up to tax breaks

Source: shreveporttimes.com - Feb 5, 2012

Taxpayers swamped by big medical bills in 2011 can get some relief when they file their income tax forms this spring thanks to an overlooked deduction that is hard to reach in a typical year. The... Read more >

Category: IRS

When Can I Expect My Refund?

Source: irs.gov - Feb 3, 2012

The Internal Revenue Service reminds taxpayers to keep in mind that many variables can affect the speed of a tax refund. Using e-file with direct deposit remains the fastest option for taxpayers.... Read more >

Category: IRS

How The New IRS Form 1099K Impacts Your Tax Return

Source: auctionbytes.com - Jan 31, 2012

By Barbara Weltman EcommerceBytes.com January 02, 2012 This year, companies that process credit and debit cards as well as third-party network payments such as PayPal, Amazon.com and Google... Read more >

Category: IRS

BBB: Watch out for tax preparation scams

Source: tucsonsentinel.com - Jan 31, 2012

Posted Jan 30, 2012, 12:30 pm Nick LaFleur Better Business Bureau Consumers expecting a tax refund might be looking forward to filing their taxes early this year, but the Better Business Bureau... Read more >

Category: IRS

Old tax returns can be ordered up

Source: nola.com - Jan 31, 2012

Published: Sunday, January 29, 2012, 5:58 AM By The Times-Picayune I need to track down a copy of my 2001 tax return. Do you know how I can get a copy of it? You can order a transcript of... Read more >

Category: IRS

Tax bracket vs. tax rate: They're two different things

Source: thenewsstar.com - Jan 22, 2012

By Sandra Block, USA TODAY Ask most Americans how much they pay in taxes, and they'll probably refer to their tax bracket, a series of rates that ranges from 10% to 35%. By that measure, Mitt... Read more >

Category: IRS

National Taxpayer Advocate Delivers Annual Report to Congress; Focuses on IRS Funding and Taxpayer Rights

Source: irs.gov - Jan 22, 2012

IRS Newswire January 11, 2012 WASHINGTON — National Taxpayer Advocate Nina E. Olson today released her annual report to Congress, identifying the combination of the IRS’s expanding workload... Read more >

Category: IRS

IRS Offshore Programs Produce $4.4 Billion To Date for Nation’s Taxpayers; Offshore Voluntary Disclosure Program Reopens

Source: irs.gov - Jan 16, 2012

IR-2012-5, Jan. 9, 2012 WASHINGTON — The Internal Revenue Service today reopened the offshore voluntary disclosure program to help people hiding offshore accounts get current with their taxes... Read more >

Category: IRS

IRS Releases New Tax Gap Estimates; Compliance Rates Remain Statistically Unchanged From Previous Study

Source: irs.gov - Jan 9, 2012

R-2012-4, Jan. 6, 2012 WASHINGTON — The Internal Revenue Service today released a new set of tax gap estimates for tax year 2006. The tax gap is defined as the amount of tax liability faced by... Read more >

Category: IRS

Seven Tips for Choosing a Tax Preparer

Source: dailyfinance.com - Jan 4, 2012

By Kelly Phillips Erb As tax laws become increasingly complicated, more taxpayers rely on tax professionals and tax software to help prepare their returns. In her most recent report to Congress,... Read more >

Category: IRS

Tips for Choosing a Tax Preparer

Source: irs.gov - Jan 4, 2012

If you pay someone to prepare your tax return, the IRS urges you to choose that preparer wisely. Taxpayers are legally responsible for what’s on their tax return even if it is prepared by someone... Read more >

Category: IRS

Straight from IRS Site --Six Year-End Tips to Reduce 2011 Taxes

Source: irs.gov - Dec 28, 2011

Here are six tax-saving tips for you to consider before the calendar turns to 2012: Make Charitable Contributions – If you itemize deductions, your donations must be made to qualified... Read more >

Category: IRS

Not News--just want to highlight these links for visitors

Source: larrysincometax.com - Dec 27, 2011

Cut and paste these links to your address bar: Use this link to compare retirement plans a quick glance: http://www.retirementplans.irs.gov/plan-comparison-table/ Use this link to read about... Read more >

Category: IRS