The Internal Revenue Service announced Monday that the nation’s tax season will begin Monday, Jan. 23, 2017 and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. The IRS will begin accepting electronic tax returns that day, with more than 153 million individual tax returns expected to be filed in 2017.…
Had a great year last year and suddenly enjoyed a surge in income? You could have a target on your back for an IRS audit. While getting audited is no fun, you can survive! The key to remember is you need to have solid documentation to back up any claims you make about your overall…
2023 Tax Filing Important Tax Deadlines and Dates Calendar When are 2022 taxes due? The due date for filing your tax return is typically April 15 if you’re a calendar year filer. Generally, most individuals are calendar year filers. For individuals, the last day to file your 2022 taxes without an extension is April 18,…
As the holidays approach, the Internal Revenue Service today reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February each year for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit. In addition, new identity theft and refund fraud safeguards put in place by the…
The Internal Revenue Service is warning tax professionals that next year a new law will require the IRS to hold all Earned Income Tax Credit and Additional Child Tax Credit refunds until Feb. 15 as a safeguard against identity theft and tax fraud. The IRS pointed out the new law is likely to affect some…
The Internal Revenue Service has launched the second year of its public awareness campaign aimed at improving taxpayer security in partnership with tax software companies, tax preparation chains, and state tax authorities. The campaign from the IRS and its partners in its Security Summit program includes a series of security awareness tax tips, a set…
The IRS has released another in its series of reminders to ensure “smooth processing” of your tax returns and avoiding delay in refunds. Among their tips: Have all relevant documents, such as W-2s and 1099s, before filing a return. Taxpayers may also need a copy of their 2015 return. Beginning in 2017, taxpayers using a…
In life, there are things you just know, chief among which is the fact that you never, ever mess with Trey Gowdy, especially when you’re clueless on a particular issue because he will knock you squarely into the middle of next week. A while back, the IRS, on order from the Obama Administration, was unfairly…
The IRS has unjustly seized $43 million from over 600 people under the guise of violating structuring laws, despite the fact that no legitimate crimes were committed. According to federal law, whenever someone conducts a cash transaction that exceeds $10,000, the bank is required to file a currency transaction report with the Treasury Department.…
IRS Wasted $12 Million Dollars on Unusable Email System A report released by the Treasury Inspector General for Tax Administration (TIGTA) revealed that the IRS (Internal Revenue Service) spent $12 million on an email system that it couldn’t use. The agency purchased two years’ worth of email software subscriptions from Microsoft before finding out that…
