IRS

TAX SCAM 1  54d39dfa3c63b

March 17, 2016 

IRS Warns Of New Tax Scams

The latest variation being seen in the last few weeks tries to play off the current tax season. Scam artists call saying they have your tax return, and they just need to verify a few details to process your return. The scam tries to get you to give up ...

 4 Steps for Small Businesses to Prepare for Tax Season

March 17, 2016 

4 Steps for Small Businesses to Prepare for Tax Season

Preparing to file taxes can sometimes be a year-round job, even for small businesses. It may involve different responsibilities, including estimating tax payments, planning to buy or lease capital equipment, developing retirement-saving strategies, etc.

IRS lawsuit

March 17, 2016 

IRS Increases Interest Rates for 2nd Quarter 2016

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

IRS Logo 1  56e6c37e4cec7

March 16, 2016 

IRS Returns Seized Cash to Convenience Store Owner

The IRS seized more than $150,00 from a convenience store owner’s bank account in 2014 – virtually all the money he had in the world – even though he did absolutely nothing wrong. It has taken the taxpayer nearly two years to get the money bank and ...

Tax Reform Project Rex Site 1  56e6cc4d6f31a

March 15, 2016 

Tax Reform Takes Center Stage in 2016

The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) may be the last significant tax bill of the Obama administration. With the 2016 presidential election looming, tax directors are closely watching how America’s choice will impact the tax ...

 IRS Is Holding Almost $1 Billion in 2012 Tax Refunds

March 15, 2016 

IRS Is Holding Almost $1 Billion in 2012 Tax Refunds

In cases where a tax return was not filed, the tax law provides most taxpayers with a three-year window of opportunity for claiming a refund. However, if no return is fled in time, the money becomes the property of Uncle Sam. For 2012 tax returns, the ...

IRS_building_2013

March 14, 2016 

IRS Taxpayer Advisory Panel Gets New Members

The new TAP members will join 41 returning members to round out the panel of 73 volunteers for 2016. The new members were selected from more than 1,000 interested individuals who applied during an open recruitment period last spring and the pool of ...

 Clock Ticking on $950 Million in Tax Refunds from 2012

March 14, 2016 

Clock Ticking on $950 Million in Tax Refunds from 2012

The Internal Revenue Service says that federal income tax refunds totaling $950 million are waiting for an estimated one million taxpayers who did not file a federal income tax return for 2012. To collect the money, these taxpayers must file a ...

EA 20video 20pic2 1  56d46e4e2a0cc

March 2, 2016 

Association Tells IRS That Hike in EA Test Fees Are Too Much

NAEA President Terry Durkin, EA, has requested that IRS share the costing models or methodology used to derive the user fees, but as of today NAEA has not received that information. Without this information, it is difficult to determine whether or not ...

tax reform 1  5540d268d98f6

March 1, 2016 

New Tax Laws Offer Big Benefits to Some Small Businesses

This legislation included the extension of more than 50 tax credit and incentive programs that expired on Dec. 31, 2014 – among them an array of federal tax credits that offer incentives to employers who implement various hiring, training and ...