One Last Checkup Are you withholding enough for your taxes? As we enter into the fall months, it’s a good time to check your tax withholdings to make sure you haven’t been paying too much or too little. This is especially true if major changes took place
Read more →What you need to know: In late 2015 Congress required the IRS to turn over uncollected taxes it is no longer pursuing to outside collection agencies. The agencies are now selected and in early 2017 they will begin their collection efforts. This will impact all of us.
Read more →The IRS is Not Always Right Quotes from actual IRS correspondence received by clients: “Our records show we received a 1040X…for the tax year listed above. We’re sorry but we cannot find it.” “Our records show you owe a balance due of $0.00. If we do not
Read more →2015 audit statistics show continued changes What are the Chances? Every year the IRS publishes the statistics on the number of tax returns they are examining. Provided here are the last three years of published information and a look back to 2008 to see any trends: Percent
Read more →In a 1,300 page Transportation Bill signed into law in December, 2015, there are eight pages that require the IRS to assign unpaid tax bills to outside collection agencies. This means that third party companies will now be calling taxpayers as representatives of the IRS to
Read more →The IRS recently announced mileage rates to be used for travel in 2016. The Business mileage rate decreases by 3.5 cents while Medical and Moving mileage rates are lowered by four cents. Charitable mileage rates are unchanged. 2016 Standard Mileage Rates Mileage Rate/Mile Business Travel 54.0¢ Medical/Moving
Read more →Yes, you can start a dialogue with the IRS if you feel that its findings are incorrect. The very thought of having to communicate with the Internal Revenue Service about something you believe is an agency error is intimidating to most people. The tax code is
Read more →In the past few months, the IRS has admitted to a major breach into taxpayer records. This breach was not a hacking operation. The thieves had valid names, addresses, Social Security Numbers and more. They used this information to get by the security measures in place on
Read more →Don’t panic: It isn’t necessarily bad news. But you may need to deal with it. Getting a letter actually addressed to you personally is becoming a thing of the past, what with email and social media taking over a lot of our correspondence. But a
Read more →During its annual review of the tax filing season, the Treasury Inspector General for Tax Administration (TIGTA) discovered the IRS was incorrectly denying educator expense deductions for some taxpayers. The deduction In 2014, qualified educators could reduce their income by up to $250 for classroom related expenses.
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