Oops! Did you determine that you made an error on an income tax return that you already filed? It’s not unusual. That’s why the IRS has a special form that will fix it. Maybe a 1099 that you had forgotten about came in after you’d filed
Read more →The Affordable Care Act (ACA) continues to evolve as the IRS begins to address challenges faced during the past tax season. A recent IRS announcement warns taxpayers who use the Premium Tax Credit to file their 2014 tax return immediately. Failing to do so may cause the
Read more →Even if you guard that critical 9-digit number carefully, you can still have a fraudulent tax return filed using it. Your first thoughts when you become the victim of a tax identity thief might go along the lines of: Did I click on a link in an
Read more →2014 audit statistics show changes Every year the IRS publishes the statistics of 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: Observations: Overall, you have less than
Read more →Each year the IRS announces the “Dirty Dozen Tax Scams” they encounter most frequently regarding frivolous tax arguments and fraud. While seven of the “scams” are related to, “don’t cheat we have our eyes on you,” the other five are scams that all of us should be
Read more →Want your tax return filed quickly and without error? Looking for a quick refund? Then double-check this list of items that are often overlooked. These missing items often cause delays in getting your tax return filed and your much anticipated refund into your hands. Missing W-2 or
Read more →For the first time, all taxpayers must include information about their health care coverage to the IRS on their 2014 Form 1040. Another year, another tax form or two. 2014 was the first tax year that the Individual Shared Responsibility Provision (SRP) of the Affordable Care Act
Read more →The IRS recently announced mileage rates to be used for travel in 2015. The business mileage rate increases by 1.5 cents while Medical and Moving mileage rates are lowered by one cent. Charitable mileage rates are unchanged. Standard Mileage Rates Mileage Rate/Mile Business Travel 57.5¢ Medical/Moving
Read more →“What to do if You Get a Notice from the IRS Each year the IRS mails millions of notices. Here’s what you should do if you receive a notice from the IRS: 1. Don’t ignore it. You can respond to most IRS notices quickly and easily. And it’s
Read more →Yes, the word strikes fear in every taxpayer’s heart. Here are the basics. You may know someone who’s been through an IRS audit. You’ve at least heard that it can be a grueling, complex process. But how much do you really know about this potentially-unpleasant procedure? Here’s some of
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