Archive for 'News'

2012 Filing Deadline Extended

Posted on06. Jan, 2012 by .

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The IRS recently announced that, like last year, the 2012 deadline has been extended to April 17, 2012. I’d like to say it was because they just felt like being nice, but I’d be lying. They extended the deadline because April 15 happens to be a Sunday, and Washington DC observes Emancipation Day the very [...]

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Finders Keepers

Posted on22. Jun, 2011 by .

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Let’s say you had a certain amount of money deposited into your bank account unexpectedly… what would you do? What would you really do? What if the amount was only $50? What if it was $110,000? What if the amount was deposited by the IRS (or the Treasury)? Would you try to figure out why [...]

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I’m Back!

Posted on07. Jun, 2011 by .

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The last tax season was, well, hectic. After that I needed a vacation. After my vacation I needed motivation to get back to writing. And to work in general. Now, I’m back. Refresh and renewed. The 2010 tax season was probably my most hectic. That’s not a complaint, though. Believe me. It proved to be [...]

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Want to Check the Status of Your Refund? There’s an App for That!

Posted on01. Feb, 2011 by .

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The IRS is clearly trying to embrace technology. First there was Twitter, YouTube, and now an application for your smartphone. The app is called IRS2go, and is available on both the Android marketplace and the iPhone App Store. The app currently allows you to check the status of your refund, subscribe to IRS news, follow [...]

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IRS Will be Ready to Accept Returns on February 14

Posted on24. Jan, 2011 by .

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I previously mentioned that the IRS wouldn’t be ready to accept certain e-filed or paper returns until sometime in February. They’ve now announced a definitive date: February 14. The returns that are impacted are those that claim deductions on Schedule A (mortgage interest, property taxes, medical expenses, etc.), the higher education tuition and fees deduction [...]

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2011 Mileage Rates Announced

Posted on07. Dec, 2010 by .

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The IRS recently announced the 2011 mileage rates for business, medical, and charitable purposes.  The rate for business miles increased from 50 to 51 cents, medical and moving, increased from 16.5 to 19 cents, and charitable miles remain unchanged at 14 cents per mile. The mileage rates are based on an annual study performed by [...]

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The IRS Wants to Give You Money

Posted on20. Nov, 2010 by .

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Really. They do. This year, like all the others before it, the IRS is trying to return undeliverable refund checks to a few taxpayers. This time around they’re on a mission to return $164.6 million, with an average of $1,471 per check. Do the math; that’s 83 million cups of coffee or clean drinking water [...]

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IRS Online PTIN Registration is Finally Here!

Posted on28. Sep, 2010 by .

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Just when I was beginning to think this wasn’t going to be ready in September as was originally announced, the IRS announced today that their online PTIN registration system is now ready.  Some of you should be relieved since, other than the 1099 debacle, it seemed as if this is all anyone talked about for months. All [...]

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Want to look like Valentino? That’ll be extra.

Posted on15. Jun, 2010 by .

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I’d like to think the majority of you have already heard about the 10% excise tax on tanning services that was pushed through with the health care reform bill.  No? C’mon, even Jersey Shore’s Snooki keeps up to date with her tax law.  (And apparently McCain watches Jersey Shore. Who knew.) So here’s the deal.  [...]

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UBS and the IRS’ Voluntary Disclosure Program

Posted on17. Aug, 2009 by .

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John McCarthy, a California businessman, became the 4th person to be charged in the UBS tax-evasion case. According to the plea agreement, Mr. McCarthy used his UBS account to transfer over $1 million from his California firm. He admitted to not paying at least $200,00 in federal income taxes. McCarthy was one of about 300 [...]

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