Did you get married last year?

The Internal Revenue Service is warning taxpayers to be sure to notify the Social Security Administration before they file their taxes if they have changed their own name or the name of one of their dependents has changed. Otherwise their tax refund could be delayed. The IRS pointed out that this is important because the…

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Congressional Democrats Warn Boehner of Tax Refund Delay if Debt Ceiling Isn’t Lifted

WASHINGTON, D.C. (FEBRUARY 3, 2014) BY MICHAEL COHN Source: http://www.accountingtoday.com/news/Congressional-Democrats-Warn-Boehner-Tax-Refund-Delay-Debt-Ceiling-Lifted-69482-1.html?utm_campaign=daily-feb%204%202014&utm_medium=email&utm_source=newsletter Democrats on the tax-writing House Ways and Means Committee have written to Speaker of the House John Boehner, R-Ohio, urging him to introduce legislation to raise the debt ceiling without pre-conditions, warning that the Treasury Department would not be able to pay tax refunds without…

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Bronx Laundromat Offers Tax Prep Services

“One of these things is not like the other” (source: http://www.accountingtoday.com/news/Bronx-Laundromat-Offers-Tax-Prep-Services-69260-1.html?ET=webcpa:e9829:2623486a:&st=email)   BRONX, N.Y. (JANUARY 13, 2014) BY MICHAEL COHN A laundromat in the Bronx, N.Y., plans to offer tax prep services while New Yorkers wash their clothes. Starting this Wednesday, 1 Stop Bronx Laundromat will offer walk-in tax preparation from January 15 through April 25,…

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Taxpayer Advocate Calls for Taxpayer Bill of Rights

(source: http://www.accountingtoday.com/news/Taxpayer-Advocate-Calls-Taxpayer-Bill-Rights-69230-1.html? ) “Taxpayer rights are central to voluntary compliance,” said the report. “If taxpayers believe they are treated, or can be treated, in an arbitrary and capricious manner, they will mistrust the tax system and be less likely to comply with the laws voluntarily. If taxpayers have confidence in the fairness and integrity of the system,…

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When you gonna file that tax return?

(Ian’s note:  You can thank your Congress for this delay, courtesy of the Highly Successful Government Shutdown)   IRS Sets the Date: Tax Season Starts Jan. 31 (From: http://www.accountingtoday.com/news/irs-sets-the-date-tax-season-starts-jan-31-69027-1.html?ET=webcpa:e9736:2623486a:&st=email) WASHINGTON, D.C. (DECEMBER 18, 2013) BY DANIEL HOOD The Internal Revenue Service announced today that the 2013 tax season will start on January 31, and encouraged taxpayers…

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IRS Hits Boxer Manny Pacquiao with $18.3M Tax Lien

IRS Hits Boxer Manny Pacquiao with $18.3M Tax Lien Source: http://www.accountingtoday.com/news/IRS-Hits-Boxer-Manny-Pacquiao-Tax-Lien-69003-1.html?ET=webcpa:e9727:2623486a:&st=email WASHINGTON, D.C. (DECEMBER 16, 2013) BY MICHAEL COHN The Internal Revenue Service has reportedly filed a tax lien for more than $18.3 million against Filipino boxer and politician Manny Pacquiao. Manny Pacquio: (photo by Akira Kouchiyama Wikimedia Commons) . . . . The unpaid…

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Read this before depreciating your year old racehorse!

Numerous tax provisions expire at year end (direct source: http://www.journalofaccountancy.com/News/20138477.htm) BY ALISTAIR M. NEVIUS, J.D. DECEMBER 5, 2013 Taxpayers and practitioners breathed a sigh of relief in January when Congress passed the American Taxpayer Relief Act of 2012 (ATRA), P.L. 112-240, at the last minute, bringing some certainty to a host of provisions that had…

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IRS not issuing liens or levies, enforcement actions limited, during shutdown

Important news, especially if you have tax issues: (via: http://www.journalofaccountancy.com/News/20138894.htm) BY SALLY P. SCHREIBER, J.D. OCTOBER 9, 2013 The IRS updated its website to notify taxpayers that, during the current government shutdown, the IRS is not sending out liens or levies either generated automatically or sent by personnel. Taxpayers may still receive notices of liens…

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IRS Aims to Raise Fees for Offers in Compromise and Installment Agreements

(VIA: http://www.accountingtoday.com/news/IRS-Raise-Fees-Offers-in-Compromise-Installment-Agreements-67939-1.html?ET=webcpa:e9221:399018a:&st=email) WASHINGTON, D.C. (AUGUST 30, 2013) BY MICHAEL COHN The Internal Revenue Service has released proposed regulations that would increase the user fees for both offers in compromise and installment agreements for the first time since 2007. The proposal comes after years of successive budget cuts for the embattled agency, but the IRS has…

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IRS Opens Site to Explain Health Care Tax Provisions

WASHINGTON, D.C. (AUGUST 16, 2013) BY MICHAEL COHN (via: http://www.accountingtoday.com/news/IRS-Opens-Site-Explain-Health-Care-Tax-Provisions-67762-1.html ) The Internal Revenue Service has launched a new Affordable Care Act Tax Provisions site at IRS.gov/aca to educate individuals and businesses on how the health care law might affect them. The home page of the site includes three sections explaining the tax benefits and…

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