Wednesday, May 15, 2013
The agency apologized last week for automatically sending Tea Party and similar groups through multiple hoops before the 2012 election.
President Obama this week said efforts by IRS employees to target new conservative groups for extra scrutiny were "outrageous," echoing many administration critics who charged that the measures were politically motivated. "I have got no patience with it, I will not tolerate it, and we will make sure that we find out exactly what happened on this," Obama said in a news conference Monday. The Wall Street Journal reported that an Inspector General's report concludes there was widespread targeting of conservative-linked groups for aggressive questioning, but that no one outside the IRS was involved in establishing the practice. (The report was released Tuesday.) Former IRS Commissioner Douglas Shulman, an appointee of President George W. Bush…
Thursday, April 11, 2013
Would you be comfortable having the IRS as a Facebook friend? Or maybe even a friend of a friend?
As procrastinators rush to file their tax returns before Monday's deadline, reports surfaced that the Internal Revenue Service could use social media sites, such as Facebook and Twitter, to check up on tax cheats. Mediabistro.com shared a report that the IRS will be checking into individual Facebook and Twitter accounts for improprieties. The report does say that, according to the IRS, it would only be in cases where a tax form raises a red flag. It is not clear, though, just how far into social media sites the agency intends to go. However, it might not be a good idea to display your Caribbean vacation photographs on your Facebook page if you've reported a big loss on your tax return. Social media sites have already contributed to the …
Wednesday, January 16, 2013
Standard deductions will increase, but the ceiling for itemized deductions decrease in 2013, plus other changes that will affect your taxes this year.
Wednesday, January 16
The Internal Revenue Service announced the annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes: Source: Internal Revenue Service ~ Peachtree Corners Patch
Monday, January 14, 2013
The IRS has announced a delayed start to the 2012 tax filing season.
You'll have to wait a bit if you are used to filing your annual tax return at the earliest possible date. The Internal Revenue Service has revised its opening date for tax season -- pushing it eight days to January 30, 2013. The tax filing deadline is still Monday, April 15. The IRS will begin accepting tax returns on Jan. 30, 2013. Most taxpayers should be able to file on that date although some revised forms may not be immediately available. You can blame the delay on the federal "fiscal cliff" crisis and the new tax bill Congress passed just after Dec. 31. You can find more information in this Forbes article. Electronic filing season was originally set to start on Jan. 22 this year. As a result of the delay, nobody will get a refund in …
Thursday, December 29, 2011
In the middle of rushing, don't neglect to do the important things before December 31.
Thursday, December 29, 2011
The Internal Revenue Service knows that you are rushing right now to make last-minute donations to your favorite charities, which certainly helps reduce your taxes. In the process, givers may forget some obvious things, including other things that can be done to help you in this mad dash to the December 31 deadline. Here's a tip sheet from the IRS to help you out. 1. Make charitable contributions. If you itemize deductions, donations must be made to qualified charities no later than Dec. 31 to be deductible for 2011. You must have a canceled check, a bank statement, credit card statement or a written statement from the charity, showing the name of the charity and the date and amount of the contribution for all cash donations. Donations …