The most common IRS tax audit triggers
The IRS has a computer system called the Discriminant Information Function (DIF) that detects anomalies in all tax returns which may lead to an audit. Watch out for the following things that trigger an audit that may cause you a lot of stress. Duplication of information. If you and another person claim the same dependent, […]
All New Tax Withholding Calculator Now Works For Self-Employed
If you have self-employed income or are retired the IRS has completely revamped its tax withholding calculator for you to get a good estimate as to how much tax you will have to pay. With self-employed and other types of taxpayers often now paying their bill quarterly it is sensible to have a look at […]
Private IRS Tax Debt Collection – What Do You Do?
The IRS is now able to contract a private debt collection agency to force you to repay your tax debt. In this blog we will show you how to be certain they are legitimate and how to deal with one when they announce they are coming to force you to repay your tax debt.
Evangelist Takes M&E Allowances Too Far!
A Catholic evangelist was refused nearly $40,000 in tax deductions as the Tax Court judge felt that he benefited personally from the spending and not the nonprofit he is working with. Annapolis Md resident Robert Oliveri crisscrossed the United States, preaching the Word of God to whomever he meets. Marketwatch reports, he “evangelizes individuals he […]
Irs Oic Calculator: How Much Should You Offer?
Many fear the tax man as they may a policeman or judge when they have done wrong! Fear not – if you are in a genuine state of hardship you can reach an agreement with the IRS to get tax relief help that year. The Offer In Compromise (OIC) is available in certain circumstances when […]
Ultimate Guide To Survive An IRS Tax Audit
How To Survive An IRS Tax Audit We all dread having the IRS tell us it wants to reassess our previous year’s tax return. Let me start off by saying that if you’re being audited, you should probably look for help in a Tax professional. But if you’re the do-it-yourself kind, then there are certain […]
IRS Tax Timeline 2014 Infographic Guide – Critical Dates, Deadlines, and Reminders
IRS Tax Deadlines in Year 2014 January 31, 2014 The IRS expects to begin processing 2013 individual tax returns (IR-2013-100). Deadline for employers to mail out Form W-2 to employees and for businesses to supply Form 1099 statements reporting, among other things, dividends, bank interest, non-employee compensation, and distributions from a retirement plan. Deadline for […]
Top 10 Tips for Filing IRS Tax Returns in 2014
With the 2014 tax filing season underway, most Americans are scrambling to find all deductions or credits that are available to them. Here are ten steps that taxpayers may be able to take to get the most in a refund on their 2014 returns. Ignoring IRS tax problems is a big mistake many people commit. […]