Sunday 23rd of July 2017 11:32:26 AM

Posts Tagged ‘tax returns’

  • Irs Announces New Deputy Commissioner for Services and Enforcement

    Thursday 29th of August 2013 1:10:38 PM

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    Danny Werfel, IRS Acting Commissioner, announces that former IRS exec John M.  Dalrymple is now the new Deputy Commissioner for Services and Enforcement.

    “This is a critical leadership position for the IRS touching on everything from taxpayer service to tax enforcement issues,” Werfel said. “During John’s three decades at the IRS, he gained a wealth of first-hand expertise and experience in areas he will be leading. His insight and knowledge of the IRS will be an asset to help keep our core tax operations running smoothly.”

    Read More…

  • The IRS Sent me a Notice

    Friday 02nd of August 2013 4:07:14 PM

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    Has the IRS sent you a notice and you are not sure why? Well, the IRS urges that if they have sent you a notice, rather than call the IRS you can refer to this IRS page  for the reason of the notice!

    It can be as simple as “We’re reviewing your tax return” or “We are examining your return and we need documentation.”  If you pay attention, there is a code on your letter.  Match that code with the ones found on that IRS page from earlier to find the reason for your notice.

    You can read more about this here.

  • Beware of Fake IRS Websites

    Thursday 25th of July 2013 10:56:18 AM

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    With tax and identification fraud on the rise, the IRS issues warnings to be cautious of fictitious IRS websites.  Apparently there are quite a number of website wannabes that are solely in place to steal taxpayer information.  These phony websites have been known to be apart of tax scams to collect vital information such as social security numbers along with addresses and other financial information. Don’t let yourself fall victim to these scams.

    The actual website for the IRS is www.IRS.gov .  There is no .com, .net, or .gov.  Please use caution when submitting any personal information to any site.

    You can visit www.IRS.gov for more information about phishing.

  • IRS Releases a 3-Part Report to Fix Tax Exempt Applications

    Tuesday 25th of June 2013 11:13:52 AM

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    In Washington on June 24, 2013-Danny Werfel, Internal Revenue Service Principal Deputy Commissioner, releases a 3-part report describing the actions to fix issues that were discovered throughout the IRS’ review of tax exempt applications.  The report also describes how the applications will be improved and how it will smooth the processes at the IRS.

    Werfel said “It is critical that the IRS takes steps to ensure accountability, address the problems uncovered in recent weeks and improve the operations of the IRS to continue to carry out our critical mission on behalf of the public,” and “We have made a number of changes already, more are in the works and even more will develop as we move forward.”

    To read the full story, please visit the IRS website.

     

  • Results of 9th Business Tax Climate Index

    Thursday 11th of October 2012 5:48:25 PM

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    Tax Foundation (TF) reports show that states not having one or more major statewide taxes such as corporate income tax, sales tax or personal income tax favor good result compared to states having those kinds of tax.

    States of Wyoming, South Dakota, Nevada, Alaska, Florida, New Hampshire, and Montana are included in the top ten list of the 9th State Business Tax Climate Index whereas Maryland, Iowa, Wisconsin, North Carolina, Minnesota, Rhode Island, Vermont, California, New Jersey, and New York placed at the bottom list.

    In the case of New York, even though it registered moderate corporate taxes, the state ranked bottom due to the records of being the worst individual income tax, 6th worst unemployment insurance tax, and 6th worst property tax.

    Tax Climate Index is being used by US taxpayers, business leaders, and government policymakers to determine the situation of each state tax system based from the TF comparative report.

    source: tax-news.com

  • Safeguard Your Tax Returns

    Saturday 06th of October 2012 5:52:52 PM

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    Not many are aware that safeguarding their tax returns is a way to avoid income tax debt.  Here are some examples on how it can be done:

    1. Comparing your pay stubs with your W-2 can avoid discrepancy in your tax return.
    2. Keeping a record of your tax filing forms and other important document used in tax returns for at least 3 years will save you in IRS tax audit. » Read More

  • Today’s Tax Reminder

    Wednesday 03rd of October 2012 3:15:10 PM

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    October 3 was set by the IRS as the date for small businesses to deposit their Sept 26-28 payroll taxes payment following the semiweekly deposit rule.

    Included in the payroll taxes are Social Security/Medicare payments and other income tax withholding specified in the Form W-4.

    In the “look back period” of the semi-weekly rule, the total payroll taxes should be more than $50,000 if not, monthly deposit rule applies.

    If still unsure about the process, you can seek for the assistance of the IRS or 911taxrelief.com in matters concerning tax returns particularly payroll tax problems.

  • TF Alarms The Situation of Estate Taxes

    Friday 14th of September 2012 12:39:36 AM

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    Tax Foundation (TF) released a statement that estate tax has contributed to the slow economic growth of United States. Below revenue margin accounted to the present level of estate tax by being the smallest source of US federal revenues today.

    In 2011, estate tax increased only by roughly 0.05%, whereas 2012 would show projections of increase by 0.42%. TF pointed out that taxpayers move in making charitable donations and using a ‘stepped up’ basis for asset valuations as their means to avoid estate taxes were seen reasons for its low tax returns.

    SOURCE: tax-news.com

  • IRS Tax Problems

    Thursday 01st of December 2011 6:39:22 PM

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    Tax Problems?
    Millions of Americans today owe back taxes to the IRS. Unfortunately, when you owe back taxes regardless of the amount, the IRS will eventually put you into collections which starts with letters and leads to wage garnishments, bank levies, liens and so fourth. Once IRS issues get this far, you need help (or if it has not got to this point be proactive and seek help).

    Again from the IRS imposing tax liens to bank levies, wage garnishments to the IRS closing your business (if you are a business owner and / or seizure of your assets. The IRS is powerful at collections and has lot’s of collection tools that in many cases destroy individual, business and family finances. The good news is taxpayers also have a tremendous amount of tax resolution tools should you decide to exercise your rights. With the help of a tax resolution professional, you can keep the devastating effects from the IRS to a minimum and delay processes as needed. Here at 911 Tax Relief we feel it is our job to help you explore your options by listening and understanding your unique tax and current financial situation.

    » Read More

  • The IRS Can Increase Collections By Reducing the Time Between Balance Due Notices

    Tuesday 08th of November 2011 11:32:02 PM

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    WASHINGTON — The Internal Revenue Service (IRS) could potentially collect additional revenue each year by reducing the time elapsed between notices it sends to taxpayers who owe taxes, the Treasury Inspector General for Tax Administration (TIGTA) concluded in a report publicly released today.

    The IRS sends a series of balance due notices to taxpayers with unpaid tax liabilities. TIGTA determined that the first notice was the most effective notice by a wide margin because the first notice closed the most cases, collected the most money, and generated the most taxpayer responses.

    » Read More

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