by admin on January 30, 2012
IRS Audit Red Flags: The Dirty Dozen – Although there's no sure way to avoid being audited, your chances increase depending upon various factors. (Read more breaking news about ‘Irs’ here)
Apply For A Passport? IRS Will Know – If you apply for a passport, the IRS will know. It?s not clear how the IRS uses this data, although my guess is for data verification plus perhaps information gathering for later collection efforts. The IRS has released proposed regulations to ramp up the information the IRS receives to better enforce the tax laws. These … (Read more breaking news about ‘Irs’ here)
IRS Revised Rules for Streamlined Installment Agreements – The IRS recently relaxed its rules for payment of smaller tax liabilities. The revised procedures now allow taxpayers up to 72 months to pay their tax obligations. The new procedures also increase the maximum amount subject to the relaxed streamlined agreements from $25,000 to $50,000. You may request a monthly installment plan by submitting Form 9465-FS to if your liability is greater than $25 … (Read more breaking news about ‘Irs’ here)
12 IRS audit flags for 2012 – The chance of an IRS audit is low, but audits are on the rise – here are 12 red flags to look out for when you file your taxes (Read more breaking news about ‘Irs’ here)
IRS Lowers Bar for Innocent Spouse Relief – The filing of a joint income tax return has the legal effect of an irrevocable election by each spouse to be jointly and severally liable for tax reported, or properly reportable, on the return. In other words, each spouse can be held liable for the full amount of the tax, though the IRS can collect the tax only once. (Read more breaking news about ‘Irs’ here)
IRS Free File available now – IRS Free File, which has been making taxes a little less taxing for a decade is available now. More than 33 million returns have been filed through Free File since its debut. (Read more breaking news about ‘Irs’ here)
IRS Lowers the Bar for Innocent Spouse Relief – The filing of a joint income tax return has the legal effect of an irrevocable election by each spouse to be jointly and severally liable for tax reported, or properly reportable, on the return. In other words, each spouse can be held liable for the full amount of the tax, though the IRS can collect … (Read more breaking news about ‘Irs’ here)
IRS: Don’t miss out on Earned Income Tax Credit – IRS: Don’t miss out on Earned Income Tax Credit the salt lake tribune Published Jan 30, 2012 09:38AM MDT The Internal Revenue Service on Monday launched its annual outreach campaign aimed at helping the millions of Americans who earned $49,078 or less take advantage of the Earned Income Tax Credit. The agency also is spreading the word about free preparation assistance. Although an estimated … (Read more breaking news about ‘Irs’ here)
IRS Eases Up on Abuse Victims – It is a real tragedy that someone can escape an abusive marriage, only to find themselves being pursued by the IRS for the abuser's tax debts. How does it happen ? Filing a joint return will usually result in a married couple having a lower federal tax than the total of two married filing separate returns (The total of the two returns as single might be even lower, but that is not an option if … (Read more breaking news about ‘Irs’ here)
The Case For Investing in the IRS – Most American taxpayers would not consider the IRS to be underfunded, let alone the IRS?s need for more resources to be the most serious problem they face. Given the growing ?tax gap? (i.e., the amount of all unpaid tax liabilities), however, a persuasive case can be made that the government should invest more in the IRS?s budget. (Read more breaking news about ‘Irs’ here)
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