From the category archives:

IRS news/announcements

IRS Announces 2012 Mileage Rates

9 December 2011

The IRS has issued the 2012 optional standard mileage rates used for deducting the costs of operating an automobile for business, charitable, medical or moving purposes. They are: 55.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable [...]

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IRS Moves Ahead Assuming No Change in 2012

8 December 2011

This week, the IRS released Notice 1036 (downloads as a pdf) outlining the percentage method income tax withholding tables and the Social Security withholding rate for 2012. The Notice assumes no tax deal for 2012 but does include this warning: At the time this notice was prepared for release, Congress was discussing a possible change to [...]

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IRS Taps Student Loan Agencies

6 December 2011

There are very few people that I like dealing with less than the folks who administer my student loans for law school. Undergrad, I managed just fine. But when I moved to Pennsylvania, I was forced to deal with the Pennsylvania Higher Assistance Agency (PHEAA). If you’ve ever dealt with PHEAA, you know they’re a [...]

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Does the IRS Owe You Money?

1 December 2011

The IRS has announced that it has $153.3 million in undelivered tax refund checks because of mailing address errors. There are 99,123 taxpayers who are due refund checks, making the average check a whopping $1,547. If you think you might be owed some cash, you can check with the IRS by using the online “Where’s [...]

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IRS Responds to Criticisms Of Preparer Notices

22 November 2011

Well that was quick. Days after the IRS sent out copies of the Notice 4809 to 21,000(ish) tax preparers, complaints were already flying. One tax preparer crafted this response to IRS Commissioner Doug Shulman while others took to Twitter and other [entity id="section_76" style="padding: 1px; color: #fff; background: #336699;" class="forbes_entity" active="true" item_id="section_76" key="/social-media" display="Social Media" [...]

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IRS Begins Competency Test Scheduling

22 November 2011

The IRS is forging ahead as part of its master plan to increase oversight of tax preparers across the country. In addition to Preparer Tax Identification Number (PTIN) registration, the IRS will require certain paid tax preparers to pass a competency test by December 31, 2013. It’s the certain in the phrase “certain tax preparers” [...]

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Dear IRS: A Tax Pro Fires Back

18 November 2011

I guess desperate times call for desperate measures. You may have heard about the infamous Notice 4809 from IRS making the rounds among tax professionals. The Notice is part of the IRS’ “hands-on effort to improve the accuracy and quality of filed returns and to heighten awareness of preparer responsibilities.” In other words, dear taxpayers, [...]

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Change of EIN Email Scam Hitting Inboxes

9 November 2011

If you read the blog regularly, you are aware that there are a bunch of emails that pop up from time to time purporting to be from the IRS, asking you to click on all kinds of links or submit personal information. This sort of thing is a scam. That said, a reader sent me [...]

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IRS Offers Relief for Credit Card Reporting Requirements

1 November 2011

Panicked about those new form 1099-K (Merchant Card and Third Party Network Payments) requirements? Take a breath. The IRS has already figured out that things aren’t going terribly smoothly and is, as a result, offering “special transitional relief” for taxpayers and service providers. Contrary to some internet rumors, this isn’t the same as a free [...]

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