IRS Issues Extra Time, Statement On Boston Marathon Explosions (Updated)
The Internal Revenue Service has announced that they will be offering filing and payment extensions for those affected by the events that unfolded in Boston yesterday.
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IRS, States Offer Extra Time To File Taxes Due To April Storms
Ugh. There’s more snow in the forecast for parts of the country today. This, following reports of accumulations of more than a foot in parts of Minnesota and North Dakota with a particularly painful “up to 23 inches of snow reported in the Bismarck area.” In mid-April. Winter storms have been hammering much of the…
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Tax Day Remains April 15, 2013, Despite Holidays & Hopes For Extensions
As Tax Day creeps closer, I’ve been getting a slew of messages – on Twitter, email, and Facebook – hopeful that the big day will be pushed off a little bit more this year. Nope, not a chance. It’s true that tax season feels as though it’s rushing by faster than ever this year. That’s…
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IRS Issues List Of Dirty Dozen Tax Scams For 2013
Each year, the Internal Revenue Service issues a list of “Dirty Dozen” tax scams that can affect taxpayers. The list runs the gamut from schemes involving taxpayer participation (hiding offshore income) to schemes that taxpayers may know nothing about (identity theft). The IRS posts the list to educate taxpayers about the need to protect financial…
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Does The IRS Have Your Tax Refund?
It’s 2013. Do you know where your refund is? No, not your 2012 refund (arguably, no one knows where many of those are) but your 2009 refund. Nearly $1 billion in outstanding refunds remain unclaimed by an estimated 984,400 taxpayers who did not file a federal income tax return for 2009. How much is a…
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IRS, H&R Block Release Statements About Processing Delays
(Note: Updated to reflect Department of Education comments.) As anger continues to grow over delays with processing the federal form 8863, Education Credits, I reached out to the Internal Revenue Service, H&R Block, and the Department of Education to answer your questions. IRS spokesperson Michelle Eldridge offered the following statement about the delays: The IRS…
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Hundreds Of Thousands Of Taxpayers Thought To Be Impacted By Education Credit Snafu
Tax season is proving to be a major headache for taxpayers this season. And it looks like it’s not about to get better for hundreds of thousands of taxpayers who claimed the American Opportunity Credit or the Lifetime Learning Credit on their personal income tax returns. To claim the credit, taxpayers must file a federal…
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IRS Explains Delays In Processing Some Returns Claiming Education Credits
When the Internal Revenue Service finally announced that it was accepting federal form 8863, Education Credits (American Opportunity and Lifetime Learning Credits (downloads as a pdf), taxpayers heaved a sigh of relief. With a delayed tax season already in play, the additional two weeks pushed filing dates out more than three weeks for up to…
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IRS Now Accepting All Individual Returns
It’s official: 40 days after tax season was officially kicked off, the Internal Revenue Service has announced that it is now accepting all returns. No, that’s not a typo. 40 days. Tax season was originally slated to open on January 22, 2013, but due to the last-minute tax deal, opening day was delayed to January…
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IRS Won’t Delay Tax Season
You remember when you were little and you would keep checking the sky for snow clouds on the off chance that you got a snow day? Welcome to the grown-up version: checking the Internal Revenue Service (IRS) web site for sequestration news. But, like your mom, I’m going to give you the bad news, and…