The latest straight from the IRS — new rules, deadlines, guidance, and announcements explained in plain English.
For as long as I’ve been banging away on the keyboard about tax and tax policy, I don’t believe I’ve seen anything more polarizing than the “new” health care act which was signed into law last year. From the so-called Cadillac plans to the increased 1099 reporting requirements, no single piece of legislation has generated…
The IRS has announced that it is accepting applications for the Internal Revenue Service Advisory Council (IRSAC). IRSAC is comprised of up to 35 members who are appointed to three year terms by the Commissioner (currently, that’s Doug Shulman). The Council provides a public forum for IRS officials and the public to discuss relevant issues…
Did you get up this morning in a panic, trying to figure out how you’re going to make it to the post office to mail your taxes? Relax, it’s not Tax Day. Yeah, it’s usually Tax Day today – but not this year. This year, Tax Day fell on Emancipation Day, which just so happens…
On Wednesday, April 6, 2011, IRS Commissioner addressed the National Press Club. Follows is the text of his prepared remarks, as distributed by IRS: Thank you for that gracious welcome… and thank you for inviting me back to the National Press Club. A few weeks back, I celebrated my third year as IRS Commissioner. And…
A reader was browsing the internet the other day and sent me this hopeful email: CNN is reporting that the government might shut down because of the budget. Does that mean we’ll get some extra time to file our taxes? (Fingers crossed) Sorry. Might as well uncross those fingers now… No matter what happens with…
The IRS has announced that federal form 8939, Allocation of Increase in Basis for Property Acquired from a Decedent, is not due on April 18, 2011 and should not be filed with the final federal form 1040 of persons who died in 2010. Of course, if you’ve tried to file a federal form 8939, you…
I just wanted to remind my readers that select IRS offices will be open tomorrow. Offices staffed by IRS will be open on Saturday, March 26, from 9 a.m. to 2 p.m. local time. You can find an office near you on the IRS web site. IRS Commish Doug Shulman has been talking up the…
VITA is the acronym for the IRS Volunteer Income Tax Assistance Program which provides free tax help for qualifying taxpayers across the country. The program began in 1969 and has since grown into a popular program: last year, there were over 12,000 VITA sites across the country. VITA volunteers receive training to prepare basic tax…
Yes, really. The IRS is looking for folks to volunteer to serve on the Taxpayer Advocacy Panel (TAP) for a three year term starting in December 2011. TAP is a federal advisory committee that listens to taxpayers, identifies key issues and makes recommendations for improving IRS service. The TAP provides an annual report to the…
Every year about this time, I get emails asking, more or less, what happens when you lie on your tax return to get a refund. There are the obvious answers… penalties, interest and depending on the severity, possible criminal prosecution. But there’s a lesser known potential consequence: having your return flagged as part of the…