The latest straight from the IRS — new rules, deadlines, guidance, and announcements explained in plain English.
The last couple of tax seasons have been tough for many taxpayers trying to utilize popular refund anticipation loans (RALs). With banks increasingly unwilling to provide loans for third-party preparers, the potential pool of money available to folks seeking RALs was pretty limited. This made taxpayers unhappy. It made the IRS fairly happy. They, like…
Smaller charities, meaning those that have annual gross receipts of less than $25,000, may be at risk this year of losing their tax-exempt status. Under a 2006 law, those charities were required to file a form 990-N (sometimes called an e-postcard) with IRS each year. Failing to file for three years in a row results…
The upside of a down economy: as Congress puts more emphasis on tax collections, the Internal Revenue Service (IRS) needs more workers. Voila. Increased employment. And no need to worry about expensive promotional materials or classified ads that might get overlooked. The IRS has gone all modern on us, using YouTube as a recruiting tool….
Last week, the Internal Revenue Service began accepting applications for the Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) grant programs, which will allow some organizations to apply for annual funding for up to three years. Applications will be accepted June 1, 2010, through July 9, 2010. Previous grant recipients will…
The IRS will open approximately two hundred IRS Taxpayer Assistance Centers across the country today to provide help to individual taxpayers dealing with notices and payments, return preparation and a variety of other tax issues. Each office will be open from 9:00 a.m. until 2:00 p.m. local time. To find a center near you, click…
On Saturday, June 5, approximately 200 IRS Taxpayer Assistance Centers will host an open house to provide help to individual taxpayers dealing with notices and payments, return preparation and a variety of other tax issues. Each office will be open from 9:00 a.m. until 2:00 p.m. local time. Click here for a list of participating…
IRS Commissioner Doug Shulman has issued the following statement about charities who have not yet filed their forms 990-N: Now that the May 17 filing deadline has passed, it appears that many small tax-exempt organizations have not filed the required information return in time. These organizations are vital to communities across the United States, and…
Years ago, small tax exempt organizations had it easy. So long as they raised less than $25,000 in a calendar year, they general didn’t have to file an informational return with IRS. Easy. That all changed in 2006. The Pension Protection Act of 2006 made it mandatory for most tax-exempt organizations to file an annual…
No, really, they do. The IRS has announced that it is accepting applications for new members for the Internal Revenue Service Advisory Council (IRSAC). According to the IRS’ press release, the purpose of the council is to provide “a forum for IRS officials to discuss key areas of tax administration with a broad range of…
This week, the internet is abuzz about a provision included in The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act that expands reporting requirements related to forms 1099. As per usual, there’s some good information out there and some bad… Let’s see if we can’t sift through it. The…