Surviving Tax Season: It’s Not Over Yet
With a few weeks to go before tax returns are due for those individuals on extension, tax professionals are already looking forward to the season being over. But who’s to blame for the mess this year?
-
-
Dead Men Tell No Tales: Deceased Russian Lawyer Found Guilty Of Tax Evasion
A Moscow court has ruled Hermitage Capital Management founder William Browder and his tax advisor and lawyer, Sergei Magnitsky, guilty of tax fraud. Magnitsky was found guilty posthumously; he died in prison nearly four years ago. Browder was found guilty in absentia after being forced from the country in 2006.
-
June: A Busy Month At IRS For Taxpayers & Tax Pros
We tend to think of summer as a slow time when it comes to taxes but it’s hardly a vacation for taxpayers and tax professionals. This summer, in particular, the Internal Revenue Service has a full calendar and June is no exception. Here are some notable dates to keep in mind: June 3. The IRS…
-
Will She Or Won’t She? D.C. Holds Breath As IRS Official Is Called Back To Testify After (Possibly) Pleading The Fifth
It’s no surprise that Rep. Darrell Issa (R-CA), Chair of the House Oversight and Government Reform Committee, would recall Lois Lerner, Director of the Exempt Organizations Division at the Internal Revenue Service. He advised as much on yesterday when Lerner possibly (keep reading!) pleaded the Fifth rather than testify at a Congressional hearing into allegations…
-
H&R Block Offers Apology, Cash To Make Up For Filing Snafu
If you were one of the hundreds of thousands of taxpayers affected by the tax season filing snafu involving education credits – and you filed using H&R Block – you might be getting some relief. The tax preparation giant is offering $25 to its customers affected by the delay in processing individual tax returns claiming…
-
Temporary TurboTax Glitch Stresses Out Last Minute Tax Filers
When it rains, it pours. In the midst of an already tense tax season, taxpayers had a brief moment of worry last night when the online system for TurboTax appeared to melt down. After a few error messages, some angry tweeting, and a little hyperventilating, things returned to normal. So what happened? According to Julie…
-
H&R Block CEO Offers Apology For Education Credit Fiasco
As tax season heads towards the home stretch, hundreds of thousands of taxpayer refunds have been delayed. While taxpayers expected minor glitches associated with a late start to the tax season, the magnitude of the delays, especially those involving the form 8863 for education credits, took the tax world by storm. Angry taxpayers have been…
-
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…
-
A Beginner’s Guide To Taxes: Can I Do My Return Myself?
For those of you who don’t hang out with me in real life, here’s stuff you might not know: I bake my own bread. I pickle my own vegetables. I make my kids’ Halloween costumes. I can code a little. But I do not do my own taxes. I used to do my own returns…
-
Taxpayer Alleges IRS Agent Offered Sex In Exchange For Lower Tax Penalties On Audit
Talk about some serious negotiations. A 40-year-old man out of Fall Creek, Oregon, has filed a federal lawsuit against the IRS, alleging that she used her, um, position to sexually harass and intimidate him. The man, Vincent Burroughs, filed the lawsuit on January 25, 2013, against the IRS and Internal Revenue Service agent, Dora Abrahamson….