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Beware Common Tax Trap: Earned Income Tax Credit
One of the most recognizable taxpayer abuses leading to refund fraud stems from one of the most used tax credits, the Earned Income Tax Credit (EITC). Too often, many taxpayers wrongly claim a...
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You’re a Mean One, Mr…IRS?
You are not going to like this article; I will apologize in advance. The content herein is most likely everything that you do not want to hear and it is not for the faint-of-heart. However, that does...
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Surprise Holiday Present from the IRS
IRS Seeks to Pay Taxpayers. Show Me the Money! In an effort to try and return missed refunds to taxpayers, the IRS makes an annual announcement to come get your money. Currently, nearly 100,000...
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Year End Tax Planning Strategies
In the past couple of years, Congress made sweeping changes or last minute extensions to existing tax laws late in the year causing uncertainty as to how best to plan for the upcoming tax season. This...
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JK Harris Tax Resolution Firm Goes Under
Another one bites the dust! And another one down… Once advertised as the “nation’s largest tax resolution firm”, JK Harris closed their doors late on Thursday afternoon, December 29th (link to full...
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Emancipation Day & Weekend Extends the 2012 Tax Filing Season
Similar to calendar year 2011, April 15th, 2012 falls on a weekend – Sunday to be specific. The following Monday is Emancipation Day in the District of Columbia. Since D.C. holidays have the same...
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Bigger, Bader, Faster, Stronger! Filing Tax Returns Timely and Accurately...
The IRS announced yesterday that a second round table meeting will be held January 25th, 2012 to discuss the new Real-Time Tax System (RTTS). The first meeting, held on December 8th, 2011, consisted of...
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The IRS Owes Taxpayers One “B”illion Dollars
The IRS announced yesterday taxpayers are due an astonishing $1 Billion Dollars for tax year 2008. Yes, that is with a “B”. Reason being approximately 1,089,000 taxpayers failed to file a 2008 return...
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U.S. Trustee Forces Tax Masters to a Complete Halt
It may be a well-known fact by now that the once larger-than-life and controversial tax resolution company Tax Masters filed for Chapter 11 bankruptcy on March 18th, 2012, but new court records...
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Did the IRS Make it Easier to Settle Tax Debt?
On May 21st, the IRS announced a new initiative to their Fresh Start program that may allow more tax payers to qualify – in what they are calling ‘more flexible terms’ - for an Offer in Compromise...
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