Where’s my Refund?

Are you waiting for a federal tax refund? Be patient. Most taxpayers who e-file and choose direct deposit receive refunds they’re owed within 21 days. However, as a recent IRS Tax Tip explains, several things might delay it. These include errors, incomplete forms and identity theft. Also, if you require a correction to a Child […]

Waiting on a Tax Refund?

Waiting for a Tax Refund? 9 Biggest Reasons Why Your IRS Money Could Be Late – CNET https://cnet.co/38EGeXU

Offshore Insurance entities

In a recent report, the Government Accountability Office (GAO) assessed guidance from the IRS on complying with laws related to offshore insurance accounts. This included assessing the agency’s enforcement of noncompliance of offshore insurance-related entities, including micro-captive insurance tax shelters. “Tax evasion schemes involving offshore insurance are complex and resource-intensive for the IRS to pursue, […]

Collection Standards

The IRS Collection Financial Standards are revised annually and used in determining how much income delinquent taxpayers can keep to pay their bills (with the rest going toward settling their tax debt). Allowable living expenses include those expenses that meet the “necessary expense test.” This test is defined as expenses that are necessary to provide […]

Employee Leave at the IRS

The IRS needs to tighten the handling of its employees’ leave, according to the Treasury Inspector General for Tax Administration (TIGTA). TIGTA sampled 50 cases of IRS employees who requested sick leave for family care under the Family and Medical Leave Act (FMLA). Some controls worked well, but in 44 of those cases, procedures laid […]

Elon Musk’s Tax rate

No, Elon Musk Didn’t Pay a 3.27 Percent Tax Rate – Reason https://bit.ly/3EPVk8Y

Can the IRS disclose your personal information?

What can happen if the IRS discloses your personal information? It depends. In one case, a taxpayer involved in a collection due process hearing fired her representative and hired a new one. The IRS sent the determination to the fired rep, rather than her new one and then proceeded with collection activity against her. She […]

Need an Amended return?

The deadline to file 2021 tax returns is now in the rearview mirror for most people. But what if you owe tax and didn’t request a filing extension? You should file soon to limit interest and penalties. Here are some after-tax-day tips from the IRS: Make a full or partial payment online by debit or […]

Not-for-Profit deadline looms

Most tax-exempt organizations must file certain 2021 returns with the IRS by May 16, 2022. Last week, the IRS reminded calendar year not-for-profits of this deadline for submitting Forms 990, 990-N, 990-T and 4720 electronically. In fact, electronic filing is mandatory, generally through an IRS-authorized e-file provider. If organizations can’t meet the May 16 deadline, […]

Upgrade needed

The IRS desperately needs an IT upgrade. That, in a nutshell, was IRS Commissioner Charles Rettig’s recent message to a U.S. House subcommittee. As Rettig testified, the agency still uses some technology placed in service in the 1960s and 1970s. This means staffers can only slowly work their way through the IRS’s much-criticized backlog of […]