Tax Returns Yield Fewer Mistakes
Analysis by the Internal Revenue Service indicates that the error rate for individual tax returns has been cut by more than half. Last year, the IRS identified ...…
Can the IRS Handle Online Filing Traffic?
When taxes fall due on April 15, there is a very real question about how well the Internal Revenue Services – and more to the point, its servers – will be able to handle the traffic.…
The Boomerang Effect
The number of unemployed college graduates who move back in with their parents (or other family members) might be a little surprising.…
Reduce Stress Now
Tax professionals are no strangers to stress. Here are a few suggestions to help you deal with the stress of tax season.Don’t over-extend yourself. By now, you’ve undoubtedly noticed time doesn’t…
8 Places Germs Love in Your Life
It’s fairly common knowledge that the main cause of illness is the dreaded germ. But avoiding germs completely is impossible...…
Don’t Get Caught Short on Short Sales
After the real estate crash, many taxpayers' mortgages exceeded the value of their properties, so they did a short sale or went through a foreclosure. Many of these taxpayers received...…
Don’t Overlook Education Related Tax Benefits
Taxpayers who pay qualifying expenses for a student can be eligible for the American opportunity tax credit, lifetime learning credit, or the tuition and fees deduction...…
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Relief Available To Many Extension Requesters Claiming Tax Benefits
WASHINGTON —The Internal Revenue Service today provided late-payment penalty relief to individuals and businesses requesting a tax-filing extension because they are attaching to their returns any of the forms that couldn’t be filed until after January.…
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AMT: The Oxymoron
The concept of the alternative minimum tax is anything but minimum. The complex tax code in America originally enacted the AMT in 1969 as a way to keep high-income taxpayers from ...…
IRS Files Intent to Appeal Recent Ruling
A recent lawsuit arguing the IRS lacks the authority to require tax preparers to pass a competency exam and take continuing education courses brought the IRS’s RTRP (Registered Tax Return Preparer) program to a screeching halt when the federal court judge agreed and issued a ruling that voided the RTRP process. But the IRS is not accepting the ruling ...…
