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Dear Taxpayer,
Below are a variety of articles that useful and informative to all taxpayers.
We have also arranged for you to download the IRS publication 17, a 319 page booklet designed for ordinary taxpayers who wish to prepare their own tax returns. Changes for the current tax year are usually found on the first 5 pages.
You can also look up almost any tax question by checking the index found at the very beginning of Publication 17. If after exploring Publication 17, you feel you need us, please contact us immediately. WE CAN HELP YOU!
| IRS Will Send Stimulus Payments Automatically Starting in May; Eligible Taxpayers Must File a 2007 Tax Return to Receive Rebate |
The Internal Revenue Service today advised taxpayers that in most cases they will not have to do anything extra this year to get the economic stimulus payments beginning in May.
“If you are eligible for a payment, all you have to do is file a 2007 tax return and the IRS will do the rest,” said Acting IRS Commissioner Linda Stiff.
The IRS will use information on the 2007 tax return filed by the taxpayer to determine eligibility and calculate the amount of the stimulus payments.
The IRS will begin sending taxpayers their payments in early May after the current tax season concludes.
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The Full Story
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| I.R.S.
Audit May Be Cheaper Than Its Advice |
Want to ask the Internal
Revenue Service whether a wrinkle in rolling money from
your 401(k) plan into another retirement account may result
in additional taxes? Well, don't delay asking or it will
cost you a lot more. The I.R.S. charged $95 last year to
rule in advance on unusual rollovers to individual retirement
accounts, or I.R.A.'s. The new fees range from $500 to $3,000.For
the top fee, the increase is
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The Full Story
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| Web bugs may break state
law, Online Filers Beware! |
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Looks like potential
privacy violations aren't the only problem with the use
of so-called Web bugs to track people's actions as they
file online tax returns. They might also be illegal.
As I wrote last week, Web bugs, or Web beacons, are a
technology used by Intuit's TurboTax and H&R Block
to monitor users' comings and goings during the electronic
filing process.
Hidden Web bugs on an Internet site essentially
Read
The Full Story |
| Report
Says Bush’s Tax Cuts Will Cause Some
To Pay More |
Over the next 10 years,
Americans will not receive nearly $750 billion in
tax cuts sponsored by President Bush because the cuts will
be offset alternative minimum tax, a new report by Congressional
tax specialists shows. The report, prepared by the staff
of the Congressional Joint Committee on Taxation, said that
from 2006 to 2015, Americans would pay as much as 1.1 trillion
more under the alternative minimum tax, partly as a result
of the Bush tax cuts
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The Full Story
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| Hmmm. What’s This
Alternative Tax? Hey, Wait! Ouch! |
Do House Republicans
harbor some sort of deep rage against moderately affluent
families with lots of children?
Maybe not, but take a close look at the $56 billion package
of tax cuts that House leaders hope to pass
before Christmas, and you have to wonder. If it were to
become law, any family with two or more children and an
income of $100,000 ought to run for the hills
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The Full Story
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| IRS Has $110 Million in Refund Checks Looking for a Home |
The Internal Revenue Service is looking for 115,478 taxpayers who are due refund checks worth about $110 million after the checks were returned as undeliverable. |
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Be patient downloading. This is a
very helpful IRS publication.
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(This program is needed to view and print tax forms) |
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