IRS Email Scam Alert
We have been made aware of an email being sent around allegedly from the IRS. This is a fraud and an attempt at ID theft. The IRS will never email you asking for your social security number or any bank…
IRS Will Close to Public for Five Days under Furlough Plan
(Bloomberg) The Internal Revenue Service will close all of its public operations on five days from now through August because of employee furloughs, IRS Acting Commissioner Steven T. Miller told employees in a memo Friday. The tax agency will be…
IRS Names Dirty Dozen Tax Scams of 2013
The Internal Revenue Service has released its annual “Dirty Dozen” list of tax scams, advising taxpayers to be aware of identity theft, phishing scams and several other red flags that can cause financial mayhem. Granted, tax fraud can strike any…
How to Weed Out a Good Financial Advisor From the Bad
We're often looking for articles that describe perfectly our sentiments on various topics. This one in particular sorts out the good, the bad about financial advisors. By Aaron Shepherd Recently, I've been looking at the pros and cons of working…
Your Tax Refund: It’s Not in The Mail
Just an FYI to our loyal clients: A software glitch caused more than 600,000 2012 tax returns to be filed incorrectly, delaying refunds by as long as six weeks, the Internal Revenue Service said. H&R Block, the nations's largest tax…
Outright Adds Mileage Tracking and Receipt Capture to iPhone App
Via the great By Seth Fineberg Free online bookkeeping and tax software maker Outwright.com is offering a new version of its mobile iPhone app with automated gas mileage tracking and receipt picture saving and storing capabilities. With the new gas mileage…
Accountable Plans Explained
A recent article from the IRS helps us better understand what an "Accountable Plan" really is. Check this out. Definition: An accountable plan is an employee reimbursement allowance arrangement or a method for reimbursing employees for business travel expenses that complies with IRS…
IRS Warns of Problems with Education Credit Filings
From Accounting Today: By Michael Cohn The Internal Revenue Service said Wednesday that it has observed problems with the filings for education tax credits that could be delaying processing of the tax returns. “We have observed instances in which the Form…
7 Tips for Getting the Most Out of Volunteering
By Joanne Fritz, About.com Guide Do you volunteer? If so, congratulations! Volunteerism is one of the most cherished of American values. You are one of the nearly 62.8 million Americans who volunteer every year, and the worth of your volunteer…
What Is The First Step Of A 1031 Tax Deferred Exchange?
Confused about the wide world of 1031 Tax Deferred property exchanges? This article from ExchangeSmart.com lays it out for you. WHAT'S THE FIRST STEP? Always discuss a §1031 tax deferred exchange with your tax and/or legal advisors. Call Asset Preservation…
7 New Social Security Rules for 2013
Taking social security? Emily Brandon of US News and World Report shares the changes that have arrived in 2013 in this very informative article. By Emily Brandon | U.S.News & World Report LP The Social Security Administration has implemented a…
IRS Offers Advice for Coping with Delayed Tax Season
The Internal Revenue Service provided advice to taxpayers Wednesday on dealing with the late opening of tax season on January 30 that could also prove helpful to tax preparers. For the first time this tax season, the "Where's My Refund?"…
IRS Steps Up Enforcement and Audits of High-Income Taxpayers
Making millions? Be ready for an audit--check out this article we found in Accounting Today by Michael Cohn. By Michael Cohn, As seen in Accounting Today The Internal Revenue Service reported that audits of individuals topped 1 million in fiscal…
What to Bring to Your Tax Prep Appointment
By Charles Green, eHow Contributor You can help your tax preparer by bringing the required information with you. If you plan to have an accountant or tax preparing professional handle your taxes this year, you need to bring with you…
It’s here: Form 1099-K
By Jim Buttonow: As seen in the Accounting Today Newsletter The internal Revenue Service has always been able to match individual returns against information statements and propose under-reporter adjustments that come in the form of CP2000 notices. But things are…
