The Supreme Court’s decision to uphold most of Barack Obama’s health care law will begin affecting most taxpayers in about 2½ years, when they’ll have to start providing proof on their tax returns that they have health insurance. This puts the IRS at the center of the debate, raising questions about whether they can of [...]
Read More 2014 tax year, 2016 penalty, american indian tribe exempt, Barak Obama's health care law, Congressional Budget Office, Health Care, health insurance, House Ways, Income Tax Planning, Income Tax Preparation, IRS, IRS Audit, IRS Letters, IRS requirements, low income exempt, Means Committee Republicans, New Requirements, religious beliefs exempt, Supreme Court, Tallahassee Tax Service, TallyTaxMan, tax breaks, tax return proofFederal law requires the National Taxpayer Advocate to submit an Annual Report to Congress that identifies at least 20 of the most serious problems encountered by taxpayers and makes administrative and legislative recommendations to mitigate those problems. Overall, this year’s report identifies 22 problems, provides updates on four previously identified issues, makes dozens of recommendations [...]
Read More 100 year history of the US Tax System, automated procedures, federal tax return preparers, Income Tax Planning, Income Tax Preparation, irs authorized to issue refunds in hardship cases, IRS requirements, offshore voluntary disclosure program, personal information of decedents, Tallahassee Tax Service, TallyTaxMan, tax liens, Tax Payer Advocate, traditional taxpayer audit rightsIn light of the IRS’ unique role as the federal revenue collector, the National Taxpayer Advocate recommends that Congress develop new budget procedures designed to fund the IRS at a level that will enable it to meet taxpayer needs and maximize tax compliance, with due regard for protecting taxpayer rights and minimizing taxpayer burden. The [...]
Read More Income Tax Planning, Income Tax Preparation, IRS requirements, Tallahassee Tax Service, TallyTaxMan, taxpayer bill of rights, taxpayer responsibilities, taxpayer rightsThe IRS has persuaded U.S. taxpayers to disclose hidden offshore bank accounts but then sometimes failed to cap the penalties, as promised, an agency watchdog has said, accusing the government of “bait and switch.” The Taxpayer Advocate Service, an oversight arm of the IRS, wrote in its annual report to Congress that a series of [...]
Read More bait and switch, hidden accounts, Income Tax Planning, Income Tax Preparation, IRS Penalty, IRS requirements, IRS voluntary disclosure programs, offshore bank account, reduced penalties, Swiss Bank, Tallahassee Tax Service, Tally Tax Man, TallyTaxMan, Tax EvasionThe IRS audit rate for individual returns filed in fiscal year 2010 was 1.1 percent, according to statistics released by the agency in 2011 (IR-2011-27). This represented approximately 1.6 million returns out of the approximately 143 million returns filed by individuals. The audit rate for individual returns with positive income of $1 million or more [...]
Read More Income Tax Planning, Income Tax Preparation, IRS Audit, IRS Letters, IRS requirements, Tallahassee Tax Service, TallyTaxManThe IRS has announced it holds $153 million in undelivered refund checks owed to nearly 100,000 taxpayers, representing an average of $1,547 per taxpayer (IRS News Release IR-2011-113). The IRS has been unable to deliver the refunds due to mailing address errors. Taxpayers who wish to check the status of their refund and/or resolve an [...]
Read More Income Tax Planning, Income Tax Preparation, Income Tax Refunds, IRS requirements, Tallahassee Tax Service, TallyTaxMan, Undelivered RefundsMark D. Leitner was sentenced to 30 months in prison after pleading guilty in July to filing false liens against federal law enforcement employees and corruptly endeavoring to impede and impair the Internal Revenue Service (IRS), the Justice Department announced. Northern District of Florida Senior District Court Judge Lacey A. Collier presided over the hearing [...]
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