Wednesday, May 15, 2013
The agency apologized last week for automatically sending Tea Party and similar groups through multiple hoops before the 2012 election.
President Obama this week said efforts by IRS employees to target new conservative groups for extra scrutiny were "outrageous," echoing many administration critics who charged that the measures were politically motivated. "I have got no patience with it, I will not tolerate it, and we will make sure that we find out exactly what happened on this," Obama said in a news conference Monday. The Wall Street Journal reported that an Inspector General's report concludes there was widespread targeting of conservative-linked groups for aggressive questioning, but that no one outside the IRS was involved in establishing the practice. (The report was released Tuesday.) Former IRS Commissioner Douglas Shulman, an appointee of President George W. Bush…
Thursday, April 11, 2013
Would you be comfortable having the IRS as a Facebook friend? Or maybe even a friend of a friend?
As procrastinators rush to file their tax returns before Monday's deadline, reports surfaced that the Internal Revenue Service could use social media sites, such as Facebook and Twitter, to check up on tax cheats. Mediabistro.com shared a report that the IRS will be checking into individual Facebook and Twitter accounts for improprieties. The report does say that, according to the IRS, it would only be in cases where a tax form raises a red flag. It is not clear, though, just how far into social media sites the agency intends to go. However, it might not be a good idea to display your Caribbean vacation photographs on your Facebook page if you've reported a big loss on your tax return. Social media sites have already contributed to the …
The Internal Revenue Service says taxpayers who need more time to file don't need to panic.
Can't file your tax returns by the Monday, April 15 deadline? Extensions are available. Those who haven't finished completing their returns can get an automatic six-month extension. The fastest and easiest way to get the extra time, the IRS says, is through this Free File link — use the free service to electronically request an automatic tax-filing extension on Form 4868. Filing this form gives taxpayers until Oct. 15 to file a return and allows individuals to avoid a late-filing penalty. To get the extension, you must estimate your tax liability and also pay any amount due. Can't pay the full amount you owe the government? Click here to find out about setting up payments. You might also be interested in reading: Subscribe to Barrow …
Thursday, February 28, 2013
From shopping around for the highest refund to failing to tell your tax preparer about life changes that could affect your taxes, a CPA shares the most common tax mistakes.
Thursday, February 28
Looking for tax professional in Barrow County? Click here to access the Barrow Patch Directory for businesses offering financial services. DailyFinance has asked Certified Public Accountant Gary Craig to outline some of the most common tax mistakes to help taxpayers avoid making them. Click here to read the full story, and here's an overview of the mistakes you could be making: You might also be interested in reading: Subscribe to Barrow Patch’s newsletters, follow us on Twitter and “like” us on Facebook.
Saturday, February 16, 2013
If you qualify for an exemption, that amount can be deducted from your gross income to calculate your taxable income.
Saturday, February 16
According to a DailyFinance report, exemptions are some of the most uncomplicated parts of filing taxes. Exemptions work in a similar way as deductions by reducing the amount of income on which you are taxed. When filing your 2012 tax returns, for each exemption you take, you can deduct $3,800 from your gross income to determine at your taxable income. Taxpayers are allowed to take exemptions for themselves, their spouses and their dependents. Read more about exemptions and find out if you are eligible to take them. Check out an article on imaginative tax breaks that have been approved by the Internal Revenue Service, including deductions on the cost of oils for a professional bodybuilder, breast implants considered a stage prop and a …
Thursday, February 14, 2013
The Internal Revenue Service reports experiencing high traffic on its online “Where's My Refund?” tool.
Thursday, February 14
Looking for tax professional in Barrow County? Click here to access the Barrow Patch Directory for businesses offering financial services. The deadline to file tax returns isn't until April but taxpayers appear to be filing early and are already asking, Where's my refund?" “Due to the large number of inquiries and to avoid service disruptions, the IRS strongly urges taxpayers to only check on their refunds once a day,” the IRS said, according to a report by Accounting Today. “IRS systems are only updated once a day, usually overnight, and the same information is available whether on the Internet, IRS2go smartphone app or on IRS toll-free lines. While 'Where's My Refund?' is updated nightly, your account will not change that frequently.” …
Sunday, January 13, 2013
It's tax time again in Barrow County and elsewhere.
Sunday, January 13
On Friday, the Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41. If you have tax questions and need an expert, use the Barrow Patch directory to locate a CPA or Tax Service near you. Subscribe to Barrow Patch’s newsletters, follow us on …
Thursday, October 4, 2012
Rebecca Mercer, a former IRS employee, stole more than $50,000 from the National Treasury Employees Union, according the U.S. Justice Department.
Thursday, October 4, 2012
A Statham woman was sentenced in federal court in Atlanta on Wednesday for stealing more than $50,000 from the National Treasury Employees Union, according to a news release from the U.S. Department of Justice. Rebecca Mercer, 40, a former IRS employee and former treasurer of the local NTEU chapter, was sentenced to 1 year and 1 month in prison to be followed by 3 years of supervised release, and ordered to pay restitution of $52,822.22, the release says. Mercer was convicted on June 20, 2012. The release says that Mercer, while working as a tax examining technician in Atlanta and serving as treasurer of NTEU Chapter 284, used the group's credit card to make at least 169 unauthorized personal purchases and withdrawls between July 2006 and …
Monday, July 2, 2012
It is easy to stir the emotions of a crowd when talking about taxes, but trying to understand the monster of the tax system in our nation is near to impossible.
Many people live constantly in opposition to all taxes.We are taxed every time we turn around and sometimes in mid-turn. We are taxed enough already, many people believe. Everywhere I go speaking to various groups of citizens during this election cycle, the issue of taxes always comes up in the question and answer time. Several years ago, I hosted a talk show on local radio. Often a friend of mine would drop by the station to express his opinions about the topics under discussion. However, I was not able to keep the radio show going due to allergic reactions to the treatments for my cancer. My friend moved somewhere up north and I seldom hear from him, until last week when he stopped by for a visit on his way to Florida for vacation. He is…