IRS Warns Taxpayers to Beware of First-Time Homebuyer Credit Fraud
(EMAILWIRE.COM, July 30, 2009 ) WASHINGTON — The Internal Revenue Service today announced its first successful prosecution related to fraud involving the first-time homebuyer credit and warned taxpayers to beware of this type of scheme. On Thursday July 23, 2009, a Jacksonville, Fla.-tax preparer,... more
Special Tax Break on New Car Purchases Available in States With No Sales Tax
(EMAILWIRE.COM, June 11, 2009 ) WASHINGTON —The Internal Revenue Service and Treasury Department today announced that a tax break for the purchase of new motor vehicles is available in states that do not have a state sales tax. Under the American Recovery and Reinvestment Act of 2009, taxpayers who... more
IRS Clarifies Requirement for Filing FBAR Form Due This Month
(EMAILWIRE.COM, June 06, 2009 ) WASHINGTON — Internal Revenue Service officials announced today that they would allow taxpayers to rely on the definition of a United States person as set forth in the prior instructions to the FBAR form when determining their filing requirement. This announcement... more
IRS Launches Tax Return Preparer Review; Recommendations to Improve Compliance Expected by Year End
(EMAILWIRE.COM, June 05, 2009 ) WASHINGTON — IRS Commissioner Doug Shulman announced today that by the end of 2009, he will propose a comprehensive set of recommendations to help the Internal Revenue Service better leverage the tax return preparer community with the twin goals of increasing taxpayer... more
Interest Rates Remain the Same for the Third Quarter of 2009
(EMAILWIRE.COM, May 29, 2009 ) WASHINGTON — The Internal Revenue Service today announced that interest rates for the calendar quarter beginning July 1, 2009, will remain the same. The rates will be: four (4) percent for overpayments [three (3) percent in the case of a corporation]; four (4)... more
IRS Offers Tax Credit Guidance to Businesses Hiring Unemployed Veterans and Certain Youth
(EMAILWIRE.COM, May 29, 2009 ) WASHINGTON — Businesses planning to claim the newly-expanded work opportunity tax credit (WOTC) for eligible unemployed veterans and unskilled younger workers hired during the first part of 2009 have until Aug. 17 to request the certification required for these workers,... more
Beware of IRS’ 2009 'Dirty Dozen' Tax Scams
(EMAILWIRE.COM, April 14, 2009 ) WASHINGTON — The Internal Revenue Service today issued its 2009 “dirty dozen” list of tax scams, including schemes involving phishing, hiding income offshore and false claims for refunds. “Taxpayers should be wary of scams to avoid paying taxes that seem too good... more
IRS Offers Tax Payment Options
(EMAILWIRE.COM, April 10, 2009 ) WASHINGTON — The Internal Revenue Service today reminded taxpayers to file their federal tax returns and pay any taxes they owe by the April 15 deadline. Aware that the economic downturn has affected many people, the agency urged taxpayers in difficult financial... more
Visits to IRS.gov Up Sharply as Taxpayers Go Online to Get Tax Information
(EMAILWIRE.COM, April 01, 2009 ) WASHINGTON — The number of visitors to IRS.gov is up more than 24 percent compared with last year, and more taxpayers rely on the Internal Revenue Service’s online resources to get answers to tax questions on the economic recovery legislation and to prepare and file... more
Special Tax Break Available for New Car Purchases This Year
(EMAILWIRE.COM, April 01, 2009 ) WASHINGTON — The Internal Revenue Service announced today that taxpayers who buy a new passenger vehicle this year may be entitled to deduct state and local sales and excise taxes paid on the purchase on their 2009 tax returns next year. “For those thinking about... more
First $2,400 of Unemployment Benefits Tax Free for 2009
(EMAILWIRE.COM, March 27, 2009 ) WASHINGTON — All or part of unemployment benefits received in 2009 will be tax free for many unemployed workers, according to the Internal Revenue Service. “This morning we learned that a record 5.6 million people were receiving unemployment benefits in the middle... more
IRS Seeks Volunteers for Taxpayer Advocacy Panel
(EMAILWIRE.COM, March 25, 2009 ) WASHINGTON — The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), which listens to taxpayers, identifies key issues and makes recommendations for improving IRS service. “TAP members are your friends and neighbors,... more
First-Time Homebuyers Have Several Options to Maximize New Tax Credit
(EMAILWIRE.COM, March 19, 2009 ) WASHINGTON — As part of the Treasury Department’s consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal... more
IRS Eliminates Inserts Related to Business Mailing
(EMAILWIRE.COM, March 14, 2009 ) WASHINGTON — In an effort to improve its communications with taxpayers, the Internal Revenue Service will eliminate the nearly dozen inserts that go into a notice informing businesses that they owe additional tax. The change to the CP 161 notice, which is mailed... more
Filing Tax Returns from Home Computers Up 20 Percent in 2009
(EMAILWIRE.COM, March 14, 2009 ) WASHINGTON — Taxpayers are e-filing their Federal income tax returns from their home computers in record numbers this year the IRS announced today. As of March 6, more than 18 million income tax returns were filed from home computers, up 20 percent compared to the... more
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