From the Internal Revenue Service: Ten Facts about Amended Tax Returns Did you discover that you made a mistake after you filed your federal tax return? You can make it right by filing an amended tax return. Here are the top ten things to know about filing an amended tax return. 1. Use Form 1040X, Amended U.S. Individual Income Tax Return, to correct errors on your tax ...

Settlement with an Offer in Compromise If you owe money to the IRS, you may be able to reach an Offer in Compromise (OIC) to pay the money that you owe. An OIC provides a way to have a large portion of your tax debt forgiven. You must agree to pay a smaller amount in a timely fashion. Both the amount and the time is agreed upon by both you and the IRS. You may be able to ...

From the IRS: Eight Common Tax Mistakes to Avoid The Internal Revenue Service offers these following tips to avoid income tax return errors. We all make mistakes. But if you make a mistake on your tax return, the IRS may need to contact you to correct it. That will delay your refund. You can avoid most tax return errors by using IRS e-file. People who do their taxes on ...

From the Internal Revenue Service: Time is Expiring to Claim $760 Million in Refunds for 2010 Tax Returns If you did not file a tax return for 2010, you may be one of over 900,000 taxpayers who may be due a refund from that year. If you are, you must claim your share of almost $760 million by the April 15 tax deadline. To claim your refund, you must file a 2010 federal ...

Tips on Deducting Charitable Contributions If you are looking for a tax deduction, giving to charity can be a ‘win-win’ situation. It’s good for them and good for you. Here are eight things you should know about deducting your gifts to charity: 1. You must donate to a qualified charity if you want to deduct the gift. You can’t deduct gifts to ...

How to Avoid Identity Theft with your Income Tax Return The IRS reports that cyber-crimes often occur with tax returns. Cyber thieves are crafty and their numbers are increasing. Here are seven ways you can avoid identity theft. 1. File as early as possible. Once a return has been filed and it is associated with a specific social security number, the IRS ...

Tax Season Has Begun with the IRS sending out valuable information and videos on U Tube! IRS Kicks Off 2014 Tax Season; Individual Returns Can Be Filed Now; Free Online Services Available to Help With Filing, Refunds, EITC IRS YouTube Videos: Do It Yourself Free Tax Preparation: When Will I Get My Refund?: IRS Social Media: WASHINGTON — The Internal ...

BEWARE of Phishing Scams and Email Fraud! Recently, a client received a fairly official looking email from what appeared to be the IRS. Upon closer inspection, it was not from the IRS at all. Instead, it was a bogus notice fraudulently posing as the Internal Revenue Service. The attempt was to acquire social security numbers and personal financial information. NOTE: The ...

IRS Delays Processing of 2013 Taxes The Internal Revenue Service (IRS) announced that due to the 16-day government shutdown, they will begin processing tax returns one- to two-weeks later than planned. The original start date was January 21, 2014. With this delay, the tax season could begin no earlier than January 28 or as late as February 4, 2014. The IRS will not ...

The IRS reminds taxpayers who turned 70-1/2 during 2012 that, in most cases, they must start receiving required minimum distributions (RMD) from individual retirement accounts (IRA) and workplace retirement plans by Monday, April 1, 2013. The April 1 deadline applies to owners of traditional IRAs but not Roth IRAs. Normally, it also applies to participants in various ...