News - John R. Dundon II, Enrolled Agent
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News

March 10, 2010

Most taxpayers have a choice of either taking a standard deduction or itemizing their deductions. If you have a choice, you can use the method that gives you the lowest tax. Whether to itemize deductions on your tax return depends on how much you spent on...

March 10, 2010

Video Owe Taxes But Can't Pay? English Unemployment Compensation: English Spanish Job Search Expenses: English Spanish ASL For these and other videos: YouTube/IRSVideos WASHINGTON — The Internal Revenue Service today announced several additional steps it is taking this tax season to help people having difficulties meeting...

March 9, 2010

The IRS wants taxpayers who pay state or local real estate taxes but don’t qualify to itemize their tax deductions, to know that they may qualify for an increased standard deduction. This is the last year that the higher standard deduction for real estate taxes...

March 9, 2010

TAX PREPARER PLEADS GUILTY TO FRAUD AND TAX EVASION NEWS RELEASE SUMMARY - March 8, 2010 United States Attorney Karen Hewitt announced that today tax return preparer David Canales pled guilty before United States District Court Judge Thomas J. Whelan to one count of mail fraud, in...

March 8, 2010

Did you pay someone to care for a child, spouse, or dependent last year? If so, you may be able to claim the Child and Dependent Care Credit on your federal income tax return. Below are the top 10 things the IRS wants you to...

March 8, 2010

The Child Tax Credit is a valuable credit that can significantly reduce your tax liability. Here are 10 important facts from the IRS about this credit and how it may benefit your family. Amount - With the Child Tax Credit, you may be able to reduce...

March 4, 2010

If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt...

March 4, 2010

In July 2000, the IRS, in conjunction with the Department of the Treasury, Financial Management Service (FMS), started the Federal Payment Levy Program (FPLP) which is authorized by Internal Revenue Code Section 6331 (h), as prescribed by the Taxpayer Relief Act of 1997 Section 1024....

March 4, 2010

The IRS has uncovered a number of schemes that claim to allow deductions for personal living expenses. Taxpayers should consider these points before investing in a possible abusive scheme: Any investment scheme or promotion that claims to allow a federal income tax deduction for normal personal...

March 3, 2010

When a house is foreclosed upon by the bank, the owners typically receive Form 1099-A from the lender showing several pieces of relevant information. The information on Form 1099-A will likely be needed to report the foreclosure properly on your tax return. A foreclosure is...

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