Debit Cards for Social Security Benefits

The debit cards are targeted to the 4 million Social Security recipients who have no bank accounts. Social Security recipients electing to sign up for the debit program will receive a Master-Card debit card, which will be reloaded each month

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Posted in Social Security

Filing extensions changing for some business tax payers

Internal Revenue Service officials announced a change in the extended due date on certain business returns to help individuals better meet their filing obligations. The change, which reduces the extension period from six to five months, eases the burden on

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Posted in Extension

Advanced Earned Income Tax Credit

To receive part of the credit now with your pay, you must expect to have at least one qualifying child for the current year, expect to fall within certain income limits, and expect to meet certain other conditions. You cannot

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Posted in Earned Income Tax Credit

Gambling winnings and losses

Gambling winnings are fully taxable and must be reported on your tax return. You must file Form 1040 and include all of your winnings. Gambling income includes, among other things, winnings from lotteries, raffles, horse races, and casinos. It includes

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Posted in Gamble

Online Payment Agreement with IRS

The Internal Revenue Service introduced several new features to the interactive Online Payment Agreement application which will make it easier for taxpayers and their authorized representatives to make changes to existing installment agreements. The system will now permit: Individuals to

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Posted in Paying Taxes, Tax Guidance & Preparation

How to determine Business Income

Business Income, Gross Receipts or Sales If there is a connection between any income received and a business, the income is business income. A connection exists if it is clear that the payment of income would not have been made

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Posted in Business Income, Income, Taxable Income

Need help cutting through IRS red tape

In many cases, one of the best places to go is a little-known unit within the Internal Revenue Service known as the Taxpayer Advocate Service, or TAS, which has about 75 offices around the country. Its mission: to help taxpayers

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Posted in Tax Problems & Requests

IRS Payment Options Available

The Internal Revenue Service reminds taxpayers who owe but can’t pay in full that several options are available to help them meet their tax obligations. Taxpayers should file their return on time, pay as much as they can with their

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Posted in Paying Taxes, Tax Guidance & Preparation

Help from the Taxpayer Advocate Service

If you have tried to resolve tax problems with the IRS and are still having problems or facing economic harm, you have somewhere to turn: seek the free assistance of the Taxpayer Advocate Service. The Taxpayer Advocate Service is an

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Posted in IRS Appeal, IRS Audit, IRS Centralized Insolvency, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, IRS Transcript

Tax Appeal Rights

If you disagree with the IRS about the amount of your tax liability or about proposed collection actions, you have the right to ask the IRS Appeals Office to review your case. IRS Publication 1, Your Rights as a Taxpayer,

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Posted in Appeals & Audit Resolution, IRS Appeal, IRS Audit, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Tax Guidance & Preparation
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