News - John R. Dundon II, Enrolled Agent
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News

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 revise their payment due dates and/or...

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 if the business did not exist...

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 resolve problems with the IRS --...

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 return and use www.IRS.gov if they...

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 independent organization within the IRS...

The IRS usually corrects math errors or requests missing forms – such as W-2s or schedules – when processing an original return. In these instances, do not amend your return. However, you should file an amended return if any of the following were reported incorrectly: Your...

If you file a complete and accurate paper tax return, your refund should be issued about six to eight weeks after the IRS receives your return. If you file your return electronically, your refund is issued in about half that time — even faster if you...

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 and save money by the April 15 filing deadline. Taxpayers should file their return on time, pay as much as they...

If you have a balance due when filing your income tax return, remember to make sure your tax payment check or money order is payable to the "United States Treasury." Complete and include IRS Form 1040-V, Payment Voucher, when sending your payment and tax return...

A Coverdell Education Savings Account (ESA) is an account created as an incentive to help parents and students save for education expenses. The total contributions for the beneficiary of this account cannot be more than $2,000 in any year, no matter how many accounts have been...