News - John R. Dundon II, Enrolled Agent
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News

November 5, 2008

The Amero is not (as of yet anyhow) a valid currency to pay your US tax obligations with. IT is at this point a "currency" that is believed by many to one day replace the greenback - US Dollar - when the value of the...

November 5, 2008

Beginning with wages paid in 2009, final regulations require "disregarded entities" to pay their own employment taxes and file their own tax reports. A new employer identification number (EIN) will be needed if the disregarded entity does not have one. Under the disregarded entity rules, certain...

November 5, 2008

IRS to Begin Background Checks When POA is FiledThe Office of Professional Responsibility (OPR) has announced that tax practitioners who file Form 2848, Power of Attorney, will automatically undergo a background check. The background check is to ensure that they have timely filed and paid...

November 5, 2008

The IRS has created a special unit if you or your clients believe you are the victim of identity theft. The hotline provides assistance for individuals who believe they may be a victim of identity theft with no known tax administration impact and those who...

November 5, 2008

The IRS is testing a pilot program in which it will mail a new notice to about 31,000 taxpayers who may be under reporting income on tax returns. The IRS designed the so-called soft notice to encourage taxpayers to self-correct tax returns and to increase...

August 19, 2008

How far you moved and the amount of time you spend on the job will have a major impact on whether you qualify for the tax break. Moves that are only short hops and jobs that are short-term or part-time generally do not qualify. However,...

July 24, 2008

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 with benefit payments and secured...

July 9, 2008

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 taxpayers who must report information...

July 9, 2008

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 get the Advance EIC if...

July 9, 2008

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 cash winnings and also the fair...

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