The IRS has been shouting hoarse about the lack of funding for years. Due to cuts in funding, the agency had to shrink many of its services. But there’s another big loss happening: a research study from Indiana University Kelley School of Business has revealed that budget cuts at the IRS have lead to the loss of billions…
IRS Releases List of the “Dirty Dozen” Tax Scams to Avoid The IRS has released a list named the “Dirty Dozen”, comprising of some of the top tax scams that affect taxpayers. PBS reports on this story and also provides some scam red flags to watch out for. If you have any doubt of the…
Spotting the Fakes Among the Five Star Reviews PBS: How many five-star reviews are fake? More than you might think. PBS News sits down with a paid fake reviewer to discuss the ins and outs of this troublesome trend, and what some businesses are working to do to prevent such practices. Fill out the form…
Beware of IRS Phone Scams NJTV News discusses phone scammers. One reporter receives an IRS phone scam call and shows how these scammers work to deceive American taxpayers to give them money to pay off a fake tax debt. NJTV also speaks with an IRS spokesman about their experience. Fill out the form for a…
This page has been updated for 2022 tax return guidelines. Did you fail to file your tax return this year? You’re not alone. Over 175 million individuals did not file a tax return this year alone. While many of these individuals fall under an exemption, many more simply failed to file for other reasons. Requirements to a…
Those who owe a tax debt to the IRS will typically also have a state tax debt. There are many ways to gain a tax debt with a state; however, the most common way it occurs is when an individual works and lives in separate states. Filing your tax returns with an inexperienced accountant or…
Whom do you contact for tax assistance if you cannot afford a professional tax service? You can read through the information on the IRS website, which might not tell you exactly what to do. Or, you can call the IRS, which most likely doesn’t get you to talk to an agent. Essentially, you are on your…
The IRS has turned its focus on virtual currency owners and investors. The IRS in its July 26, 2019 press release said that it has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions…
Amidst piles of information about the ACA and how it impacts your taxes and financial planning, many taxpayers are confused about what they need to do to take advantage of the benefits available to them. As a small business owner, you can enjoy advantages that can help you maximize your health-care benefits and save more in taxes as…
Pennsylvania has joined other states in reforming its tax credits incentives. The state’s tax incentives will undergo extensive changes in order to increase their effectiveness and usefulness for taxpayers. As part of an ongoing process, the state’s Independent Fiscal Office (IFO) will regularly analyze and evaluate tax incentives so that policymakers can make improvements that are aimed at benefitting the taxpayers….
