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Posts from October, 2014

  • IRS Repeats Warning About Phone Scams The Internal Revenue Service and the Treasury Inspector General for Tax Administration continue to hear from taxpayers who have received unsolicited calls from individuals demanding payment while fraudulently claiming to be from the IRS. Based on the 90,000 complaints that ... Continue Reading
  • Back-To-School: Check out College Tax Credits for 2014 and Years Ahead With another school year now in full swing, now is a good time to see if taxpayers may qualify for either of two college tax credits or any of several other education-related tax benefits when they file their 2014 federal income tax returns. In general, the American ... Continue Reading
  • The “What Ifs” for Struggling Taxpayers People facing financial difficulties may find that there’s a tax impact to events such as job loss, debt forgiveness or tapping a retirement fund. For example, if your income decreased, you may be newly eligible for certain tax credits, such as the Earned Income Tax Credit. ... Continue Reading
  • IRS Announces Direct Deposit Limits In an effort to combat fraud and identity theft, new IRS procedures effective January 2015 will limit the number of refunds electronically deposited into a single financial account or pre-paid debit card to three. The fourth and subsequent refunds automatically will convert ... Continue Reading
  • Upcoming Tax Deadlines October Wed 1 Deposit payroll tax for payments on Sep 24-26 if the semiweekly deposit rule applies. Fri 3 Deposit payroll tax for payments on Sep 27-30 if the semiweekly deposit rule applies. Wed 8 Deposit payroll tax for payments on Oct 1-3 if the semiweekly deposit rule ... Continue Reading