Monday, April 1, 2013
The Dirty Dozen list highlights scams taxpayers can encounter at any point during the year, but which often peak during tax time.
The following is from the IRS: The Internal Revenue Service has issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns. "This tax season, the IRS has stepped up its efforts to protect taxpayers from a wide range of schemes, including moving aggressively to combat identity theft and refund fraud," said IRS Acting Commissioner Steven T. Miller. "The Dirty Dozen …
Tuesday, January 15, 2013
The IRS has announced a delayed start to the 2012 tax filing season.
You'll have to wait a bit if you are used to filing your annual tax return at the earliest possible date. The Internal Revenue Service has revised its opening date for tax season — pushing it eight days, to Jan. 30, 2013. The tax filing deadline is Monday, April 15 The IRS will begin accepting tax returns on Jan. 30, and most taxpayers should be able to file on that date though some revised forms may not be immediately available. You can blame the delay on the federal "fiscal cliff" crisis and the new tax bill Congress passed just after Dec. 31. You can find more information in this Forbes article. Electronic filing season was originally set to start on Jan. 22 this year. As a result of the delay, nobody will get a refund in January, an …
Thursday, December 27, 2012
Taxpayers have until midnight Dec. 31 to donate to their favorite non-profits. However, make sure you know who actually gets your money.
Non-profit organizations hold a very unique status in society. Unlike corporations, non-profits can avoid payment of federal income tax–and in most cases state tax — if they organize and operate to promote certain causes, which include "charitable, religious, educational," among others. Now, with only days left in the 2012 tax year, many non-profits will make last minute requests for donations because donors also receive a tax benefit — they can deduct the value of the money or property made to the organization. However, donors unfamiliar with the work of an organization should first conduct a little research to ensure that their money goes to the right place and for the IRS approved use. All non-profits must keep strict records of how …
Friday, April 15, 2011
Obscure DC holiday, Patriot's Day gives Needham taxpayers a few extra days to prepare taxes
Needham tax procrastinators, rejoice. While you were preparing for a hurried next day-and-a-half locating W-2 forms and going through shoeboxes filled with last year's receipts and then a rush to the post office tomorrow night to make the April 15 federal and state income tax deadline, relax. You actually will have until Monday, April 18 to post or send in via the internet your federal taxes and April 19 for your state form. No, this is not a late April Fool's prank. In fact, you can thank an obscure holiday celebrated in Washington D.C. for these extra days of grace from filing our taxes. According to both IRS and Massachusetts Department of Revenue websites, this year Emancipation Day, a holiday recognized in the District, will fall on …
