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Author Archives: Russ
Disaster Relief Extension Impacts Millions in Illinois; Expect IRS to Give Relief to North Carolina Shortly
The IRS announced this morning that tax deadlines have been postponed in several counties in Illinois due to recent severe weather in the Chicagoland area: The IRS is offering relief to any area designated by the Federal Emergency Management Agency … Continue reading
Posted in Illinois, IRS, North Carolina
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Don’t Touch the Duct Tape!
Yesterday, I had to call the IRS to obtain an address to mail a return to (it had to go to a special address), and discuss collection activities for another client. Unfortunately, the IRS computer system crashed. (It came back … Continue reading
Posted in IRS
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Creative Math, IRS Style
One of our clients made a mistake on his payroll tax deposits: He shorted the IRS $4,590. He realized his mistake, and immediately made a correcting payroll tax deposit (albeit late). There’s a penalty for this, and it’s 10% (based … Continue reading
Posted in IRS, Payroll Taxes
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The Case of the Missing $632,825.18
The story you’re about to read is true. The names (and dollar amounts) have been changed to protect the innocent. John and Mary Smith, long-time clients, filed an amended return for the 2017 tax year years ago. It took some … Continue reading
Posted in IRS
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Hurricane Debby Tax Deadline Relief; Deadlines Extended for Impacted Taxpayers to February 3, 2025
This year is supposed to be a very active year in the tropics, with over 20 tropical storms (some of which will be hurricanes) predicted. Hurricane Debby made landfall in Florida, and then made a second landfall in the Carolinas … Continue reading
Posted in Florida, Georgia, North Carolina, Pennsylvania, South Carolina
Tagged Hurricane.Debby
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Why Did the IRS Send Me a $1.87 Refund?
In mid-June I received mail from the IRS. That’s not unusual; I receive a lot of mail from the IRS (generally, correspondence for clients). But this was different: it was a check for $1.87. Here’s the check: Now, I wasn’t … Continue reading
Posted in IRS
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A Phish A Day…
Phishing is something tax professionals see daily. We have antivirus and malware protection installed throughout our network and on all workstations, but I still see a phishing email a day. Here’s one: There are a number of clues that this … Continue reading
Posted in Tax Preparation, Taxable Talk
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The Real Winners of the 2024 World Series of Poker
I was not one of the 10,112 entrants (a record field) in the 2024 Main Event of the World Series of Poker. Yesterday saw the winner being crowned. He received a cool $10 Million, but how much of the winnings … Continue reading
US-Russia Tax Treaty Mostly Suspended Beginning August 16th
The IRS announced today that based on a request from Russia last August that most of the US-Russia Tax Treaty will be suspended beginning August 16, 2024. One impact: Russians who have gambling income in the US that’s subject to … Continue reading
Posted in Gambling, International
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Is IRS Correspondence Broken?
As a tax professional with quite a few clients, our clients receive IRS notices. Much of this correspondence (not all, but a large portion) has to be responded to. My three most recent cases are making me think there are … Continue reading
Posted in IRS
Tagged National.Taxpayer.Advocate, Taxpayer.Advocate.Service
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