Category Archives: IRS

It’s Only Wrong by Three Days

Friday’s Las Vegas Review-Journal included a free calendar (with a retail price of $2). Remember the cliche, “You get what you pay for”? Well, that was definitely the case with this free calendar. Highlighted on Friday, April 15 is “Tax … Continue reading

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IRS: We’ll Trust You on Health Insurance for 2015 Because…

Earlier today I saw a tweet from Joe Kristan: New Notice 2016-4 extends deadline to provide employee 1095-B and -C copies from 2/1/16 to 3/31/16; 2/29 IRS copy deadline moved to 5/31/16 — Joe Kristan (@joebwan) December 28, 2015 The … Continue reading

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Tax Season to Open on January 19th

The IRS announced today that the 2016 Tax Season (for filing 2015 tax returns) will begin on Tuesday, January 19th. The tax deadline will be Monday, April 18th (for federal individual returns) except for taxpayers in Maine and Massachusetts–they get … Continue reading

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Once Again, the IRS Doesn’t Start by Calling You

My mother received a phone call on Saturday morning at 6 am from “Agent Smith” of the IRS demanding immediate payment of her taxes or she would find herself “thrown in jail.” Yes, the scamsters are still out there. Now … Continue reading

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The Great, the Good, and the Bad of the Extender Legislation

Normally I would write about the good, the bad, and the ugly of the extender legislation. It’s different this year, because the legislation passed by Congress and signed into law doesn’t have much that’s ugly. Instead, there’s some great news, … Continue reading

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2016 Standard Mileage Rates Released

The IRS today announced the standard mileage rates for 2016: $0.54/mile for business miles driven (down from $0.575/mile in 2015); $0.19/mile for medical or moving purposes (down from $0.23/mile in 2015); and $0.14/mile in service of a charitable organization (unchanged; … Continue reading

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Third Party Transcript Requests Reportedly Will No Longer be Processed by the IRS

Form 4506-T allows a third-party to obtain a transcript with your signed permission. One use of the form has been to obtain a tax return transcript when obtaining a mortgage. There have been reports that some individuals who completed this … Continue reading

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De Minimis Rule Change Is Better than I First Thought

My flight home last night was delayed, so I got the chance to read the IRS’s new de minimis rule for small businesses allowing expensing of items costing $2,500 or less. Normally when you read something that’s from the IRS, … Continue reading

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IRS Increases De Minimis Expense Threshold to $2,500 from $500 for 2016 Onward

The IRS today announced that the de minimis expense threshhold for small taxpayers (which is the vast majority of all taxpayers) to $2,500 from $500 for tax years 2016 onward. Note that this does not apply for 2015 returns filed … Continue reading

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Yo No Hablo Ni Leo Español

Yes, Spanish is not one of my languages. Luckily for me, computer translators exist. Unluckily for one of my clients, he received an IRS notice in Spanish…when he doesn’t read or speak Spanish. This is more humorous than anything else … Continue reading

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