Category Archives: IRS

FTB’s New MyFTB Impresses; Will the IRS Take Heed?

Posted on January 25, 2016 by Russ

Submitting a Power of Attorney form to the IRS means I must fax the form to the IRS’s Centralized Authorization File (CAF) unit and hope that the POA is entered in timely. A few years ago authorized e-services providers (which … Continue reading →

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1099 Time for 2016

Posted on January 10, 2016 by Russ

It’s time for businesses to send out their annual information returns. These are the Form 1099s that are sent to to vendors when required. Let’s look first at who does not have to receive 1099s: Corporations (except attorneys) Entities you … Continue reading →

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IRS Errs on Identity Theft PIN Letters

Posted on January 5, 2016 by Russ

One would think that the IRS proofed important letters and notices before they’re finalized. That didn’t happen with IRS Notice CP 01A, the notice used when sending out an Identity Theft PIN (personal identification number). The IRS announcement is reproduced … Continue reading →

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It’s Only Wrong by Three Days

Posted on January 3, 2016 by Russ

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…

Posted on December 28, 2015 by Russ

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

Posted on December 21, 2015 by Russ

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

Posted on December 20, 2015 by Russ

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

Posted on December 20, 2015 by Russ

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

Posted on December 17, 2015 by Russ

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

Posted on December 2, 2015 by Russ

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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