Category Archives: IRS

Locking in Gains

Posted on December 20, 2012 by Russ

While the “fiscal cliff” negotiations continue at Washington’s normal pace (i.e. the speed of molasses rolling uphill), there are some certainties. Tax rates are going up next year. In most years, tax professionals advise clients at year-end to speed up … Continue reading →

Posted in IRS | Tagged | Comments Off on Locking in Gains

CAF System Maintenance from Christmas to New Years

Posted on December 17, 2012 by Russ

For tax professionals, be advised that the IRS Centralized Authorization File (CAF) System will be down from Christmas through New Years for routine maintenance. This means that tax professionals will be unable to pull transcripts or other information from 6:00am … Continue reading →

Posted in IRS | Comments Off on CAF System Maintenance from Christmas to New Years

Why Rob Banks?

Posted on December 7, 2012 by Russ

Question: “Why do you rob banks, Mr. Sutton?” Answer: “Because that’s where the money is.” It’s debatable whether or not legendary bank robber Willie Sutton ever said that. However, the idea of only robbing something that has money is a … Continue reading →

Posted in IRS, Tax Fraud | Tagged | 2 Comments

Can We Kill the Death Master File?

Posted on November 26, 2012 by Russ

Years ago, having the Social Security Administration publish a “Death Master File” was probably necessary. This may have been the only manner for various government agencies and insurance companies to learn that individuals had passed on. Today, though, the information … Continue reading →

Posted in IRS, Utah | Tagged , | 1 Comment

IRS Announces 2013 Standard Mileage Rates

Posted on November 21, 2012 by Russ

This morning the IRS announced the 2013 standard mileage rates. The rates are up one cent per mile from 2012 (except for charitable mileage, which is set by a statute). The new mileage rates are: $0.565 per mile for business … Continue reading →

Posted in IRS | Comments Off on IRS Announces 2013 Standard Mileage Rates

New York Extends Tax Deadlines Because of Sandy; Expect the IRS, New Jersey, Pennsylvania and Others to Follow

Posted on October 29, 2012 by Russ

The New York State Department of Taxation and Finance announced that they have extended all tax deadlines falling from October 26 to November 14 to November 14th because of Hurricane Sandy. I expect similar actions to be taken by the … Continue reading →

Posted in IRS, New Jersey, New York, Pennsylvania | Tagged | 1 Comment

Woman Paid for Stealing Identities

Posted on October 28, 2012 by Russ

Angeline Austin of Troy, Alabama worked for Southern Records Management. She was assigned by her employer to Troy Hospital. Ms. Austin felt the need for additional income. Unlike most of us who would actually obtain a second job, Ms. Austin … Continue reading →

Posted in IRS | Tagged | Comments Off on Woman Paid for Stealing Identities

Why the 2013 Tax Season May Give Me Lots More Gray Hair

Posted on October 18, 2012 by Russ

The closing days of a tax season are always hectic; such was the case for us this year. Yet I may look back fondly at this past tax season next year. The reason has to do with the election. If … Continue reading →

Posted in IRS | Tagged | 2 Comments

The End of Procrastination Season Is Upon Us

Posted on October 13, 2012 by Russ

Monday is October 15th. Individual tax returns on extension are due. What do you do if you haven’t done anything except procrastinate? It’s time to file your return. The IRS website has all the forms. Dig up all of your … Continue reading →

Posted in IRS | Tagged , | 1 Comment

IRS CAF Unit Fax Numbers Have Changed

Posted on October 6, 2012 by Russ

The IRS is implementing an inbound efax system. Because of this, the CAF Unit (Centralized Authorization Files) fax numbers have changed. For non-tax professionals, the CAF Unit handles IRS Power of Attorney and Tax Information Authorization forms. For tax professionals, … Continue reading →

Posted in IRS | 3 Comments