Category Archives: IRS News

IRS Clarifies Temporary ITIN Application Requirements for Noncitizens with Tax Extensions and Many Foreign Students

[TaxMama Note: We’ve been waiting for this.] Effective Oct. 2, 2012, the IRS implemented two separate clarifying changes to its temporary procedures for issuing Individual Taxpayer Identification Numbers (ITINs).https://www.fiercereads.com/wp-content/languages/new/resume-writing-service.html First, the IRS will allow individuals studying in the United States under the Student Exchange Visitors Program (SEVP) to get ITINs under a streamlined procedure. SEVP […]

IRS Can Reduce Real-Estate Costs by Increasing Use of Telework

[TaxMama note: The IRS started on this path several years ago. Many of my contacts have been working from home.https://www.myjewishlistings.com/wp-content/languages/new/photo-editing-services.html CPA firms started doing this more than a decade ago. It saved them entire floors in office buildings – cutting costs significantly. Besides, this can cut traffic jams. Excellent idea.] WASHINGTON – The Internal Revenue […]

IRS Takes Confidentiality Seriously

We’ve been talking about IRS whistleblowers lately. One of the features of the program is that it is meant to provide anonymity to the whistleblower. Otherwise, that person could potentially face serious physical and financial harm. Well, it doesn’t always work that way. Sometimes, you run into a corrupt government official seeing a way to […]

Half of Volunteer Prepared Returns Were Incorrect

Courtesy of NAEA – www.naea.org                                                    A TIGTA  audit, which hit email boxes in DC this week, makes for interesting reading. On the plus side, the new accuracy rate is far higher than the accuracy rate TIGTA measured during the 2011 filing season (39 percent). On the down side, half of returns in the study […]

Final Decision on Your Ultimate 2013 Tax Obligations?

Courtesy of CCH, a Wolters Kluwer Co. (RIVERWOODS ILL., September 14, 2012) – Taxpayers recovering from the current economic downturn will get at least some relief in 2013 by way of the mandatory upward inflation-adjustments called for under the tax code, according to CCH, a Wolters Kluwer business, a leading global provider of tax, accounting […]

Taxpayer Advocate Service Changes Case Acceptance Criteria

  [TaxMama Note: This is important for people in IRS  tax trouble to know.  Also, read today’s It’s A WAHM Thing article about how to do things yourself.] The Taxpayer Advocate Service (TAS) is designed to be a “safety net” for taxpayers who are experiencing problems with the IRS. However, because we couldn’t possibly help all […]

IRS Provides Tax Relief to Victims of Hurricane Isaac

IRS Provides Tax Relief to Victims of Hurricane Isaac; Return filing and Tax Payment Deadline Extended to Jan. 11, 2013 (courtesy of the IRS)  WASHINGTON –– The Internal Revenue Service is providing tax relief to individuals and businesses affected by Hurricane Isaac. Following recent disaster declarations for individual assistance issued by the Federal Emergency Management […]

Eight Tips for Taxpayers Who Receive an IRS Notice

Courtesy of the Internal Revenue Service [TaxMama Note: For information on how to understand the letter from IRS, click here.] Receiving a notice from the Internal Revenue Service is no cause for alarm. Every year the IRS sends millions of letters and notices to taxpayers. In the event one shows up in your mailbox, here […]

Medicare Premiums and SE HI Deduction

In a Chief Counsel Memorandum (CCM) dated May 1, 2012, released July 13, 2012, IRS addressed the issue of Medicare premiums and the self-employment health insurance deduction.     For years IRS has stated in its publications that Medicare premiums do not qualify for the self-employed health insurance deduction. In early 2011 IRS stated in its […]

Tax Tips for Recently Married Taxpayers

Courtesy of the Internal Revenue Service [TaxMama note – also read about Wedding-Related Tax Benefits, here.] If you’ve recently updated your status from single to married, you’re not alone – late spring and summertime is a popular period for weddings. Marriage also brings about some changes with your taxes. Here are several tips for newlyweds […]

IRS Offers Tips for Safeguarding Tax Records

Courtesy of the Internal Revenue Service [TaxMama Note: For more recordkeeping and safeguarding tips, click here.] Hurricane season has started and the IRS encourages individuals and businesses to safeguard their tax records against natural disasters by taking a few simple steps. Here are four tips from the IRS to help you prepare in case a […]